The cost of the Crystal Point hasn't been released, but the Purchase, NY-based Fisher Development did get the project done with the help of $135 million in construction financing arranged in late 2006 by Fremont Investment & Loan. Fisher was designated as developer of the site in early 2006, a redevelopment agreement was executed in September of that year and Crystal Point, originally named Hudson Exchange, got site plan approval in October 2006.

Crystal Point is located at 2 Second St., opposite lower Midtown Manhattan just across the Hudson River, on one of the last developable sites on this city's waterfront. The building, with its crystalline-style glass exterior, was designed by the architectural firm Gruzen Samton.

"I think it brings a new level of style and elegance to the market," says Brian Fisher, a principal of Fisher Development. "We've tried to combine aspects of a luxury resort with 'all the comforts of home.' The waterfront location is nestled between the charming Paulus Hook neighborhood and the Hudson River."

Fisher Development isn't a stranger to this market in terms of residential development. Crystal Point follows such other projects done in the market as the $100-million Liberty Towers on Hudson St., and the earlier Liberty Terrace, also on Hudson. Crystal Point itself, meanwhile, is located near light rail and ferry stops.