Contractors hope Sag Harbor condo project restarts

One of Long Island's most expensive condo projects - 19 units set to go up in Sag Harbor - was 85 percent completed when work stopped last fall, leaving dozens of contractors unpaid and out of money for material they bought.

Sam P. Israel, the Manhattan attorney representing the developers, East End Development, said Amalgamated Bank, which advertises itself as "America's Labor Bank," stopped funding the project sometime last summer, and that work stopped in October. Israel said he has had talks with bank officials about restarting the project, but the talks have led nowhere.

Bob Rinklin, an Amalgamated spokesman, said the bank had no comment.

Israel said he believes the bank halted funding when banks nationwide stopped lending during the financial crisis last fall. "They've imperiled the project, and they're cutting off their nose to spite their face," Israel said.

Meanwhile, Kelly Daniele, a West Babylon attorney representing one of the contractors, said her client is out about $500,000. Daniele said between 20 to 30 liens have been filed against the project.

The condos were supposed to go for several million dollars each, with a swimming pool atop the building.

Roy L. Wines IV, president of RLW4 Construction of Southampton, the general contractor, said the project was 85 percent complete. He said he walked off the job in October after he had not been paid since June. Wines said he is still hopeful the project will be restarted.

"You want to see the trades get paid and get back to work," Wines said.