Dabon LLC, of which Donald Capoccia is a principal, is the developer and Mr. Capoccia kept three of the 17 apartments as a triplex penthouse for himself. David Gross of GF55 was the executive architect and Romy Goldman of Gold Development was the development manager.

The building has a 7-story base with a dark granite façade and the upper floors are setback and have floor-to-ceiling windows. The building, which is on a cobblestone street, has a large swimming pool in the basement with a high, undulating ceiling. Prices began at about $2 million and the building was scheduled for completion at the end of 2007.

The building has an entrance marquee. It is a few feet to the east of 40 Bond Street, another new residential condominium project whose façade on Bond Street was notable for the curved green glass elements designed by Herzog & de Meuron for the developer, Ian Schrager.

The site at 48 Bond Street had been used as a parking lot and storage yard for Great Jones Lumber Yard and it is not far from the handsome and curved residential condominium building at 57 Bond Street on the southwest corner at The Bowery that was recently completed.

Deborah Berke designed the recently opened Marianne Boesky Gallery in Chelsea next to the High Line and the 21C Museum Hotel in Louisville, Kentucky.

A previous design by Marvin Meltzer for the site for the developer contained 29 apartments.