In recognition of its historic engineering significance, the structure was placed on the New York State and National Registers of Historic Places in 2004, but since that time it has been completely disused. Past proposals for re-use have included a 2004 competitive process pitting an extension of the nearby Chelsea Piers sports complex against "Leonardo at Pier 57", an Italian cultural center that was to be operated by Cipriani S.A.. However, an investigation by the DA's office sparked by an anonymous tip regarding financial irregularities caused the Cipriani team to back out and scuttled the process.