this area , logan lispenard , consists of old turn of the 20th century single family homes ; its now highly desirable as it overlooks the remnants of a much larger fishing fleet , and the yacht-choked harbor of the second neighborhood , crabtown , below , which has been slower to gentrify , perhaps owing to the smell of dead sea-life , or the fact that so many old buildings are sitting out over the water on rotting pilings .