US Lightship 115 was laid down at Charleston Dry Dock and Machine Co. in Charleston, South Carolina, on January 30th 1929 and was launched on August 30th of the same year, and was received by the US Coast Guard on April 8th 1930. She started off marking the extremity of the Frying Pan shoals, North Carolina (17 miles South-East of Cape Fear) in 1930 and remained there until 1942, shortly after the USA became involved in WWII.

During the conflict, the shoals were marked by a lighted buoy, but the lightship returned in 1945, staying there until 1964 when a Texas Tower lighthouse was constructed nearby, bringing to an end a long history of lightships marking the Frying Pan shoals. LV-115 was retired in 1965, and was therefore never automated. After retirement the vessel was abandoned in the Wicomico River in Maryland, where she capsized in 1986 due to a broken pipe. Fortunately the vessel was rescued, and was raised in 1987; however, the process of righting the vessel resulted in the aft mast being damaged. New York City waterfront entrepreneur Captain John Krevey purchased LV-115 and set about restoring the ship in 1988, so that it could be opened to the public. Moored at Pier 66a, it is one of two lightships that can be found around Manhattan, with LV-87 located at South Street Seaport Museum in Lower Manhattan.