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Posts Tagged ‘South Street Seaport’

  • From left: Faith Hope Consolo and a rendering of Pier 17

    The future of the proposed South Street Seaport revitalization project is uncertain, the Wall Street Journal reported. The culprit: Hurricane Sandy, whose landfall in Lower Manhattan not only damaged the South Street Seaport Museum, but also could have damaged Pier 17, where Howard Hughes Corp. is planning a redesigned mall.

    Now that the site is closed, and could be closed for two years with construction, retailers could get cold feet in signing leases and the site may have problems getting visitors, real estate experts told the Journal. “People have a short time span to remember,” Faith Hope Consolo, chairman of Douglas Elliman’s retail group, told the Journal. [more]

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  • A proposed tower for South Street Seaport that was rejected by LPC

    Though the city’s Economic Development Corp. approved Howard Hughes Corp.’ overhaul of the South Street Seaport retail complex, the local community was quick to tell Downtown Express that it’s far from a done deal. The project still has to undergo the Uniform Land Use Review Procedure, which usually endures for seven months, and there are still significant concerns, according to Michael Levine who directs Land Use and Planning for local Community Board 1. [more]

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  • From left: Howard Hughes CEO David Weinreb, EDC President Seth Pinsky and a rendering of the project

    Howard Hughes Corp. announced today that it has reached an agreement with the city’s Economic Development Corporation to overhaul Pier 17 in Lower Manhattan, Crain’s reported. Construction is projected to begin next year, and be completed by 2015. [more]

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  • Fulton Street Transit Center rendering

    The Metropolitan Transportation Authority is issuing a request for proposals Thursday to find a manager for 70,000 square feet of high-end retail space under construction at the Fulton Street Transit Center. While the Wall Street Journal noted that this is just some of the nearly 1 million square feet of new retail space being prepared for the area, retail brokers believe there is enough demand to fill the flood of new supply. [more]

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  • A rendering of 80 South Street

    The South Street Seaport area could finally be getting a new skyscraper. Curbed reported that there are now plans to construct a 300,000-square-foot, 780-foot mixed-use tower at 80 South Street, with a mix of hotel, residential and community space.

    Cord Meyer Development owns the plot, and according to Curbed, is examining the property’s air rights to see if half of the proposal’s square footage can be dedicated for residential use. [more]

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  • A rendering of the plans for the South Street Seaport

    Regarding Pier 17, that misbegotten pile that opened in August 1983 on the East River and dominates the South Street Seaport, the most recent “AIA Guide to New York City” (dated 2010) says it best: “What was intended as a time capsule of the early 1800s has become an inadvertent time capsule of the early 1980s. … The best thing about it is the East River lapping cheerfully about the foundations and the cry of gulls overhead. The worst thing about it is everything inside.” [more]

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  • A rendering of the plans for the South Street Seaport

    The South Street Seaport in its current form is not long for this world, it seems, the New York Times reported. In a hearing yesterday with the Landmarks Preservation Commission, owner the Howard Hughes Corporation outlined its ambitious plans to “turn Pier 17 into a glass-clad shed dominated by two 60,000-square-foot sales floors on the upper level,” the Times said, which would mean that no large-scale retailers could be accommodated. And so far, the LPC seems receptive. [more]

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  • Howard Hughes CEO David Weinreb (top), Crown Acquisition Chairman Stanley Chera and a rendering of South Street Seaport's Pier 17

    Howard Hughes Corp. finally made renderings public for its planned renovation of South Street Seaport’s Pier 17, and according to the New York Post, it brought in Stanley Chera’s Crown Acquisitions to attract new tenants and help manage the mall.

    As previously reported, the new glass-shrouded, three-story mall will take the same footprint as the existing structure, and feature a rooftop park, walkways bisecting the mall and 250,000 square feet of selling space (see the rendering at right). [more]

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  • Howard Hughes meets with LPC on Pier 17

    January 11, 2012 01:30PM

    Howard Hughes Corp., which leases the South Street Seaport, has begun sharing its plan for redeveloping Pier 17 with the Landmarks Preservation Committee, according to Crain’s. Monday was the most recent meeting between the developer and the city commission.

    The developer hopes to file its plan with the committee sometime early this year. Community Board 1 has indicated they would prefer plans for both Pier 17 and the seaport as a whole, that are not too tall and don’t attract so many tourists. [more]

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    Howard Hughes CEO David Weinreb and Pier 17

    South Street Seaport leaseholder Howard Hughes Corp. unveiled plans to the local community board to replace the mall that currently sits on Pier 17 with a three-story glass retail building. According to the Tribeca Tribune, the community walked away impressed with the plan — but aware that a taller tower will likely follow.

    “You can’t just be doing one building without knowing what your master plan is for the rest of the pier,” said John Fratta, chair of Community Board 1′s Seaport Committee. “I’m willing to bet there is going to be a high-rise in the future.”… [more]

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  • Demand to purchase in the residential enclave of South Street Seaport is growing so rapidly that some properties are sold before they are publicly listed, Phyllis Pei, an agent at Prudential Douglas Elliman, told the New York Times, a sign that the area is rebounding, independently of the Financial District.
    So far in 2011, 273 sales have closed in the Seaport/Fulton Street area stretching west to Broadway, with an average sales price of more than $915,000, Streeteasy.com data shows. The average rent for the area is $3,775.
    South Street Seaport, the 13-block historic district bounded by the East River and and Dover Street and the Brooklyn Bridge to the north, is a neighborhood with two very different faces, the New York Times said — a residential area is growing in the North, and to the South, a tourist destination served by Pier 17.
    [more]

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  • A construction project to transform the South Street Seaport that is set to start this weekend after many delays could force around 30 restaurants and small businesses in the area to close, am New York reported. The project is intended to transform Peck Slip Plaza into a park. Part of the construction will involve shutting off water to several of the restaurants at different hours and the business owners point out that it would be illegal for them to operate without running water. The owners also say that noise from jackhammers and scaffolding will keep customers away from the scenic outdoor seating that is the area’s draw. They suggest postponing the project until winter. The city’s Department of Design and Construction pointed out that the construction will take four years regardless of whether it starts this summer…. [more]

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  • South Street Seaport to see a revival

    January 07, 2011 10:01AM

    Plans to redevelop the South Street Seaport are once again up for discussion, according to the Downtown Express. Its owner, the Howard Hughes Corporation, a spin-off of General Growth Properties, has acknowledged that it is reviving the plans, which include a hotel, a condominium tower and retail shops. In 2007, General Growth developed a plan to enhance public access to the waterfront at South Street Seaport, intending to create pedestrian-only streets that extend beyond the city grid. … [more]

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  • General Growth hires Vornado exec as CEO

    October 29, 2010 01:00PM

    General Growth Properties, the shopping mall company behind South Street Seaport that is planning to exit bankruptcy in November, has hired Vornado Realty Trust’s Sandeep Mathrani as CEO, the company announced. Mathrani, 48, has been executive vice president in Vornado’s retail division for more than eight years. Before joining Vornado in 2002, Mathrani was an executive vice president of Forest City Ratner. He will take on the CEO role at General Growth at the beginning of the year, succeeding Adam Metz, who held the position since October 2008. General Growth, the second largest U.S. shopping mall owner, won court approval this month for the last stage of its restructuring, a year and a half after filing the biggest real estate bankruptcy in U.S. history when it was unable to refinance its debt. [Daily Herald]

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  • The struggling publishing industry is the latest to fall victim to the city’s tireless bedbug population,
    which has been taking hold of the news cycle in recent weeks with
    outbreaks in clothing stores, hospitals and offices (not to mention apartment buildings).
    Hachette Book Group, whose offices are at 237 Park Avenue, has been
    treating its three floors for bedbugs this week. The offices were open
    until this afternoon, when they closed for the final round of
    treatment. A company spokesperson told the Wall Street Journal that
    doors would reopen Monday. Other recent bedbug-related closures include
    a triage room at Kings County Hospital in Brooklyn, the offices of Euro RSCG Worldwide downtown, an east side Victoria’s Secret, an Abercrombie & Fitch at the South Street Seaport and the Hollister Epic store in Soho. [WSJ]

    [more]

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  • South Street Seaport

    General Growth Properties, the bankrupt owner of U.S. shopping malls, including the South Street Seaport, has filed its proposed reorganization plan with the U.S. Bankruptcy Court for t… [more]

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  • General Growth Properties, owner of the South Street Seaport in Lower Manhattan, will file its Chapter 11 reorganization plan on or around July 9, Crain’s reported. General Growth asked for one extension until Oct. 18 to file the plan and another extension until Dec. 16 to solicit acceptances of any plan. The extra time would allow them to explore all financing options. The company, which also owns about 200 shopping malls nationwide, filed for Chapter 11 last April, the biggest real estate bankruptcy case in U.S. history. [Crain's]

    [more]

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  • General Growth Properties, owner of the South Street Seaport in Lower Manhattan, will file its Chapter 11 reorganization plan on or around July 9, Crain’s reported. General Growth asked for one extension until Oct. 18 to file the plan and another extension until Dec. 16 to solicit acceptances of any plan. The extra time would allow them to explore all financing options. The company, which also owns about 200 shopping malls nationwide, filed for Chapter 11 last April, the biggest real estate bankruptcy case in U.S. history. [Crain's]

    [more]

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  • alternate textElizabeth Berger

    A 28-year resident of Lower Manhattan who has worked in city government for years, Elizabeth Berger now advocates for the area’s economic well-being as head of the country’s biggest business improvement district. While the neighborhood is clearly more vibrant than in the early 1980s, lately it has struggled. Construction at the World Trade Center site is still years behind schedule. Office vacancy rates will hit 14 percent next year because financial companies have shuttered or moved. And as The Real Deal reported in March, 4 of the 11 new Manhattan developments with the most foreclosure filings are located below Canal Street. Plus, sales activity in the Financial District, which makes up most of the Downtown Alliance, is still sluggish compared with other Manhattan neighborhoods. In an interview with The Real Deal, Berger explained how to fill empty cubicles, why Lower Manhattan is a better corporate address than Midtown and the benefits of a live-work district. … [more]

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  • Even in bankruptcy, General Growth Properties is feeling pressure from New York City officials to pony up $500,000 in back rent it allegedly owes for South Street Seaport, according to the Wall Street Journal. The city has filed a court claim demanding payment, but General Growth is disputing the city’s stance for as-of-yet unknown reasons and plans to file its response to bankruptcy court soon…. [more]

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