UPDATED, 2:08 p.m., March 26: The Howard Hughes Corporation has entered contract for land just south of its planned 50-story tower at South Street Seaport’s Pier 17. The 8,128-square-foot parcel at 80 South Street has already received the go-ahead from the City Planning Commission to be transformed into a 300,000-square-foot mixed-use tower.
Queens-based Cord Meyer Development has opted to sell the proposal and site itself to Howard Hughes. Morali Architects was behind the design of the tower, which would hold a residential component, a hotel and a community space. Before the recession, Frank Sciame designed plans for a different tower, with 10 townhome cubes priced at roughly $30 million. After the project was canceled due to lack of interest from buyers, Sciame transferred a $14.5 million loan to Cord Meyer.
“The Howard Hughes Corporation is committed to Transforming The South Street Seaport, and today we are reaffirming our belief in the future of the area by expanding our investment,” said Chris Curry, senior executive vice president of development at Howard Hughes, said in a statement. “Our immediate priority is the rebuilding of Pier 17, bringing great new retail back to the historic district and advancing our proposed mixed-use project with its vital pier infrastructure investments.”