Howard Hughes marketing stake in 80 South Street

Texas-based developer helming Seaport redevelopment paid $100M for 8K sf site last year

TRD New York /
Apr.April 20, 2015 11:30 AM

The Howard Hughes Corp. is marketing its interest in 80 South Street, near the South Street Seaport, for a sale or joint venture.

Hughes paid Queens-based Cord Meyer Development $100 million last year for the 8,128-square-foot site, which sits on the corner of Fletcher Street near the East River. The parcel had previously received permission from the City Planning Commission for redevelopment into a 300,000-square-foot mixed-use tower.

The Dallas, Texas-based company hopes a potential sale will accelerate development in the Seaport and enable it to refocus resources across the rest of its assets in the area, according to the New York Observer.

Hughes hired CBRE Group to market the 80 South Street site, the Observer reported.

Hughes paid around $31 million this year to buy more than 300,000 square feet of air rights at South Street Seaport, The Real Deal reported. The company also acquired a 10-story commercial building in the area for $24 million in March. [NYO] – Rey Mashayekhi


Related Articles

arrow_forward_ios
Howard Hughes CEO David R. Weinreb and South Street Seaport (Credit: NYCgo)

Amid talks of company sale, Howard Hughes lands $250M loan for Seaport project

Developer Howard Hughes mulls sale amid continued financial uncertainty

The site (left) and a rendering of 80 South Street (Credit: Google Maps; rendering via YIMBY by ATCHAIN)

China Oceanwide takes out $175M loan against supertall Seaport site

250 Water Street and Howard Hughes Corporation CEO David Weinreb (Credit: Google Maps)

Howard Hughes faces more backlash at Seaport. This time, it’s over toxic contamination concerns

Hawaii’s answer to Hudson Yards: This 60-acre megaproject in Honolulu

Winter is coming: Rockwell Group to build pop-up “village” at Pier 17

Milstein lends $130M on Seaport site it long owned

Howard Hughes buys Milstein’s Seaport site for $180M

arrow_forward_ios