Howard Hughes marketing stake in 80 South Street

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

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
The Howard Hughes Corporation CEO David O'Reilly (LinkedIn via David O'Reilly)
Howard Hughes’ (slightly less) big Seaport project approved
Howard Hughes’ (slightly less) big Seaport project approved
A rendering of 250 Water Street, Landmarks Preservation Commission chair Sarah Carroll and Howard Hughes Corporation CEO David O’Reilly (Center for Architecture, The Howard Hughes Corporation/SOM)
Howard Hughes told to further refine Seaport tower proposal
Howard Hughes told to further refine Seaport tower proposal
Howard Hughes Corporation CEO David O’Reilly and 250 Water Street (The Howard Hughes Corporation/SOM)
Critics look down on shorter 250 Water Street
Critics look down on shorter 250 Water Street
Previous rendering of 250 Water Street (left) and a new rendering (right) with Howard Hughes Corporation CEO David O’Reilly (The Howard Hughes Corporation/SOM)
Howard Hughes hopes smaller Seaport project will work this time
Howard Hughes hopes smaller Seaport project will work this time
A rendering of 250 Water Street and Howard Hughes Corporation CEO David O'Reilly (SOM; Getty; iStock)
Howard Hughes’ Seaport project dealt major blow
Howard Hughes’ Seaport project dealt major blow
Howard Hughes’ Saul Scherl and a rendering of 250 Water Street (Getty, The Howard Hughes Corporation/SOM)
Howard Hughes to launch review process for $1.4B Seaport tower
Howard Hughes to launch review process for $1.4B Seaport tower
Howard Hughes Corporation CEO Paul Layne with former CEO David Weinreb (Credit: Getty Images)
As Howard Hughes tries to right ship, Seaport remains an albatross
As Howard Hughes tries to right ship, Seaport remains an albatross
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
Amid talks of company sale, Howard Hughes lands $250M loan for Seaport project
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...