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    South Street Seaport

    94 South Street
    New York, NY 10038
    Retail, Ground Lease

    The South Street Seaport is an area at the tip of Lower Manhattan that the Howard Hughes Corporations is redeveloping into a series of retail and residential properties. Given the location and centuries-long history of the Seaport, the moves in recent years have not been without controversy. As of early 2015, however, they were moving forward. The Dallas-based Howard Hughes controls the property through a land lease with the city.

    The redevelopment includes the demolition of the Seaports Pier 17; the replacement of its old mall with another mixed-use development, including two floors of retail and open space up top; and a high-rise condo and hotel project just north of that mall. The condo-hotel tower has proven particularly controversial, and, as of May 2014, a task force that includes developer Howard Hughes and local residents was searching for a compromise that could mean a shorter spire.

    Unfolding over roughly 3.5 acres, the Seaport includes a museum as well as other tourist attractions, including a memorial to the Titanic and fantastic views of the Brooklyn Bridge.

    • Address 94 South Street
    • neighborhood Seaport
    • borough Manhattan
    • owner Howard Hughes, New York City
    • developer Howard Hughes, New York City
    • owner entity NYC HPD
    • floors 3
    • Year Built 1983
    • square feet 128,123
    • block and lot 1-00096-0001
    • BIN 1001318

    In 1993, developer Irwin Cohen paid $9 a square foot for a rundown complex on that same spot and four years later he debuted the Chelsea Market, a gourmet food and shopping hall. At the time, retail rents at the Chelsea Market were $25 per square foot. Today, they are well over $100 per square foot, according to news reports. And the Chelsea Market has spawned roughly a dozen food halls. These markets bring together a wide variety of trendy specialty foods into one culinary potpourri. Where else can you dine on an Iraqi pita pocket, a $17 lobster roll and Japanese-inspired tacos all in one place? It’s no wonder many more are on the way, including celebrity chef Jean-Georges Vongerichten’s 40,000-square-foot seafood-themed hall planned for the South Street Seaport...

    Billionaire Lu Zhiqiang's firm bought the two South Street Seaport sites â€' only about 15,000 square feet between them â€' with plans to build an 820,000-square-foot tower, with 440,000 square feet dedicated to residential space and 380,000 square feet of commercial...

    Two other large malls are expected to be completed in the coming years: They are the Howard Hughes Corp.’s South Street Seaport in Lower Manhattan, which is under redevelopment, and the 1 million-square-foot retail complex at the Hudson Yards site, which is being developed by Related...

    Slightly outside of the Financial District in the Fulton Street/South Street Seaport area, NestSeekers International has a significant presence, thanks to a large number of exclusive listings at TF Cornerstone’s 99 John Street and at a condominium property at 138 Fulton Street...