China Oceanwide Holdings has closed on the acquisition of 80 South Street in New York’s historic Seaport District for $390 million. Purchased from the Howard Hughes Corporation, the 42,694 sqf lot is approved for 817,784 sqf of fully entitled development rights. The Seaport District in New York City is located on the East River in Lower Manhattan. The revitalized area will include seven buildings over several city blocks and feature a mixed use scheme of dining, shopping, entertainment and cultural offerings.
“We are pleased to be welcoming our friends at China Oceanwide to the neighborhood and excited about the impact their building will have on the Seaport District,” said Howard Hughes Corp. CEO David R. Weinreb. “This transaction is another sign that the Seaport District, with its unmatched views and distinct sense of place, is gaining recognition as one of the city’s hot spots.”
