March 17, 2016
The $390 million commercial real estate transaction between Howard Hughes Corp. and Beijing-based China Oceanwide Holdings has closed. The real estate associated with the deal consists of both the site at 80 South St. and an adjacent parcel at 163 Front St. in New York City’s Seaport District, in lower Manhattan.
According to local media reports, an approximately 820,000-square-foot building, consisting of 440,000 square feet of residential and 380,000 square feet of commercial space, could be developed on the combined site.
The Howard Hughes Corp., headquartered in Dallas, had acquired the acreage in two separate deals during the past year.