A U.S. subsidiary of Beijing-based China Oceanwide Holdings has made a deal with Howard Hughes Corp. to purchase the development site at 80 South Street, in the Financial District, for $390 million, according to Crain’s. Along with the five-story building at 80 South Street, the assemblage includes the 10-story building at 163 Front Street. The site boasts 820,000 square feet of development rights, with residential space allowed to span 440,000 square feet while the remainder designated for some form of commercial space.
If you don’t live downtown, you might be forgiven for not knowing that the Howard Hughes Corporation is trying to remake the South Street Seaport. One of the key components of that is the new Pier 17, which is already in the works. Though the plan hit a bump in the road at Tuesday’s session of the Landmarks Preservation Commission, they aren’t dead in the water.
Plans for 80 South Street are changing once again, as Howard Hughes is looking to become involved with the site; the current owner is Cord Meyer, but Hughes is looking to take a controlling interest…