Beijing-based investment company China Oceanwide Holdings has agreed to buy two adjacent Seaport sites from the Howard Hughes Corp. for $390 million, Crain's reports. Howard Hughes acquired the two sites, at 80 South Street and 163 Front Street, over the past year, and combined they could be the site of an 820,000-square-foot tower with 440,000 square feet of residential space and 380,000 square feet of commercial space. Although other Chinese companies such as Kuafu Properties and Fosun International Ltd. have been other similarly huge deal lately, this appears to be China Oceanwide Holdings' first foray into the world of New York City megatower developing.
The 80 South Street site has been the site of proposed towers in the past, including one that would have reached over 1,000 feet. It was at one point speculated that SHoP would design a project for Howard Hughes.
· Chinese investors pay $390 million for right to build super tower near South Street Seaport [Crain's]
· 80 South Street coverage [Curbed]
· 163 Front Street coverage [Curbed]