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Deals & Dealmakers Headline

Howard Hughes buys South Street parcel for $100M

By Konrad Putzier

Rendering of Morali's 80 South Street
Rendering of Morali’s 80 South Street

The Howard Hughes Corporation has dished out $100 million for 80 South Street, a site just south of its planned (and controversial) Seaport tower.

The parcel, currently a five-story walkup, will likely be turned into another skyscraper. Queens developer Cord Meyer had previously secured the City Planning Commission’s approval of a 300,000-s/f hotel and residential tower designed by Morali Architects. Meyer later decided to sell the proposal and the site to Howard Hughes. The deal has now closed, according to property records.

Development of the 8,128-s/f parcel has been discussed for years. Frank Sciame had initially designed a tower with 10 townhome cubes for the site, but the project was shuttered during the recession.

With the purchase, Howard Hughes has cemented its position as of the dominant landlords around the South Street Seaport. In October, the Texas-based firm bought the 54,000-s/f rental building 85 South Street for $20 million.

The firm also plans to build a 495-foot tall condo and hotel tower and a mall at Pier 17, about two blocks north of 80 South Street, as part of its South Street Seaport development. The Seaport tower has run into fierce opposition from the local community board.

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