NEW YORK CITY—A Chinese real estate developer and investor haspurchased a development parcel surrounding the South Street Seaportfor $390 million. China Oceanwide Holdings hasacquired 80 South St. and a neighboring site at 163 Front St. fromthe Howard Hughes Corp., the developer of therevamped Seaport.
In a statement on the purchase, China Oceanwide says only thatit will build a mixed-use property with both commercial andresidential space. However, the combined site could support an820,000 square foot building featuring approximately 440,000 squarefeet of residential space and 380,000 square feet of commercialofferings, according to Crain's New York Business.
China Oceanwide could not be reached for comment at press time.Howard Hughes spokespersons declined to comment.
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