Chinese investors pay $390 million for right to build super-tower near South Street Seaport

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rendering-South-Street-Seaport.jpg&imageversion=widescreen&maxw=770August 8, 2015- Crain’s reports, “A Chinese investment firm announced it has agreed to pay $390 million for a development site near the South Street Seaport, paving the way for the erection of yet another super-tall skyscraper in a city that is quickly sprouting 1,000-foot plus tall towers.

The Beijing-based investment company China Oceanwide Holdings released a statement confirming that a U.S. subsidiary of the firm is in contract to acquire both the site at 80 South St. and a neighboring parcel at 163 Front St. from the Howard Hughes Corp.—the would-be developer of the nearby South Street Seaport.

A roughly 820,000 square foot building, with about 440,000 square feet of residential and 380,000 square feet of commercial space, can be developed on the combined site, which Howard Hughes bought in two separate deals and assembled together over the past year, according to city records.”

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