NEW YORK CITY—A Chinese real estate developer and investor has purchased a development parcel surrounding the South Street Seaport for $390 million. China Oceanwide Holdings has acquired 80 South St. and a neighboring site at 163 Front St. from the Howard Hughes Corp., the developer of the revamped Seaport.
In a statement on the purchase, China Oceanwide says only that it will build a mixed-use property with both commercial and residential space. However, the combined site could support an 820,000 square foot building featuring approximately 440,000 square feet of residential space and 380,000 square feet of commercial offerings, 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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