Diagram of 80 South Street proposal, via Oceanwide Holdings
After a long-planned but never executed plan to develop buildings at 80 South Street and 163 Front Street in the South Street Seaport, the site’s owner has officially filed demolition permits at both buildings, Curbed learned. As 6sqft previously covered, the Howard Hughes Corporation sold 80 South Street to China Oceanwide Holdings for $390 million last March. Although the developer hasn’t released construction plans yet, the building is expected to be 113 stories tall, reaching an impressive 1,436 feet (to give you an idea of just how tall this is, 432 Park is 1,396 feet tall, and One World Trade Center is 1,368 feet tall by roof height).
More details ahead
The sale of 80 South Street from Howard Hughes Corp. to China Oceanwide Holdings has been finalized, reports The Real Deal. The $390 million deal was first announced in August, but closing was contingent on Howard Hughes transferring an additional 303,113 square feet in air rights to the address after already securing 104,167 square feet. With this, 80 South Street’s development potential has grown to 817,784 square feet and a tower of 1,436 feet (to put this in perspective, 432 Park is 1,396 feet tall, while 1 WTC is 1,368 feet tall by roof height) with 113 floors could soon rise on the site which has sat in redevelopment limbo for over a decade.
Rendering created by CityRealty based on the reported height
There’s no slowing down the city’s supertall boom. Crain’s reports yet another 1,000-foot plus tall tower could soon be joining the New York City skyline, rising at the combined sites of 80 South Street and 163 Front Street. Chinese investment company China Oceanwide Holdings released a statement saying they would be purchasing the development parcels for $390 million through a U.S. subsidiary from current owner Howard Hughes Corporation. The new tower will sit just south of the South Street Seaport, and amid a grouping of other tall, but not quite as tall, towers.
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