March 18, 2016
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.
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