Beijing-based investment company China Oceanwide Holdings, founded in 1985 by Mr. Zhiqiang Lu, announced this week that it had purchased two lots adjacent to the South Street Seaport development in New York for $390 million (or HK$3B). The two parcels at 80 South Street and a neighboring site at 163 Front Street were sold by Howard Hughes Corp., the developer behind the new Seaport. Howard Hughes acquired the two sites over the past year, and combined they could be the site of an 820,000-square-foot tower with 440,000 square feet of residential space and 380,000 square feet of commercial space. CBRE brokers Darcy Stacom, Bill Shanahan and Paul Leibowitz handled the sale on behalf of the Howard Hughes.
The site at 80 South St. has long been envisioned as a location for a soaring structure, according to a Crain's report. Construction manager and developer Frank Sciame planned a unique-looking tower there designed by architect Santiago Calatrava, but eventually abandoned the complex project.
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