Again, lots of speculation on nothing much. They could be likely to sell, but they've only owned the site since 2016. That makes 2 years. By that calculation, many developments in the city have been stalled for years before anything moves forward on site.
Quote:
...there has been a remarkable lack of activity. No demolition work has been carried out at either of the two sites purchased from Howard Hughes and no plans have been submitted to the city’s Department of Buildings.
Despite this complete lack of activity since 2016, an announcement to shareholders by China Oceanwide on August 30th , 2018 covering the preceding six months stated with regard to 80 South that “the conceptual design of the project has been completed and the schematic design is currently in progress” without providing any further details.
The lack of activity at 80 South might not seem particularly significant if it were an isolated case. But China Oceanwide has been on a massive real estate buying spree, fueled by a seemingly limitless access to credit made possible perhaps in part by the conglomerate’s opaque structure (it has more than 100 subsidiaries) and good political connections. 80 South is just one of a number of Oceanwide’s real estate development mega projects in the U.S. which have been stalled for years.
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I wouldn't assume that they would be able to build, even if they weren't scaling back on development.
Furthermore, if they did decide to sell, with all approvals already in place, another developer would likely buy the site.
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