NEW YORK | 80 South Street | 1,436 FT | 113 FLOORS

[NYguy]

I'm pretty sure this is SHoP's downtown supertall. Can't wait to see what it is.



http://www.nypress.com/article/20150...96/(No-heading)




By Daniel Fitzsimmons

.....David Sheldon, a spokesperson for Save Our Seaport, said the shareholder letter indicated that the acquisitions were part of the same assemblage, but did not say whether the site would be proposed as an alternative location for the tower.

Although the company hasn’t formally announced its intentions, members of Save Our Seaport are inclined to think it will eventually be proposed as an alternative location for Howard Hughes’ residential tower.

“That’s our thinking, certainly,” said Sheldon. “They haven’t indicated to us that they’re building a giant tower there. They have, however, purchased the air rights to enable them to do so.”

Sheldon stopped just short of calling this latest development a victory for the community, and said much remains to be seen as to what Howard Hughes will propose to do with their massive assemblage.

“I think it’s really too soon to say if this is a win for the community,” said Sheldon. “We haven’t seen the shape of this tower yet…and we don’t know what the load on the community infrastructure will be as opposed to what it will offer.”

As for the Seaport, the only way a tower on Howard Hughes’ new assemblage site will infringe on the historic district is in the form shadows it will cast.

“Would it be something of a win? Certainly it’s a win for the Seaport, it’s a win for the waterfront,” said Sheldon. “But if the tower is being relocated it raises other questions.”

Sheldon added that the community is now waiting to see how this latest development “impacts the rest of the plans for the Seaport.”

Sheldon, sit down, and shut up already.

[NYguy]

We all know the answer...


http://ny.curbed.com/archives/2015/0...he_seaport.php

Is Another SHoP-Designed Tower Planned for the Seaport?


April 1, 2015
by Jessica Dailey

[sparkling]

Howard Hughes to Market 80 South Street


DANIELLE SCHLANGER
4/17/2015

The Howard Hughes Corporation, the real estate development company behind the South Street Seaport’s revitalization, has completed a site assemblage for 80 South Street, Commercial Observer has learned.

According to a spokeswoman for the company, Howard Hughes is marketing for sale or joint venture its interest in 80 South Street, the 8,128-square-foot site that sits on the corner of Fletcher Street by the East River. Last January, Real Estate Weekly reported that Howard Hughes paid $100 million for the site.

Howard Hughes believes a potential sale of this site will accelerate development in the area and enable the company to refocus resources across its existing Seaport footprint—including Pier 17 and the mixed-use development project.

“The Howard Hughes Corporation is deeply invested in the Seaport and committed to its success over the long term,” said David Weinreb, the chief executive officer of Howard Hughes, in prepared remarks. “By seeking a partner for this important site we hope to accelerate development in the area and focus all of our effort on the core Seaport District.”

The company noted that the potential sale or entrance into a joint venture of 80 South Street will not impact the proposed mixed-use building on the New Market site. This site is also independent from the current Seaport redevelopment proposal.

CBRE, which has been hired to market the 80 South Street site, did not immediately respond to a request for comment.

The property at 80 South Street has previously been the locus of architectural dreams. In the mid-aughts, creative mastermind Santiago Calatrava designed the “Sky Cubes,” a soaring 835-foot residential tower that ultimately died in 2008. After the demise of Mr. Calatrava’s luxury tower, Morali Architects outlined a plan for a 1,018-foot tall, mixed-use skyscraper, which received City Planning Certification in 2013.

[NYguy]

Howard Hughes is marketing for sale or joint venture its interest in 80 South Street, the 8,128-square-foot site that sits on the corner of Fletcher Street by the East River. Last January, Real Estate Weekly reported that Howard Hughes paid $100 million for the site.

Howard Hughes believes a potential sale of this site will accelerate development in the area and enable the company to refocus resources across its existing Seaport footprint—including Pier 17 and the mixed-use development project.

The company noted that the potential sale or entrance into a joint venture of 80 South Street will not impact the proposed mixed-use building on the New Market site. This site is also independent from the current Seaport redevelopment proposal.

I could see someone like Hines being brought in.

[sparkling]

Howard Hughes’ 80 South Street Caught in $900K Broker Lawsuit

LAUREN ELKIES SCHRAM
5/06/ 2015

Howard Hughes Corporation bought 80 South Street, adjacent to its South Street Seaport tower, from Cord Meyer Development late last December for $100 million. And now, one broker says he is owed a $900,000 commission check for bringing Howard Hughes into the deal.

Cord Meyer Development sold the 8,128-square-foot property at the corner of Fletcher Street by the East River to Howard Hughes, a spin-off of General Growth Properties, on Dec. 29, 2014. Since late last month Howard Hughes has been marketing the site for sale or joint venture, as Commercial Observer previously reported. Independent broker Keith Zaret claims in his lawsuit that he and Cord signed a limited exclusive right to sale contract on Dec. 3, 2008 regarding 80 South Street, and that during the term of the agreement Mr. Zaret introduced GGP to his client.

The publicly-traded Howard Hughes spun off of GGP in 2010, assuming ownership of all of GGP’s development projects, and Mr. Zaret says that Howard Hughes was part of GGP when he introduced GGP to Cord. His commission was slated to be nine-tenths of one percent of the closing price, or $900,000. When the sale closed, Mr. Zaret, who previously worked at Citi Habitats, sent Cord an invoice for his commission, which it didn’t pay.

Last Friday, the defendant’s attorney, Rex Whitehorn of Rex Whitehorn & Associates, filed an affirmation in support of dismissing Mr. Zaret’s motion. The document states that the commission with Mr. Zaret would have been valid until Aug. 10, 2010, which was 18 months after the Feb. 11, 2009 stated contract termination date. The plaintiff, the papers say, did not submit a purchaser within the agreed upon time frame.

In addition, the legal documents state that “the agreement identifies a list of three designated buyers that plaintiff will seek to sell the subject property to.” Those buyers included Edward J. Minskoff Equities, Philip International Realty and Taconic Investment Partners. It “does not contain any reference to General Growth Properties,” the legal papers say, nor Howard Hughes.

Neither Mr. Whitehorn nor Mr. Zaret’s attorney, Arthur “Scott” L. Porter of Fischer Porter & Thompson, responded to requests for comment. No one from Cord responded to requests for comment and nor did Howard Hughes through a spokeswoman. Mr. Zaret declined to comment.

[Sky88]

So... Howard Hughes builds something on 80 South Street site or what?

[NYguy]

Originally Posted by Sky88

So... Howard Hughes builds something on 80 South Street site or what?

They will either do a joint development, or sell the property outright.

Howard Hughes is marketing for sale or joint venture its interest in 80 South Street

[Zapatan]

Aren't there strict contracts for deals like that? How does someone forget to pay 900K for someone's commission?

In any case, I hope it's not too much of a hurdle.

They will either do a joint development, or sell the property outright.

A joint development would be a good thing I'm guessing. But if they sell the property is it still known whether SHoP would be designing the building? I'm a bit confused as to why it was indicated that SHoP would design a 1400+ foot building at this site when it's not even certain who's gonna own it?

[JR Ewing]

Shop has a nice tower posted on Instagram. I suspect that it's 80 South St.

[Hudson11]

I'm more interested in the model of Lower Manhattan hanging on the wall with the site of 80 South Street conveniently out of frame.

[JR Ewing]

Originally Posted by Hudson11

I'm more interested in the model of Lower Manhattan hanging on the wall with the site of 80 South Street conveniently out of frame.

That whole model can be seen in the Instagrsm site. It was just cut out of the image I posted. Nothing is shown on the 8O South St site on the model.

[Sky88]

There is not indication that the towers in the picture are related to the 80 South Street project.

[JR Ewing]

Obviously. It's speculation. The design reminds me of waving sails.

[Hemeroscopium]

Lol!..anyway,I feel very confident:with Shop,we can't go wrong!

[JR Ewing]

Originally Posted by Hemeroscopium

Lol!..anyway,I feel very confident:with Shop,we can't go wrong!

I agree.

[Hemeroscopium]

....Shop is becoming what Mc Kim Mead and White were,a century ago: a guarantee of excellence!
They have that culture and understanding of NY that makes the difference with other architects.

[chris08876]

Chinese investors pay $390 million for right to build super tower near South Street Seaport

A Chinese investment firm announced it has agreed to pay $390 million for a development site near the South Street Seaport, paving the way for the erection of yet another super-tall skyscraper in a city that is quickly sprouting 1,000-foot plus tall towers.

The Beijing-based investment company China Oceanwide Holdings released a statement confirming that a U.S. subsidiary of the firm is in contract to acquire both the site at 80 South St. and a neighboring parcel at 163 Front St. from the Howard Hughes Corp.--the developer of the nearby South Street Seaport.

A roughly 820,000 square foot building, with about 440,000 square feet of residential and 380,000 square feet of commercial space, can be developed on the combined site, which Howard Hughes bought in two separate deals and assembled together over the past year, according to city records.

Chinese real estate investors have increasingly poured money into the city. In late 2013, the Shanghai-based company Fosun, purchased the nearby downtown office building 1 Chase Manhattan Plaza for $725 million, subsequently renaming it 28 Liberty St. Earlier this week it won approval to create retail space it plans to spend $200 million building under the property.

Other Chinese firms have sought to build tall as well. Kaufu Properties reached a deal in recent weeks to buy a development site on East 60th Street that can potentially accommodate a 1,000-foot tall residential tower for more than $300 million, according to reports.

There has been a boom of ultra-tall towers in the city in general. As Crain's reported August 5, developers Michael Stern and Joe Chetrit have struck a $90 million deal that will allow them to raise a tower in downtown Brooklyn that could be nearly as tall as the Empire State Building. That spire will be the tallest outside of Manhattan and possibly one of the highest in the entire city.

The site at 80 South St. has long been envisioned as a location for a soaring structure. Construction manager and developer Frank Sciame planned a unique-looking tower there designed by architect Santiago Calatrava, but eventually abandoned the complex project. CBRE brokers Darcy Stacom, Bill Shanahan and Paul Leibowitz handled the sale on behalf of the Howard Hughes.

==============================
http://www.crainsnewyork.com/article...ld-super-tower

[Hypothalamus]

Excellent! The Chinese don't hesitate to get things done, even if that means driving over NIMBYs.

[Vertical_Gotham]

^^ I agree, the Chinese don't screw around. This is good news and can't wait. Howard Hughes literally has too much on their plate and up to their necks dealing with the Nimbys with their South Street Seaport development, which they are clearly committed to see it through.

I really hope the new developer will retain SHoP, but I'm sure they will build something fantastic regardless.

The good news is that this site is as-of-right with no height restrictions, so the Nimby's can just sit on the sidelines all they want and freak out.

You don't buy for $390 M and not build supertall and this sucker is fully assembled and ready to go!



More on the developer:

Chinese firm to pay $390M for Seaport development site Property could give rise to supertall tower
http://therealdeal.com/blog/2015/08/....PYBu4mCU.dpuf


From left: Oceanwide Holdings chairman Lu Zhiqiang, 80 South Street and 163 Front Street

China Oceanwide Holdings purchased a large development site near the South Street Seaport from the Howard Hughes Corp., paying $390 million. The deal could give rise to Manhattan’s latest supertall tower.

The site, at 80 South Street and 163 Front Street in the Financial District, on the outskirts of the Seaport, previously received permission from the City Planning Commission for redevelopment into a roughly 820,000 square foot mixed-use tower, comprised of 440,000 square feet of residential and 380,000 square feet of commercial space, Crain’s reported.

The Beijing-based investment firm is a 59-percent-owned subsidiary of Chinese developer Oceanwide Holdings, controlled by billionaire Lu Zhiqiang, the 248th richest person on earth, with a net worth of $5.9 billion, according to Forbes. The company owns several buildings on the West Coast, but this appears to be their first purchase in New York.

Howard Hughes Corp., the would-be developer of the South Street Seaport, assembled the site in two recent deals, according to Crain’s. It purchased the 8,128 square foot 80 South Street, where a six-story office building now stands, from Cord Meyer Development last year for $100 million. And, in March, it picked up the 6,552 square foot parcel at 173 Front Street, currently home to a 10-story commercial building, for $24 million.

The deal adds to a long string of major purchases in the city by Chinese buyers.

[Crawford]

Say hello to another Chinese-funded supertall.

The only question is whether this will be a mere supertall or something to really stand out.