Howard Hughes Corp. Acquires Development Site In Downtown - Seaport For $180M

The development site located at 250 Water Street in New York City's Downtown – Seaport market has been sold in a closed transaction for a price of $180,000,000. The property spans a total square footage of 290,000, with a price per buildable square foot (PBSF) estimated at $620. The seller of the site was Milstein Properties, with Howard Milstein representing the company. The buyer of the property was the Howard Hughes Corp., represented by David Weinreb.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $180,000,000
• Address: 250 Water Street, New York
• Market: Downtown – Seaport
• Total Square Footage: 290,000
• Price per Buildable Square Foot (PBSF): $620 (approx.)
• Seller: Milstein Properties - Howard Milstein
• Buyer: Howard Hughes Corp. - David Weinreb

David Weinreb, representing the Howard Hughes Corp., successfully brokered the acquisition of the development site at 250 Water Street. This transaction marks a significant investment in the Downtown – Seaport market and highlights the ongoing development and growth in the area.