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Tuesday, 12 June 2018

Howard Hughes Pays $180Mln for Manhattan Development Site

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The Howard Hughes Corp. has paid $180 million for the development site at 250 Water St. in Manhattan's Seaport District.

The Dallas developer acquired the one-acre site from Milstein Properties, a New York developer that bought it in 1979 for $5.7 million.

Howard Hughes obtained a $127 million mortgage to help fund its purchase. The loan has an initial term of six months and does not require interest payments. But it also comes with three, six-month extension...

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“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

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Additional Info

  • Syndicate to Realpoint: No
  • Cities: New York City
  • States: New York
  • Subject: Property Acquisitions (ACQ)
  • Valuation: More than $150 million
  • Private: Yes
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