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South Street Seaport

By Stephen Duffy 1/12 5:42pm

Shiver me timbers, what of the tower? (SHoP)

“Over Pier, We Have A New Plan!” More Developments at South St. Seaport

Avast, downtown!

Howard Hughes Corp. is set to reveal its plans for the renovation of Pier 17 at South Street Seaport, according to Crain's. The plans will first have to get the all clear from Landmarks Preservation Commission, which oversees the seaport historic district, and it is hoped the plans will be submitted sometime in the first half of 2012.

The bid faced opposition in the past from the commission when it was presented by General Growth three years ago, prior to the massive mall operator's bankruptcy. Read More

By Matt Chaban 1/07/11 6:34pm

Anchors Away

Howard Hughes Corp Floating Still-Mysterious Plans for Seaport

The news keeps trickling out about the redevelopment of the South Street Seaport, now that the Howard Hughes Corp. has spun off from the no-longer-bankrupt General Growth Properties. The new company, led by wily Bill Ackman, was created pretty much for the explicit purpose of redeveloping a number of nascent mixed-use projects General Growth Read More

By Matt Chaban 12/16/10 11:34pm

Anchors Away

More Ripples at SHoP and Ackman’s Seaport

General Growth Properties plans for the South Street Seaport appeared sunk when the retail giant filed for bankruptcy last year. All was not lost at sea, though, as lead architect Gregg Pasquarelli, of SHoP Architects, told The Observer back in September: "We assume the Seaport will be going forward at some point. We Read More

By Matt Chaban 10/08/10 8:48pm

Wily Bill Ackman Gets His East Side Development (But Not the One You Think)

So Bill Ackman's not gonna wind up with Stuyvesant Town, even if he'll still probably make his money back. That won't stop him. Whatever Wily Bill wants, Wily Bill gets. If it happens to be a development site somewhere on the southeastern side of Manhattan, then so be it, Bill will find Read More

By Tom Acitelli 12/19/08 2:50pm

General Growth Puts South Street Seaport Up for Sale

Indebted REIT General Growth Properties has hired a London-based brokerage to market the South Street Seaport, along with two other retail hubs in Boston and Baltimore.

General Growth, the nation's second-largest mall owner, had planned to redeveloped the Seaport. A large amount of debt accumulated during the real estate boom--as well as local opposition over Read More

By Tom Acitelli 12/12/08 3:45pm

Seaport Developer General Growth Refinances, Still Faces Default

From the Wall Street Journal this morning:

[General Growth Properties] completed $896 million of mortgage loans used to retire a $58 million bond that matured Thursday and refinance $814 million in mortgage loans maturing next year. General Growth said the loans are separate from the $900 million in debt backed by two of its Read More

By Dana Rubinstein 12/10/08 12:41am

Clock Ticks on Seaport Developer

General Growth Properties reportedly has until Friday to reach an agreement regarding $900 million in debt, casting further doubt on the firm’s plans to redevelop the South Street Seaport and, to a lesser extent, its plans to take part in a $700 million mixed-use development in East Harlem.

“I guess the entire community is Read More

By Tom Acitelli 12/05/08 4:27pm

Zero Hour Approaching For Severely Indebted Seaport Developer

Mall maker and owner General Growth Properties got the nod in the summer to redevelop the South Street Seaport with an ambitious vision that included an apartment/hotel tower, a new retail complex and a boutique hotel. In the early autumn, the city tapped General Growth to lead the development of a massive mixed-use, Read More

By Tom Acitelli 11/26/08 2:59pm

Not Doomed! Seaport Developer General Growth Sees Stock Jump

It may not be all gloom and doom for General Growth Properties after all. The developer of Pier 17 and the South Street Seaport and of a major mixed-use project on East 125th Street saw its share price jump on Tuesday, according to Bloomberg News.

The jump, driven by Pershing Square Capital acquiring Read More

By Dana Rubinstein 11/20/08 3:22pm

Developer of Two City Mega-Projects Hires Bankruptcy Attorney

General Growth, the Chicago-based developer aiming to redevelop the South Street Seaport and to build a 1.7 million-square-foot entertainment and housing complex in East Harlem, has hired a bankruptcy attorney, according to today's Wall Street Journal.

While the move does not necessarily mean the mall developer plans to declare Read More

By Dana Rubinstein 11/18/08 11:25pm

South Street Seaport Developer General Growth Saddled With Debt, Doubts

Things aren’t looking all that promising for General Growth Properties’ two Manhattan mega-projects, and not just because the company is foundering so badly that it was last week delisted from the Standard & Poor’s 500.

Though let’s not kid ourselves: A corporation in such dire straights that its stock has been deemed nearly worthless Read More

By Tom Acitelli 11/11/08 3:04pm

Debt Could Doom South Street Seaport Developer

A debt load of $27 billion could doom General Growth Properties, the mall-making conglomerate that's redeveloping the South Street Seaport and leading the development of a large East Harlem project. According to the Wall Street Journal this morning, General Growth's failure to refinance or to extend $1 billion in debt due this month could Read More

By Tom Acitelli 10/27/08 7:23pm

South Street Seaport Developer Replaces CEO Amid $27 B. in Debt

From Commercial Property News: "On the heels of suspension of dividend payments and the replacement of the company’s CFO at the beginning of October, Chicago-based REIT General Growth Properties Inc. has shaken up management and announced intentions to market certain Las Vegas properties. All of these efforts are designed to help the company survive Read More

By Eliot Brown 10/22/08 9:35pm

Municipal Art Society Presents: An Anti-Seaport Tower Slideshow

As part of its effort to oppose the plan to redevelop South Street Seaport, the Municipal Art Society put up a slideshow yesterday on its Web site intended to illustrate how a residential tower at the site would overwhelm the historic district.

The society has come out strongly against the development, planned by Read More

By Eliot Brown 7/31/08 8:27pm

In Pushing Seaport Redo, Developer General Growth Goes Retail

Facing a lengthy approval process and a wary community board, developer General Growth Properties is bringing its campaign to redevelop South Street Seaport to the streets, as it unveiled a storefront exhibit on the seaport this morning.

For the exhibit, "Seaport Past & Future," General Growth brought on architect and writer James Sanders Read More

The New York Observer

South Street Seaport

“Over Pier, We Have A New Plan!” More Developments at South St. Seaport

Howard Hughes Corp Floating Still-Mysterious Plans for Seaport

More Ripples at SHoP and Ackman’s Seaport

Wily Bill Ackman Gets His East Side Development (But Not the One You Think)

General Growth Puts South Street Seaport Up for Sale

Seaport Developer General Growth Refinances, Still Faces Default

Clock Ticks on Seaport Developer

Zero Hour Approaching For Severely Indebted Seaport Developer

Not Doomed! Seaport Developer General Growth Sees Stock Jump

Developer of Two City Mega-Projects Hires Bankruptcy Attorney

South Street Seaport Developer General Growth Saddled With Debt, Doubts

Debt Could Doom South Street Seaport Developer

South Street Seaport Developer Replaces CEO Amid $27 B. in Debt

Municipal Art Society Presents: An Anti-Seaport Tower Slideshow

In Pushing Seaport Redo, Developer General Growth Goes Retail

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