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South Street Seaport For Sale, But Not Really
By
Jen Carlson
Published Dec 27, 2008
Modified Dec 27, 2008
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By
Jen Carlson
Published Dec 27, 2008
Modified Dec 27, 2008
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Just what is going on at South Street Seaport? First it's getting redeveloped (with much resistance from the locals), and then it's being sold by the development company. Curbed explains: "Yes, troubled South Street Seaport leaseholder General Growth Properties put the Lower Manhattan megamall/tourist trap up for sale last week, seemingly putting an end to the company's desire to redevelop the historic port into a massive retail/hotel/residential thingamajig. But don't scrape together your down payment just yet! General Growth has no real plans to sell the darn thing." The Downtown Express got word from an insider, who says "the firm has been looking for investors for the Seaport for several months, and the company intends to retain the property. But since General Growth would consider selling the property if the right offer came in, the company had to say that the sale is an option, even if it’s not likely." Sounds like they're really attached to the project.
Tagged
General Growth PRoperties
real estate
redevelopment
south street seaport
Jen Carlson
Jen Carlson is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
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