As Predicted, China Oceanwide Now Quietly Approaching Potential Buyers For 80 South Street

1,436-Foot Tall 80 South Street Becomes Largest Likely Casualty Of Chinese-Owned Development Bust

New York YIMBY’s prescient call comes true, not surprisingly. China Oceanwide was never going to do anything with its prime piece of Downtown Manhattan real estate:

China Oceanwide Holdings Quietly Marketing 80 South Street for $300M

The real question now is, who are the potential buyers and what might they do with the lot?

Again as predicted, China Oceanwide’s mega real estate development projects across the U.S. are going nowhere, fast:

http://www.ladowntownnews.com/development/after-huge-project-stalls-questions-rise-at-south-park-s/article_8692eee8-2c02-11e9-bc89-1ff09d568cf1.html

UPDATE: Howard Hughes Approached To Buy 80 South Street

China Oceanwide, the Beijing-based conglomerate that purchased 80 South Street from Howard Hughes Corp. in 2016, recently approached HHC about a possible sale back to them.  As China Oceanwide has upcoming key liquidity dates this month, the company is out of money and faces restrictions on domestic funds leaving China. Acquiring 80 South would seem to make sense for HHC as the company already owns 85 South next door and could combine the two sites to build a residential or mixed-use supertall without community pushback.

Leave a comment

Your email address will not be published. Required fields are marked *