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80 South St. High-Rise Could Soar Past 1,430 Feet

By Irene Plagianos | March 18, 2016 2:51pm | Updated on March 21, 2016 8:52am
 A rendering of the residential tower slated for 80 South St.
A rendering of the residential tower slated for 80 South St.
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80 South Street LLC

LOWER MANHATTAN — Chinese developers are pushing ahead with a plan to build a 1,436 foot-tall residential tower at 80 South St.

The site's owner, the Howard Hughes Corporation — the South Street Seaport's developer — announced that its plans to sell the waterfront site for $390 million to investment firm China Oceanwide Holdings have been finalized.

According to The Real Deal, the skyscraper can move forward with a plan to soar as high as 113 stories thanks to the transference of air rights to the site, which the City Planning Commission approved in February.

The building, between Fletcher and John streets, may also include a hotel or office space.

“This transaction is another sign that the Seaport District, with its unmatched views and distinct sense of place, is gaining recognition as one of the city’s hot spots," Howard Hughes CEO David Weinreb said in a statement.

The Howard Hughes Company is in the midst of a controversial redevelopment of the South Street Seaport — a development plan that once included a soaring residential tower on the site of a former Fulton Fish Market building, though that plan has been nixed.