New York, Feb 09 — Seaport Entertainment Group Inc. (NYSE: SEG) announced today it has successfully completed the sale of the mixed-use development project located at 250 Water Street for a sale price of $143.0 million to Tavros, a privately owned real estate investment management and development firm based in New York City.
250 Water Street was originally acquired by Howard Hughes Holdings, the Company’s former parent, in June 2018. The one-acre site spans a full city block, bordered by Peck Slip, Pearl Street, Water Street, and Beekman Street, and is currently entitled for the construction of a 26-story, mixed-use building with up to 399 market-rate and affordable residential units and approximately 200,000 square feet of commercial, retail and community space.
SEG was represented in this transaction by a JLL team led by Andrew Scandalios, Ethan Stanton, and Nicco Lupo.