Possible insight into the Seaport owner’s plans to develop the area?

April 10, 2011 § Leave a comment

Found this letter to the shareholders of the Howard Hughes Corporation, April 7, 2011:

http://www.stockhouse.com/News/USReleasesDetail.aspx?n=8122015

It’s mostly business talk, but the company’s Chairman uses the South Street Seaport as an example of one of their “more valuable assets” whose potential as a real estate cash cow is not being fully tapped. The area made $5m last year, but he believes it could return more like $100m. In fact, the company “discontinued granting long-term leases to tenants as it prepared the property for a major redevelopment.” I’m not certain which properties they own (not Bowne or the Museum, I don’t think, since it appears the city may own those?), but if I were a local business owner, I would worry about my own lease going up, or being terminated, in a ripple effect. – LKN

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

What’s this?

You are currently reading Possible insight into the Seaport owner’s plans to develop the area? at Friends of Bowne.

meta

%d bloggers like this: