Seaport Entertainment Group sells 85 South Street residential building for $8.25 million
SEG•Seaport Entertainment Group completed the $8.25 million sale of its 85 South Street residential building in Lower Manhattan. The eight-story property has 21 multifamily units and 5,500 square feet of ancillary leasable space.
1. Sale details
Seaport Entertainment Group sold the building to an affiliate of MD Squared Property Group and Churchwick Partners. The company expects the proceeds to support balance-sheet strengthening and a focus on entertainment and hospitality destinations. Howard Hughes Holdings acquired the asset in October 2014.
