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Oxford Acquires NYC Waterfront Development Site for $700M
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Toronto-based Oxford Properties Group entered into an agreement with Westbrook Partners and Atlas Capital Group for the redevelopment of the St. John’s Terminal site in New York City. Oxford is acquiring the three-block long property in the Hudson Square submarket of Midtown South for roughly $700 million.
The five-acre site is entitled for a mixed-use complex of roughly 1.6 million square feet of commercial and residential uses. Plans include five buildings with 1,586 apartments, a hotel, offices, and roughly 400,000 square feet of retail. Located on Manhattan’s west side at 550 Washington St. the property features nearly 850 feet of Hudson River frontage.
The sellers were Atlas Capital and Westbrook Partners, in a deal handled by Cushman & Wakefield’s Douglas Harmon and Adam Spies. Oxford will lead the commercial development, and Westbrook and Atlas will continue to lead the residential development.
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