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New York & Tri-State  + Downtown New York + New York  + Apartments  | 
250 Water Street rendering South Street Seaport Lower Manhattan Howard Hughes Corporation

Howard Hughes Corp. Gets Final Approvals on $850M Seaport Mixed-Use

The Howard Hughes Corporation has gotten final approvals from the city for its $850-million 250 Water St. development project at the Seaport in Lower Manhattan. The 26-story mixed-use project, will include both affordable and market-rate rental apartments, in a switch from the original plan to offer for-sale housing.  

A condition of project approval was HHC’s donation of $40 million to the South Street Seaport Museum, with another $10 million in museum funding from the city. HHC has also obtained approval from the City to extend the company’s ground lease for city-owned properties at the Seaport to 99 years. 

“We are firmly committed to a bright future for the Seaport neighborhood, and our 250 Water St. project is at the heart of our vision for this vital and historic part of the city,” said Saul Scherl, president of the New York Tri-State region for HHC. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Policy/Gov't
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