New York & Tri-State + Apartments | May 5, 2021

NYC’s Landmarks Commission Approves HHC’s Scaled-Down Plan for Seaport Apartment Tower

New York City’s Landmarks Preservation Commission on Monday approved the Howard Hughes Corporation’s plan for a new Seaport District apartment tower at 250 Water St., currently a one-acre empty lot, the New York Post reported. The approval came after HHC scaled down the project from two 470-foot towers into a single 300-foot tower.

The commission’s 6-2 vote allows HHC’s plan to begin the seven-month Uniform Land Use Review Procedure this month. The project doesn’t require a zoning change, but does need a special permit for height and an air-rights transfer from the nearby Tin Building and Pier 17.

Budgeted at upwards of $800 million, the project will include community spaces, office suites and apartments. It also entails a long-term commitment to keep the financially-strained South Street Seaport Museum running.

HHC tristate-region president Saul Scherl said the project would play a “vital role in the city’s inclusive post-pandemic economic recovery.”

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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 13-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 15-20 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).

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