Seaport Entertainment Group Completes Sale of 85 South Street Residential Building for $8.25 Million
Key Highlights
- ➤85 South Street residential building sale completed for $8.25 million
- ➤Seaport Entertainment Group (SEG) says sale strengthens its balance sheet
- ➤Property includes 21 multifamily units and 5,500 square feet of ancillary leasable space
Expert Statements
Lenah Elaiwat, Chief Financial Officer and Treasurer of Seaport Entertainment Group
“Selling 85 South Street is another incremental step to strengthen our balance sheet while keeping our focus on the entertainment and hospitality destinations that most closely align with our strategic priorities”
Michael Mintz, Chief Executive Officer and Founder of MD Squared Property Group
“We are grateful to have had the opportunity to work with Matt Partridge and the entire team in the Seaport and thank them for a smooth transaction”
Asaf Fligelman, Partner at Churchwick Partners
“We thank Seaport Entertainment Group for their careful stewardship of this asset”
Asaf Fligelman, Partner at Churchwick Partners
“85 South Street fits squarely in our strategy of acquiring unique, value-add assets with strong underlying fundamentals”
Seaport Entertainment Group Completes Sale of 85 South Street Residential Building for $8.25 Million
Seaport Entertainment Group Inc. (NYSE: SEG) (“Seaport Entertainment Group,” “SEG,” “we,” “our," or the “Company”) announced today it has successfully completed the sale of the eight-story residential building located at 85 South Street, New York, NY to an affiliate of MD Squared Property Group and Churchwick Partners for a sale price of $8.25 million.
Get started
Create a free account to read the full story.