It may not be all gloom and doom for General Growth Properties after all. The developer of Pier 17 and the South Street Seaport and of a major mixed-use project on East 125th Street saw its share price jump on Tuesday, according to Bloomberg News.
The jump, driven by Pershing Square Capital acquiring Read More
General Growth, the Chicago-based developer aiming to redevelop the South Street Seaport and to build a 1.7 million-square-foot entertainment and housing complex in East Harlem, has hired a bankruptcy attorney, according to today’s Wall Street Journal.
While the move does not necessarily mean the mall developer plans to declare Read More
Things aren’t looking all that promising for General Growth Properties’ two Manhattan mega-projects, and not just because the company is foundering so badly that it was last week delisted from the Standard & Poor’s 500.
Though let’s not kid ourselves: A corporation in such dire straights that its stock has been deemed nearly worthless Read More
A debt load of $27 billion could doom General Growth Properties, the mall-making conglomerate that’s redeveloping the South Street Seaport and leading the development of a large East Harlem project. According to the Wall Street Journal this morning, General Growth’s failure to refinance or to extend $1 billion in debt due this month could Read More
From Commercial Property News: "On the heels of suspension of dividend payments and the replacement of the company’s CFO at the beginning of October, Chicago-based REIT General Growth Properties Inc. has shaken up management and announced intentions to market certain Las Vegas properties. All of these efforts are designed to help the company survive Read More
As part of its effort to oppose the plan to redevelop South Street Seaport, the Municipal Art Society put up a slideshow yesterday on its Web site intended to illustrate how a residential tower at the site would overwhelm the historic district.
The society has come out strongly against the development, planned by Read More
Facing a lengthy approval process and a wary community board, developer General Growth Properties is bringing its campaign to redevelop South Street Seaport to the streets, as it unveiled a storefront exhibit on the seaport this morning.
For the exhibit, "Seaport Past & Future," General Growth brought on architect and writer James Sanders Read More
Following the reveal in today’s Times of the long-awaited plans to redo Pier 17 and the South Street Seaport, we chatted with Michael McNaughton, a vice president with developers General Growth Properties, about the company’s plans for the site.
The planned redo of the site comes more than two decades after developer Read More
Tomorrow is Flag Day! A Flag Day ceremony will be held at 1pm at the South Street Seaport’s Pier 17.
U.S. Commerce Secretary Carlos Gutierrez keynotes a Flag Day naturalization ceremony at the Intrepid Sea, Air, and Space Museum.
Staten Island Beep James Molinaro hosts a ceremony celebrating Flag Day and the 231st birthday of Read More
Waterfront: A Journey Around Manhattan, by Phillip Lopate. Crown Publishers, 421 pages, $25.95
Acclaimed essayist Phillip Lopate, who grew up in the crowded slums of Williamsburg, has long marveled at the transformation of his native city over the last half-century. In Waterfront: A Journey Around Manhattan , he laces up his sneakers and sets Read More