General Growth Puts South Street Seaport Up for Sale

Indebted REIT General Growth Properties has hired a London-based brokerage to market the South Street Seaport, along with two other retail hubs in Boston and Baltimore.

General Growth, the nation's second-largest mall owner, had planned to redeveloped the Seaport. A large amount of debt accumulated during the real estate boom--as well as local opposition over changing the landmark--stymied those plans, which included a boutique hotel and a retail complex.  read more »

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