Posted Feb 8, 2026, 11:20 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,612
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https://nypost.com/2026/02/08/business/250-water-st-sells-for-7-5m-less-than-asking/
250 Water St. sells for $7.5M less than asking — with ‘deeply affordable’ rental units on the horizon
By Steve Cuozzo
Feb. 8, 2026
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Privately owned developer Tavros just closed on its long-awaited purchase of the empty one-acre site at 250 Water St. for a lower price than previously announced — and it plans a big increase in the number of rental apartments the mixed-use project will have.
Tavros paid $143 million, or less than the $150.5 million reported last summer and even farther below the $180 million that previous owner Howard Hughes Corp. paid in 2018. JLL brokered the transaction. Atlas Capital provided an equity investment alongside Tavros.
More important for Lower Manhattan, the new plan for 250 Water St. will have 600 rental units compared with 400 previously planned by HHC spinoff Seaport Entertainment Group. Some 25% of them will be affordable of which 80% will be “deeply” affordable, Tavros said.
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The company plans to use the facade and massing previously drawn up by Skidmore, Owings & Merrill — but Fogarty Finger has been tapped as the new design architect and architect of record.
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