Seaport Entertainment (NYSE: SEG) closes $143M sale of 250 Water Street project
Rhea-AI Filing Summary
Seaport Entertainment Group Inc. completed the sale of its mixed-use development project at 250 Water Street in New York City for $143.0 million. The asset was sold by subsidiary 250 Seaport District, LLC to 250 Water Street Owner LLC, an affiliate of Tavros, a privately owned real estate investment and development firm.
The one-acre site spans a full city block and is entitled for a 26‑story, mixed-use building with up to 399 residential units and about 200,000 square feet of commercial, retail and community space. The buyer has no material relationship with Seaport Entertainment Group outside of this transaction.
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Insights
SEG monetizes a major development site with a $143M asset sale.
Seaport Entertainment Group has converted its mixed-use 250 Water Street development project into
The buyer is an affiliate of Tavros, described as having no material relationship with SEG beyond this deal, suggesting a straightforward third-party transaction. The site’s entitlements for a 26‑story building with up to 399 residential units and approximately 200,000 square feet of commercial, retail and community space underscore its development potential now transferred to Tavros.
Financial impact depends on SEG’s original acquisition cost, carrying value, and any redeployment of proceeds, which are not detailed in the excerpt. Future periodic reports covering periods after
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Item 2.01Completion of Acquisition or Disposition of Assets.
On February 6, 2026, 250 Seaport District, LLC (the “Seller”), a subsidiary of Seaport Entertainment Group Inc. (the “Company”), completed the sale (the “Sale”) of a mixed-use development project located at 250 Water Street (“250 Water Street”) to 250 Water Street Owner LLC (the “Buyer”) for a sale price of $143.0 million. The Buyer is an affiliate of Tavros Holdings LLC, a privately owned real estate investment management and development firm based in New York City. The Buyer does not have any material relationship with the Company or its affiliates, other than in respect of the Sale.
Item 7.01Regulation FD Disclosure.
On February 6, 2026, the Company issued a press release announcing the completion of the Sale. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. The information in this Item 7.01, including the press release, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, unless it is specifically incorporated by reference therein.
Item 9.01Financial Statements and Exhibits.
(d) | Exhibits |
Exhibit No. | | Description |
99.1 | Press Release, dated February 6, 2026 | |
104 | Cover Page Interactive Data File (the cover page tags are embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: February 9, 2026 | SEAPORT ENTERTAINMENT GROUP INC. | |
By: | /s/ Lucy Fato | |
Name: | Lucy Fato | |
Title: | EVP, General Counsel & Corporate Secretary | |
Exhibit 99.1
FOR IMMEDIATE RELEASE
February 6, 2026
SEAPORT ENTERTAINMENT GROUP COMPLETES SALE OF
250 WATER STREET DEVELOPMENT PROJECT
NEW YORK, NY – Seaport Entertainment Group Inc. (NYSE: SEG) announced today it has successfully completed the sale of the mixed-use development project located at 250 Water Street for a sale price of $143.0 million to Tavros, a privately owned real estate investment management and development firm based in New York City.
250 Water Street was originally acquired by Howard Hughes Holdings, the Company’s former parent, in June 2018. The one-acre site spans a full city block, bordered by Peck Slip, Pearl Street, Water Street, and Beekman Street, and is currently entitled for the construction of a 26-story, mixed-use building with up to 399 market-rate and affordable residential units and approximately 200,000 square feet of commercial, retail and community space.
SEG was represented in this transaction by a JLL team led by Andrew Scandalios, Ethan Stanton, and Nicco Lupo.
About Seaport Entertainment Group
Seaport Entertainment Group (NYSE: SEG) is a premier entertainment and hospitality company formed to own, operate, and develop a unique collection of assets positioned at the intersection of entertainment and real estate. Seaport Entertainment Group’s focus is to deliver unparalleled experiences through a combination of restaurant, entertainment, sports, retail and hospitality offerings integrated into one-of-a-kind real estate that redefine entertainment and hospitality. For more information, please visit www.seaportentertainment.com.
About Tavros
Tavros is a privately-owned real estate investment management and development firm. They invest on a discretionary basis, with a strong focus on New York City, and a global investor base of family offices, trusts, high net worth individuals, and institutions. Core to the Tavros discipline is the quality of its partnerships with tenants, investors, and lenders. As an owner and property manager, Tavros aims to ensure a positive experience for its tenants through attention to detail and a focus on quality of life.
Safe Harbor and Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements include, but are not limited to, statements concerning Seaport Entertainment Group’s plans, goals, objectives, outlook, expectations, and intentions. Forward-looking statements are based on Seaport Entertainment Group’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including the risks and uncertainties discussed in filings with the Securities and Exchange Commission, including Seaport Entertainment Group’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date of this press release. Seaport Entertainment Group undertakes no obligation to update or revise any forward-looking statements for events or circumstances that arise after the date of this press release, except as may be required by applicable law.
Contacts
Seaport Entertainment Group
media@seaportentertainment.com
FAQ
What asset did Seaport Entertainment Group (SEG) sell at 250 Water Street?
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Who bought Seaport Entertainment Group’s 250 Water Street project and what is their relationship to SEG?
What are the development entitlements for Seaport Entertainment Group’s former 250 Water Street site?
When was the 250 Water Street property originally acquired before Seaport Entertainment Group’s sale?
Did Seaport Entertainment Group issue a press release about the 250 Water Street sale?
Filing Exhibits & Attachments
4 documentsPress Releases
