Oceanwide Holdings expands U.S. presence with purchase of large New York development site

March 16, 2016

Chief Communications Officer
Allison McClain

New York, NY. Oceanwide Center NY LLC, a subsidiary of Oceanwide Holdings Co., Ltd., closed a $390 million deal to purchase a development site near New York City’s South Street Seaport from the Howard Hughes Corporation.

Nixon Peabody represented Oceanwide in the deal. Nixon Peabody real estate practice group leader Denise Pursley, partner Colette Dafoe and associate Jackie Ryu led the legal team along with David Cheng, chair and managing partner of NP’s China & Asia Pacific practice. The team also included partner Scott Turner, leader of Nixon Peabody’s energy and environmental practice and associate Rob Brenner.

Nixon Peabody has advised Oceanwide on a number of transactions as the China-based company has expanded its presence in the U.S. Oceanwide is currently developing property in a number of cities in California as well as in Hawaii.

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