Howard Hughes Corp. purchased the underutilized parking lot at 250 Water St. in Brooklyn, N.Y., for $180 million, the New York Post reported June 11.
The site, sold by Milstein Properties, can accommodate a new as-of-right building covering 289,000 square feet and not taller than 120 feet, according to the publication.
Howard Hughes will announce its plans for the site "at a later date," the publication quoted the Dallas-based real estate developer as saying.
