NEW YORK
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Forward-Looking Statements
Statements made in this presentation that are not historical facts, including statements accompanied by words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "likely," "may," "plan," "project," "realize," "should," "transform," "would," and other statements of similar expression and other words of similar expression, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934.
These statements are based on management's expectations, estimates, assumptions and projections as of the date of this presentation and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially are set forth as risk factors in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission. In this presentation, forward-looking statements include, but are not limited to, expectations about the performance of our Master Planned Communities segment and other current income- producing properties and future liquidity, development opportunities, development spending and management plans. We caution you not to place undue reliance on the forward-looking statements contained in this presentation and do not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this presentation except as required by law.
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Seaport Overview
New York's Original Neighborhood
- Located in Lower Manhattan's Financial District with sweeping views along the waterfront
- Close proximity to major subway lines, ferry routes and water taxis
- Spans several city blocks including the Historic District / Uplands, Pier 17 and the Tin Building
- Encompasses innovative culinary, entertainment, and cultural experiences spanning 472k SF
- Business segments include landlord operations, managed businesses, events and sponsorships
In the Heart of Downtown Manhattan
$196k
Avg. Household
Income
93%
College
Graduates
47%
Millennial Residents
The Seaport is one of the most exciting lifestyle, entertainment, and dining neighborhoods in NYC
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Source: HHH Company filings.
Seaport Conceptual Map | |
Pier 17 | |
Tin Building | East River |
Esplanade | |
Schermerhorn | |
Row | |
Fulton Market | |
Building | |
Museum Block | One Seaport |
Plaza | |
117 Beekman | |
Street | |
Titanic Park | |
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Pier 17 Overview
Premier Waterfront Entertainment Venue
- Mixed-useasset encompassing office, restaurants and a 60k SF rooftop
- Top-tieroffice space spans three floors with tenants such as ESPN and Nike's design studio
- Six boxes housing unique restaurants, including concepts by Jean-Georges and Andrew Carmellini
- Rooftop at Pier 17 is equipped to host year-round activations including a 3,500-person concert venue
- 360° views of the World Trade Center, Statue of Liberty and Empire State building
#1
NYC Outdoor Music Venue
4.0M
Foot Traffic
in 2022
204k
Concert Tickets Sold YTD 2023
HOWARD HUGHES Source: HHH Company filings. | 5 |
Note: As of September 30, 2023. |
Seaport: Events are Delivering Strong Results
The 2023 Summer Concert Series is the Most Successful Yet
Average Ticket Scans Per Concert | 3,008 | ||||||||||||
2,470 | 2,846 | 2,464 | 2,806 | ANNOUNCED SHOWS | GROSS TICKET SALES | SOLD OUT SHOWS | |||||||
60 | $12M | 47 | |||||||||||
2018 | 2019 | 2021 | 2022 | 2023 | Highest number of shows | $1M More Than Same Time in 2022 | 15 More Than Same Time in 2022 | ||||||
Profit per Concert | $94 | ||||||||||||
($ thousands) | TICKETS SOLD | IMPRESSIVE PACING | F&B SALES PER SHOW | ||||||||||
$73 | 194k | 93% | $86k | ||||||||||
$48 | $51 | ||||||||||||
$(1) | 9k More Than Same Time in 2022 | Sell-Through of Available Tickets | $7k More Than 2022's Avg | ||||||||||
(+21% vs. Industry Avg of 72%) | |||||||||||||
2018 | 2019 | 2021 | 2022 | 2023 | |||||||||
"Pier 17 has become the ultimate venue to see a concert." - TimeOutNY
HOWARD HUGHES Source: Company filings and data. | 6 |
Note: As of October 11, 2023, representing the full concert series for 2023. |
Pier 17 Culinary
JEAN-GEORGES
THE FULTON
Acclaimed Chef Jean-Georges Vongerichten joins the elite cadre of restaurants in the Pier 17 building at the revitalized Seaport. Described as a ship-to-table seafood experience, diners will bask in the glow of the iconic Brooklyn Bridge while enjoying locally sourced, sustainable seafood dishes cooked to perfection. It's waterfront dining at its finest.
ANDREW CARMELLINI
CARNE MARE and MR. DIPS
James Beard award-winning chef Andrew Carmellini has debuted two new restaurants, adding to the revitalization of the Seaport's Pier 17. Inspired by cucina alla brace, Carne Mare centers its bold flavors around the wood-burning grill. Mister Dips offers a variety of culinary selections including griddled burgers, waffle fries and playful, seasonal dairy dips.
HELENE HENDERSON
MALIBU FARM
Malibu Farm, which began with chef Helene Henderson's communal dinners at her two-acre hillside farm in Malibu, is opening its first New York location at Pier 17. The simple, stylish, organic menu served by Malibu Farm will continue with its fresh, local, and organic approach, offering breakfast, lunch, and dinner in a casual, but stunning waterfront location.
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Tin Building Overview
One-of-a-Kind Food & Beverage Destination
- Sprawling 54k SF food emporium with a wide mix of unique food and beverage experiences
- Six unique full-service restaurant offerings across a variety of cuisines
- Five fast-casual food counters, three retail markets, several bars, and mobile ordering and delivery
- Entire marketplace was curated in partnership with Jean-Georges
- The Tin Building opened in September 2022 and has sparked interest from both locals and tourists
21
Unique Food Experiences
600+
Total
Employees
54k
Square Feet
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Source: HHH Company filings.
Tin Building - A New Culinary Destination
From breakfast through dinner, the Tin Building is filled with extraordinary things to taste and do. Whatever you're craving, you'll find it here.
FAST-CASUAL DINING | BAR COUNTERS | BAKERY AND COFFEE SHOP |
FRESH MEATS AND PRODUCE | SPECIALTY RETAIL MARKETS | CANDY STORE |
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In Flight - 250 Water Street Development
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Disclaimer
Howard Hughes Holdings Inc. published this content on 02 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2023 08:51:35 UTC.