Successful Sale of 250 Water Street
The company announced the sale of the 250 Water Street development project for $152 million, which is expected to improve historical cash burn by more than $7 million.
Record Performance at Pier 17 Rooftop
The Rooftop at Pier 17 improved five spots in Polestar's rankings, hosting 35 concerts with an 86% sell-through rate, contributing to the highest single grossing revenue day in SCG's history.
Strategic Hospitality Growth
New hospitality concepts Flanker Kitchen and Sports Bar and Hidden Boots Saloon were announced, expected to drive future growth.
Improved Financial Performance
Excluding nonrecurring items, consolidated segment adjusted EBITDA improved by 76% year-over-year, driven by cost-cutting measures and event-driven revenues.
Positive Community Engagement
The Seaport hosted high-profile events like Macy's Fourth of July fireworks and the New York City Wine and Food Festival, significantly boosting visitation.