<SEC-DOCUMENT>0001415889-25-022151.txt : 20250818
<SEC-HEADER>0001415889-25-022151.hdr.sgml : 20250818
<ACCEPTANCE-DATETIME>20250818072647
ACCESSION NUMBER:		0001415889-25-022151
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250807
FILED AS OF DATE:		20250818
DATE AS OF CHANGE:		20250818

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Sachs Rebecca E.
		CENTRAL INDEX KEY:			0002081265
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42113
		FILM NUMBER:		251226274

	MAIL ADDRESS:	
		STREET 1:		199 WATER STREET, 28TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10038

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Seaport Entertainment Group Inc.
		CENTRAL INDEX KEY:			0002009684
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		THE SEAPORT, 199 WATER STREET
		STREET 2:		28TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10038
		BUSINESS PHONE:		(212) 732-8257

	MAIL ADDRESS:	
		STREET 1:		THE SEAPORT, 199 WATER STREET
		STREET 2:		28TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10038
</SEC-HEADER>
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<FILENAME>form3-08182025_110843.xml
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<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2025-08-07</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0002009684</issuerCik>
        <issuerName>Seaport Entertainment Group Inc.</issuerName>
        <issuerTradingSymbol>SEG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002081265</rptOwnerCik>
            <rptOwnerName>Sachs Rebecca E.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>199 WATER STREET</rptOwnerStreet1>
            <rptOwnerStreet2>28TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10038</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>Chief People Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>17213</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Includes 5,059 restricted stock units (&quot;RSUs&quot;) granted to the Reporting Person on August 7, 2024 pursuant to the Issuer's 2024 Equity Incentive Plan (the &quot;Plan&quot;). Each RSU represents a contingent right to receive one share of the Issuer's common stock. These 5,059 RSUs will vest in two substantially equal installments on August 1, 2026 and August 1, 2027, subject to the Reporting Person's continued service with the Issuer or its subsidiaries through the vesting dates.</footnote>
        <footnote id="F2">On July 31, 2024 (the &quot;Distribution Date&quot;), Howard Hughes Holdings Inc. (&quot;HHH&quot;) completed a pro rata spin-off distribution (the &quot;Distribution&quot;) of all of its shares of common stock of the Issuer to the holders of record of HHH common stock as of the close of business on July 29, 2024 (the &quot;Record Date&quot;). In connection with the Distribution, pursuant to the terms of the Employee Matters Agreement, dated as of July 31, 2024, by and between HHH and the Issuer (the &quot;EMA&quot;), all outstanding equity awards with respect to HHH common stock held by the Reporting Person were equitably adjusted and converted into equity awards with respect to the Issuer's common stock, with such equitable adjustments determined based on (i) the volume weighted average per-share price of HHH common stock for the three trading-day period ending on the Distribution Date and (ii) the volume weighted average per-share price of the Issuer's common stock for the thirty trading-day period following the Distribution Date.</footnote>
        <footnote id="F3">Includes 4,638 shares of restricted stock of the Issuer that were granted to the Reporting Person upon the conversion of restricted stock of HHH held by the Reporting Person as of July 31, 2024 in connection with the Distribution, in accordance with the terms of the EMA. The shares of restricted stock of the Issuer were granted pursuant to the Plan in a manner intended to preserve the aggregate intrinsic value of the awards, on generally the same terms and conditions (including vesting schedules) as applicable to the corresponding shares of restricted stock of HHH. The shares of restricted stock of the Issuer will vest in two substantially equal installments on March 1, 2026 and March 1, 2027, subject to the Reporting Person's continued service with the Issuer or its subsidiaries through the vesting dates.</footnote>
        <footnote id="F4">Includes 4,538 RSUs granted to the Reporting Person on March 7, 2025 pursuant to the Plan. Each RSU represents a contingent right to receive one share of the Issuer's common stock. These 4,538 RSUs will vest in three substantially equal annual installments beginning on March 7, 2026, subject to the Reporting Person's continued service with the Issuer or its subsidiaries through the vesting dates.</footnote>
    </footnotes>

    <remarks>See Exhibit 24.1 - Power of Attorney</remarks>

    <ownerSignature>
        <signatureName>/s/ Lucy Fato, Attorney-in-Fact</signatureName>
        <signatureDate>2025-08-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
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<TYPE>EX-24
<SEQUENCE>2
<FILENAME>ex24-08182025_110845.htm
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">POWER OF ATTORNEY</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">With respect to holdings of
and transactions in securities issued by Seaport Entertainment Group Inc. (the &ldquo;<B><I>Company</I></B>&rdquo;), the undersigned hereby
constitutes and appoints the individuals named on <U>Schedule&nbsp;A</U> attached hereto and as may be amended from time to time, or any
of them signing singly, with full power of substitution and resubstitution, to act as the undersigned&rsquo;s true and lawful attorney-in-fact
to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">execute for and on behalf of the undersigned, (a) Schedules 13D and 13G in accordance with Section 13
of the Securities Exchange Act of 1934, as amended (the &ldquo;<B><I>Exchange Act</I></B>&rdquo;), and the rules thereunder, (b) Forms
3, 4, and 5 in accordance with Section 16 of the Exchange Act and the rules thereunder and (c) a Form ID and/or Passphrase Update Request
Form (including amendments thereto), or any other forms prescribed by the United States Securities and Exchange Commission (the &ldquo;<B><I>SEC</I></B>&rdquo;),
and thereafter request, and have access to, filing codes for the SEC&rsquo;s Electronic Data Gathering, Analysis, and Retrieval system;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable
to complete and execute any such Schedule 13D or 13G or Form 3, 4, or 5 (including any amendment or amendments thereto) or Form ID and/or
Passphrase Update Request Form and timely file such schedule or form with the SEC and any stock exchange or similar authority; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">take any other action of any type whatsoever in connection with the foregoing which, in the opinion of
such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that
the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form
and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact&rsquo;s discretion.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned hereby grants
to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary,
or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned
might or could do if personally present, with full power of substitution and resubstitution or revocation, hereby ratifying and confirming
all that such attorney-in-fact, or such attorneys-in-fact substitute or substitutes, shall lawfully do or cause to be done by virtue of
this Power of Attorney and the rights and powers herein granted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned acknowledges
that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company
assuming, any of the undersigned&rsquo;s responsibilities to comply with Section 13 and Section 16 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Power of Attorney shall
remain in full force and effect until the undersigned is no longer required to file Schedule 13D and 13G, Forms 3, 4, and 5 and Form ID
and Passphrase Update Request Form (including amendments thereto) with respect to the undersigned&rsquo;s holdings of and transactions
in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the undersigned
has caused this Power of Attorney to be executed as of this 4<SUP>th</SUP> day of August, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 50%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ Rebecca E Sachs</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Rebecca E Sachs</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; color: #13110C">State of New York<BR>
County of New York</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; color: #13110C">Signed before me on August 4, 2025<BR>
by Rebecca Sachs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; color: #13110C">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 51%; text-align: left"><FONT STYLE="font-size: 10pt">/s/
    Lisette Gonzalez</FONT></TD>
    <TD STYLE="vertical-align: top; width: 49%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">Signature</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(<I>Notary Seal</I>)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">Title of office</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">June 8, 2029</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">Commission Expiration</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: none"><B>Schedule&nbsp;A</B></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Individuals Appointed as Attorney-in-Fact with
Full Power of Substitution and Resubstitution</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Matthew M. Partridge</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Lucy Fato</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Richard Kim</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Lenah Elaiwat</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Lilia Martinez</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

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