Subsequent to quarter end, HHC repurchased an additional 368,806 shares of common stock for $25.4 million at an average price of $68.98 per share. Repurchased 2,164,400 shares of common stock funded with $192.3 million of cash on hand at an average price of $88.83 per share.HHC also received a $10 million non-refundable deposit to secure a second option to reacquire up to an additional 40.76% stake in Douglas Ranch, which expires on August 18, 2022. JDM Partners exercised its first option on Douglas Ranch, repurchasing a 9.24% ownership interest for $50 million.This transaction marked the disposition of the Company's last remaining non-core asset located outside of its core regions. Sold The Outlet Collection at Riverwalk ®-an approximately 264,000-square-foot retail outlet center in New Orleans-for $34 million, generating net proceeds of $8.2 million.The quarter's results benefited from several concerts and private events on The Rooftop at Pier 17 ®, driving up foot traffic and increasing revenues at our managed restaurants.
The Seaport in New York City had one of its best quarters in its history, generating $27.1 million of revenue.Pre-sales at our two towers under construction were strong with Kō'ula now 96.3% pre-sold and Victoria Place fully sold out. Closed on 20 condo units in the quarter, 19 of which closed at 'A'ali'i ®-the latest completed tower at Ward Village ®-generating $17.4 million in condo sales revenue.Subsequent to quarter end, HHC reached an agreement with Discovery Land to expand our joint venture at The Summit to capture the heightened demand of those seeking an ultra-luxury residence in Summerlin ®.Excluding equity earnings from The Summit, MPC EBT was up $23.3 million or 45.6%. Master Planned Community (MPC) earnings before taxes (EBT) totaled $71.3 million in the quarter-a 2.1% increase over the prior-year quarter-with land price appreciation and higher builder price participation revenue, signifying that housing demand remains outsized relative to supply in Las Vegas and Houston.The strong performance of our Operating Asset portfolio was attributable to the strong rent growth and leasing momentum of our latest multi-family assets, with quarterly NOI from this property type rising 59.8% year-over-year, as well as continued improvements in office assets and strong attendance at the Las Vegas Ballpark ®. Total Operating Assets net operating income (NOI) totaled $66.3 million in the quarter, a 14.6% increase over the prior-year period.Second quarter net income of $21.6 million, or $0.42 per diluted share, compared to net income of $4.8 million, or $0.09 per diluted share, in the prior-year period.The Howard Hughes Corporation® Reports Second Quarter 2022 Results The financial statements, exhibits and reconciliations of non-GAAP measures in the attached Appendix and the Supplemental Information, as available through the Investors section of our website, provide further detail of these results. 3, 2022 /PRNewswire/ - The Howard Hughes Corporation ® (NYSE: HHC) (the "Company," "HHC" or "we") today announced operating results for the second quarter ended June 30, 2022. HHC reports strong financial results despite macroeconomic headwinds, driven by robust land sales, increased Operating Asset NOI, and continued momentum in condo sales
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