Stuyvesant Town And Peter Cooper Village Could Sell For Billions
By: NY1 News
NY1: Stuyvesant Town And Peter Cooper Village Could Sell For Billions
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More than a dozen groups are expected to have their checkbooks out today, bidding for Stuyvesant Town and Peter Cooper Village in what could prove to be the biggest real estate deal in U.S. history.
Owner MetLife recently announced it would accept bids for the massive complex today. The property is expected to fetch between $4.3 and $5 billion.
One interested group is aligned with the tenants, many of whom are concerned they could be forced out of their homes if the sale goes through. Nearly 75 percent of the residents still have regulated rents.
The complex is made up of 110 buildings, with more than 11,000 apartments housing 25,000 residents.