Largest NYC Apartment Complex to Be Sold Again

The massive Stuyvesant Town apartment complex is prepped for sale, five years after its owners defaulted on the mortgage. CWCapital Asset Management, which is currently in charge of the property, is looking to sell. A sale of Stuyvesant Town, home to about 30,000 New Yorkers, would end the litigation and fighting that has involved residents, bondholders, and politicians since 2010, when Tishman Speyer and BlackRock Inc. gave up the property after its value plunged in the financial crisis and they were unable to raise rents.

Full Article Access:

Full access to complete articles from New York Apartment Law Insider is for subscribers only.

Not yet ready to subscribe?

Topics