Wednesday, August 30, 2006

Developers Slobbering Over Biggest NYC Deal Ever

Metropolitan Life is putting Stuyvesant Town and Peter Cooper Village on the block for $5 billion bucks. This is a huge apartment complex development on Manhattan's East Side that has long been a haven for working families in the city. But it's not like there wasn't fair warning, the apartments have been going to market rent as quickly as possible in recent years.

Now even at the $5 billion price tag, the buyers are circling to grab this prize. Check it out in the New York Times.

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