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Stuyvesant Town and Peter Cooper Village

252 First Avenue
New York, NY 10009
Website
Retail, Residential, Leasing/Rental
Stuyvesant Town and Peter Cooper Village
Stuyvesant Town and Peter Cooper Village, nicknamed Stuy Town, is a residential development of red brick apartment buildings on the East Side of Manhattan, built in the 1940s as government-subsidized housing. The towers-in-the-park style sister developments are bounded by First Avenue, Avenue C and 14th and 23rd Streets. Together, they contain 110 buildings. In 2006, real estate development firm Tishman Speyer and investment firm BlackRock purchased the site in its entirety for $5.4 billion from MetLife, an insurance company, in the hope of converting it into a market-rate rental complex. The deal, one of the largest real estate transactions in United States history and fueled by borrowing, went sour as conversion of units to market rate was slower than the buyers had expected. Rent-regulated tenants successfully sued to slow down the process and reverse it in some cases. In 2010, Tishman Speyer and BlackRock turned the property over to their creditors to avoid bankruptcy. CWCapital, which represented the creditors that foreclosed on the property after the default, controlled the property until October 2015, when Blackstone Group and partners went into contract to buy Stuy Town for $5.3 billion. The deal closed in December 2015. Download Blackstone's Agreement with the City of New York
  • Address 252 First Avenue
  • neighborhood Stuyvesant Town
  • borough Manhattan
  • owner Blackstone Group, Ivanhoe Cambridge
  • owner entity BPP ST OWNER LLC
  • floors 13
  • Year Built 1945
  • residential units 11,241
  • total units 11,241
  • square feet 8,942,176
  • block and lot 1-00972-0001
  • BIN 1082875
  • documents click here

lease-property-picture-1.php
07/25/16
UPDATED: July 26 10.35 a.m.: Gary Barnett’s Extell Development landed a $140 million construction loan for the development of two, seven-story mixed-use buildings at 500 and 524...

j51-piedra
07/06/16
In February of 2015, Lilian Piedra received a letter with devastating news: Her landlord was jacking up the rent for her four-bedroom apartment in Manhattan’s...

Barry Sternlicht Sam Zell thumb
01/27/16
Sam Zell’s Equity Residential closed its sale of a massive, 23,000-unit residential portfolio to Barry Sternlicht’s Starwood Capital Group for nearly $5.4 billion, the Chicago-based...

Stuy-Town-oriceFbox
01/07/16
In October, when news broke of the sale of Stuyvesant Town-Peter Cooper Village to the Blackstone Group and Ivanhoe Cambridge, most news outlets reported a...

ranking small
12/22/15
UPDATED, 2:12 p.m., Dec. 23: New York’s investment sales market continued to soar in 2015, bolstered by an enthusiastic lending environment. While many of the...

manhattan-retail-nabes
12/11/15
From the December issue: Manhattan investment sales began 2015 with several monster transactions, led by Ivanhoe Cambridge’s January purchase of 1095 Sixth Avenue for $2.2...

WellsFargoStuyTownFbox
12/10/15
In 1852, four years after gold flakes were first discovered at Sutter’s Mill, Henry Wells and William Fargo founded a company that would play a...

MANHATTAN OFFICE VACANCY
12/07/15
UPDATED, Dec. 7, 4:00 p.m.: Mortgage giant Fannie Mae is backing the Blackstone Group and Ivanhoe Cambridge’s acquisition of Stuyvesant Town-Peter Cooper Village with a...

Stuytown 2006 memo
11/09/15
...had lofty ambitions for America's most famous housing complex -- Stuyvesant Town and Peter Cooper Village. In the months leading up to the $5.4 billion purchase in...

Gray de Blasio
11/05/15
When the city announced an agreement with the Blackstone Group to preserve 5,000 affordable housing units at Stuyvesant Town-Peter Cooper Village last month, it disclosed...

Stuy-Town-Pricing-Flex-Front
11/05/15
...The revenue for Stuyvesant Town and Peter Cooper Village has risen steadily over the past few years, and one...

Stuy_Town
11/03/15
Stuyvesant Town special servicer CWCapital Asset Management stands to make more than half a billion from the property’s sale to the Blackstone Group and Ivanhoe...

HowStuyTownFbox
10/29/15
TRD Special Report:In August 1947, as the first tenants were moving into Stuyvesant Town-Peter Cooper Village, workers installed a small metal plaque on the west...

Stuyvesant Town Stumpf
10/28/15
Megabank Wells Fargo is taking the lead on $2.5 billion in debt financing for the Blackstone Group and Ivanhoe Cambridge’s acquisition of Stuyvesant Town. Tags: blackstone...

Stuyvesant Town and Peter Cooper Village
10/24/15
...Stuy Town As Tishman Speyer’s $5.4 billion acquisition of Stuyvesant Town and Peter Cooper Village transitions from the biggest deal in American real estate to...

StuyTown Gray small
10/23/15
...and Ivanhoe Cambridge won the city’s backing to sell Stuyvesant Town and Peter Cooper Village’s unused air rights, which could rake in as much...

SL Green Realty
10/22/15
SL Green Realty CEO Marc Holliday used his company’s third quarter earnings call Thursday to herald nine different asset sale transactions in the period that...

Stuyvesant Town (inset: Larry Fink)
10/21/15
BlackRock’s Larry Fink has no regrets about about one of his firm’s most public failures, the purchase of Stuyvesant Town in 2006, along with partner...

JonGrayStuyTownFbox
10/20/15
“We want to own this property for a very long time,” Jonathan Gray said at a press conference Tuesday at Stuyvesant Town-Peter Cooper Village, the massive housing complex which...

Stuyvesant_Town_and_Peter_Cooper_Village_crop
10/19/15
...is partnering with Canadian investment firm Ivanhoe Cambridge to buy Stuyvesant Town and Peter Cooper Village for $5.3 billion, The Real Deal has learned. (more&hellip...

Rob Speyer and Jerry Speyer
09/28/15
UPDATED, 1:27 p.m., Sept. 28: Tishman Speyer’s Rob Speyer has been appointed sole CEO of the company, after sharing the title for seven years with...

Stuyvesant Town and Peter Cooper Village
09/22/15
The rent is really damn high, and getting higher. A new study from Harvard University and Enterprise Community Partners, an affordable housing advocate, found almost 30 percent...

Rent Stabilized Apartments 2007-2014 ft
07/16/15
New York City lost more than 50,000 rent-stabilized apartments in the last eight years, with most of the deregulation occurring on the Upper East Side,...

Stuy-Town
09/29/14
UPDATED, 5:49 p.m., October 1: Savvy real estate investors made a killing on distressed properties in the wake of the financial crisis. But as the...

Clark-3333-FB
08/11/14
The large real estate investment company Brookfield Property Partners signed a contact last month to acquire a 3,962-unit portfolio of apartment buildings in Upper Manhattan,...
To see all, go to Advanced Search
  • Event Retail Leasing
  • Address 264 First Avenue
  • Neighborhood Gramercy
  • Borough Manhattan
  • Square feet 1,193
  • Publication Date 06/01/2016
  • Event Date 05/18/2016
  • Party 1 BPP St Owner
  • Party 1 Brokerage Rose Associates
  • Party 2 Paris Baguette
  • Party 2 Brokerage PD Properties
  • Party 2 Broker Tony Park, Stacy Gim
notes
The French café signed a lease.
  • Event Retail Leasing
  • Address 334 First Avenue
  • Neighborhood Stuyvesant Town
  • Borough Manhattan
  • Square feet 1,213
  • Publication Date 06/01/2013
  • Event Date 04/22/2013
  • Party 1 ST Owner LP
  • Party 1 Brokerage Rose Associates
  • Party 1 Broker Bruce Spiegel, William Bergman
  • Party 2 Second Time Around
  • Party 2 Brokerage Handler Real Estate Organization
  • Party 2 Broker Scott Galin, Darell Handler
notes
The consignment fashion retailer signed a long-term lease for a location at the Stuyvesant Town residential complex.
  • Event Retail Leasing
  • Address 312 First Avenue
  • Neighborhood Stuyvesant Town
  • Borough Manhattan
  • Square feet 8,100
notes
The family-owned business signed a 15-year lease for another Ace Hardware location, its third in New York, at Peter Cooper Village/Stuyvesant Town. The deal includes 4,000 square feet on the ground floor and 4,100 square feet of selling space in the basement.
  • Event Retail Leasing
  • Address 298 First Avenue
  • Neighborhood Stuyvesant Town
  • Borough Manhattan
  • Square feet 10,873
notes
The drugstore chain inked a 15-year lease.
  • Event Retail Leasing
  • Address 292-298 First Avenue
  • Neighborhood Gramercy
  • Borough Manhattan
  • Square feet 10,873
  • Publication Date 02/01/2007
  • Event Date 12/18/2006
  • Party 1 Broker Patrick Smith
  • Party 2 Walgreens
  • Party 2 Broker Bruce Spiegel
notes
The drugstore chain inked a 15-year lease.
  • Event Retail Leasing
  • Address 324 First Avenue
  • Neighborhood Stuyvesant Town
  • Borough Manhattan
  • Square feet 1,796
  • Publication Date 03/01/2005
  • Event Date 01/20/2005
  • Party 1 MetLife
  • Party 1 Brokerage Rose Associates
  • Party 1 Broker Bruce Spiegel
  • Party 2 GameStop
  • Party 2 Brokerage Inline Realty
notes
Opening eighth Manhattan store
  • Event Retail Leasing
  • Address 268 First Avenue
  • Neighborhood Stuyvesant Town
  • Borough Manhattan
  • Publication Date 03/01/2005
  • Event Date 01/20/2005
  • Party 1 MetLife
  • Party 1 Brokerage Rose Associates
  • Party 1 Broker Bruce Spiegel
  • Party 2 Chameleon Nail Spa
  • Party 2 Brokerage Jansizian Group
notes
[EMPTY]
  • Event Retail Leasing
  • Address 312 First Avenue
  • Neighborhood Stuyvesant Town
  • Borough Manhattan
  • Square feet 600
  • Publication Date 03/01/2005
  • Event Date 01/20/2005
  • Party 1 MetLife
  • Party 1 Brokerage Rose Associates
  • Party 1 Broker Bruce Spiegel
  • Party 2 Tasti D-Lite
  • Party 2 Brokerage Murray Hill Properties
notes
[EMPTY]

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manhattan-retail-nabes
12/11/15
From the December issue: Manhattan investment sales began 2015 with several monster transactions, led by Ivanhoe Cambridge’s January purchase of 1095 Sixth Avenue for $2.2...

Stuy-Town-Pricing-Flex-Front
11/05/15
The revenue for Stuyvesant Town and Peter Cooper Village has risen steadily over the past few years, and one path to growth has been the...

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