Stuyvesant Town | The Real Deal New York

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Stuyvesant Town

252 First Avenue
New York, NY 10009
Website
Retail, Residential, Leasing/Rental

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 8,759
  • commercial units 46
  • total units 8,759
  • square feet 8,942,176
  • block and lot 1-00972-0001
  • BIN 1082875
  • documents click here


07/18/17
...city real estate loan since the sale of Stuyvesant Town. Here’s the full top 10: 1) Refi-er’s Ball - $2.3 billion Boston Properties, the majority...

07/05/17
...Stuyvesant Town and Mayor Bill de Blasio (Credit: Getty Images) In 2014, Mayor Bill de Blasio pledged...

06/30/17
...Stuyvesant Town and Blackstone's Jonathan Gray The Stuyvesant Town and Peter Cooper Village Tenants Association is railing against a plan to convert 115 units...

06/22/17
...received. Since a landmark court decision at the Stuyvesant Town...

05/25/17
...in the East Village across the street from Stuyvesant Town...

05/24/17
...list, with a $72 million tax bill in 2016, and Stuyvesant Town came in second, paying $60 million in taxes. Read the full report here. Manhattan Retail...

05/24/17
...also a professional photojournalist. Following a 2009 decision at Stuyvesant Town maintaining that J-51 apartments must remain rent stabilized for the duration of tax benefits...

05/05/17
...America's largest private landlord, and its assets include Stuyvesant Town the Caiola portfolio and 1740 Broadway in New York, as well as 9655 Wilshire in L...

05/03/17
...a $2.7 billion acquisition loan from Wells Fargo for Stuyvesant Town...

04/26/17
...Fargo to finance their $5.3 billion acquisition of the Stuyvesant Town...

04/19/17
...year, Merck oversaw MetLife’s historic sale of Stuyvesant Town...

04/18/17
...a landmark 2009 case regarding unlawful apartment deregulation at Stuyvesant Town...

04/04/17
...estate, owns large stakes in 3 Bryant Park and Stuyvesant Town...

03/31/17
...Stuyvesant Town and Blackstone's Jonathan Gray UPDATED Apr. 4, 2017, 10:40 a.m.: Blackstone Group and Ivanhoe Cambridge secured...

03/17/17
...weak soil. They pointed to taller buildings in Stuyvesant Town as a precedent for their project. That argument, however, "shows how little these developers...

03/15/17
...Sam Zell's Equity Office portfolio to the 11,000-plus-unit Stuyvesant Town. But even then, the ones that got away still sting. “If I think one...

02/23/17
...Blackstone Group and Ivanhoe Cambridge’s acquisition of Stuyvesant Town...

02/15/17
...Pete Briger, Wes Edens and Stuyvesant Town...

02/14/17
...institutional investors. Leibowitz worked on the 2006 sale of Stuyvesant Town...

02/03/17
...to 3 percent when excluding the $5.3 billion purchase of Stuyvesant Town...

01/26/17
...Group and Ivanhoe Cambridge’s $5.3 billion purchase of Stuyvesant Town...

01/26/17
...large multifamily complexes. After dishing out $5.3 billion for Stuyvesant Town...

01/19/17
...Blackstone Group and Ivanhoe Cambridge’s acquisition of Stuyvesant Town...

01/18/17
...York City's biggest-ever investment-sales deal, the 2006 acquisition of Stuyvesant Town...
  • 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
  • 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

...the firm broker the sale of the 11,200-unit Stuyvesant Town and Peter Cooper Village to Blackstone Group and Ivanhoe Cambridge in December, it also...

12/11/15
...another huge property closing, the $5.3 billion acquisition of Stuyvesant Town and Peter Cooper Village by Blackstone. Through October, buyers have paid more than $37 billion...

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

...the $5.4 billion sale of the Manhattan housing complex Stuyvesant Town and Peter Cooper Village in 2006. But the investment sales team at the firm began...

...of Manhattan office space. Tishman Speyer's purchase of Stuyvesant Town and Peter Cooper Village for $5.4 billion earned it the second spot on the list...

...August, CB Richard Ellis announced it would market Stuyvesant Town and Peter Cooper Village for owner Metropolitan Life Insurance. The sale could set a...
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