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

09/17/18
...on the sector. The firm — which already owns Stuyvesant Town...

09/11/18
...The fund also owns Kips Bay Court and Stuyvesant Town in Manhattan. Parker Towers is located in Forest Hills and consists of three residential...

...end-to-end leasing service and that other clients include Stuyvesant Town and Sam Zell’s Equity Residential. He also said that landing Stonehenge as a...

08/03/18
...overcharge,” according to its website). In 2009, tenants at Stuyvesant Town...

07/18/18
...nbsp; The year 2000 was big one for Stuyvesant Town. MetLife, the original developers of the massive apartment complex, became a publicly traded company...

06/18/18
...and owns CWCapital, the special servicer that sold Stuyvesant Town...

...and owns CWCapital, the special servicer that sold Stuyvesant Town...

04/26/18
...than $40 billion in assets globally. Fortress notably sold Stuyvesant Town...

03/05/18
...deals of late, including the $5.3 billion trade of Stuyvesant Town...

...deals of late, including the $5.3 billion trade of Stuyvesant Town...

02/22/18
...Blackstone Group and Ivanhoe Cambridge's $5.3 billion purchase of Stuyvesant Town...

02/21/18
...goes into managing security deposits,” he said. Tellingly Stuyvesant Town, the Blackstone Group-owned apartment complex in the East Village, is one of the New...

01/25/18
...Blackstone and Ivanhoe Cambridge’s $5.3 billion purchase of Stuyvesant Town...

01/12/18
...faster than Yorkville, were the Financial District and Stuyvesant Town.   Home prices also increased in Yorkville, with median asking prices climbing 2 percent in...

01/05/18
...Stuyvesant Town, Jonathan Gray and Mayor Bill de Blasio A new study claims the $5.3 billion deal...

01/03/18
...owns about 13,000 rental apartments in the city, including Stuyvesant Town...

12/25/17
...August 1947, as the first tenants were moving into Stuyvesant Town...


12/05/17
...investment vehicle that also owns a stake in Stuyvesant Town...

11/30/17
The hits in New York’s Airbnb crackdown keep on coming. The city had sued a pair of property owners for running an illegal hotel that...

11/30/17
...city’s biggest trophy deals, including the $5.3 billion Stuyvesant Town...

11/13/17
...SpotAngels cited by the New York Post. Meanwhile, Stuyvesant Town...

11/08/17
...an (ultimately unsuccessful) bid by the tenants of Stuyvesant Town...

11/08/17
...which teamed up two years ago to buy Stuyvesant Town and Peter Cooper Village for $5.3 billion, will spend more than $10 million to bring almost...

...city’s biggest trophy deals, including the $5.3 billion 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
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
  • Publication Date 12/01/2011
  • Event Date 10/22/2011
  • Party 1 CWCapital Asset Management
  • Party 1 Brokerage Rose Associates
  • Party 1 Broker Bruce Spiegel, William Bergman
  • Party 2 H. Brickman & Sons
  • Party 2 Brokerage Newmark Grubb Knight Frank
  • Party 2 Broker Aaron Gurevich
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...