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

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...

...an (ultimately unsuccessful) bid by the tenants of Stuyvesant Town...

10/19/17
...a year ago. Its core-plus portfolio, which includes Stuyvesant Town...

09/28/17
...Brooksville principal Andrew MacArthur on the sale of Stuyvesant Town - Peter Cooper Village in 2015. After the Starrett City deal was reported in the...

09/26/17
...affordability within an increasingly unaffordable city. That the 2006 Stuyvesant Town...

09/20/17
...since Blackstone Group and Ivanhoe Cambridge bought the Stuyvesant Town...

09/20/17
...assuming a very conservative retail valuation of $500 million. Stuyvesant Town...

09/11/17
...Tishman Speyer and partner BlackRock paid $5.4 billion for Stuyvesant Town...

09/10/17
...for two (or more) bedroom home in June 2017: $2,825 Stuyvesant Town, Manhattan (David Shankbone) StreetEasy score: 8.6 Median rent for two (or more) bedroom home in...

09/07/17
...in Queens’ Willets Point neighborhood that would dwarf Stuyvesant Town and a run at the Roosevelt Hotel in Midtown. Much like Manafort, Zackson’s...

09/06/17
...Management executive who led the $5.3 billion sale of Stuyvesant Town...

08/31/17
...threat to the present occupancy of their buildings.” Stuyvesant Town...

08/31/17
...in Queens’ Willets Point neighborhood that would dwarf Stuyvesant Town and a run at the Roosevelt Hotel in Midtown. Much like Manafort, Zackson’s...

08/10/17
...Gregory Cross and Stuyvesant Town Practice makes perfect and, when it comes to the sale of a multimillion-dollar New...
  • 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
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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