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.
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- 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
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- Event Retail Leasing
- Address 286 A First Avenue
- Neighborhood Stuyvesant Town
- Borough Manhattan
- Square feet 1,736
- Publication Date 06/18/2018
- Event Date 06/12/2018
- Party 1 Blackstone Group
- Party 2 Starbucks
- Party 2 Brokerage SCG Retail
- Party 2 Broker David Firestein
- Event Retail Leasing
- Address 286 First Avenue
- Neighborhood Stuyvesant Town
- Borough Manhattan
- Square feet 1,736
- Publication Date 04/09/2018
- Event Date 04/06/2018
- Party 1 Blackstone Group
- Party 1 Brokerage JLL
- Party 1 Broker Patrick Smith
- Party 2 Starbucks
- Party 2 Brokerage SCG Retail
- Party 2 Broker David Firestein
- 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
- Event Sales
- Address Stuyvesant Town-Peter Cooper Village
- Neighborhood Stuyvesant Town
- Borough Manhattan
- Price $ 5,300,000,000
- Publication Date 02/01/2016
- Event Date 12/23/2015
- Party 1 CWCapital Asset Management
- Party 1 Brokerage Eastdil Secured
- Party 1 Broker Doug Harmon
- Party 2 Blackstone Group, Ivanhoe Cambridge
- 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
- 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
- Event Retail Leasing
- Address 298 First Avenue
- Neighborhood Stuyvesant Town
- Borough Manhattan
- Square feet 10,873
- Publication Date 02/01/2007
- Event Date 12/23/2006
- Party 1 Brokerage Staubach Company
- Party 1 Broker Patrick Smith
- Party 2 Walgreens
- Party 2 Brokerage Rose Associates
- Party 2 Broker Bruce Spiegel
- 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
- Event Sales
- Address Stuyvesant Town-Peter Cooper Village
- Neighborhood Stuyvesant Town
- Borough Manhattan
- Price $ 5,400,000,000
- Price per foot $ 480,000.00
- Publication Date 12/01/2006
- Event Date 10/22/2006
- Party 1 MetLife
- Party 1 Brokerage CBRE
- Party 1 Broker Darcy Stacom, William Shanahan
- Party 2 Tishman Speyer
- 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
- 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