Stuyvesant Town and Darcy Stacom, who sold the development
While pointed fingers have flung fast and furiously since the housing crash, the Observer posits one culprit has been overlooked: the broker. Darcy Stacom’s exuberant sales pitch for Stuyvesant Town and Peter Cooper Village could be used as memento mori for the housing market, some experts contend, noting that the CB Richard Ellis exec’s promises of a high-end, Utopian-esque future for the complex (complete with a private school, spa and gourmet groceries) was wildly out of whack with the complex’s earning potential. In that scenario, one anonymous expert said, Tishman Speyer’s only flaw was naïve trust in its broker. “They had never bought a residential building before,” the industry insider said. “They relied on her.”