May 14th 2010 2:00PM
The middle-class tenants of Stuyvesant Town and Peter Cooper Village in New York City are trying once again to take ownership of their apartment complex. And they are asking for help from an institutional investor that once bet against them. The iconic, 110-building complex, which includes the two adjoining developments,... Continue Reading »
Jan 27th 2010 1:30PM
On Monday, lenders foreclosed on one of the biggest apartment complexes in the country, seizing the 11,000 apartments at Stuyvesant Town and Peter Cooper Village from real estate giants Tishman Speyer and BlackRock, Inc., who failed to make their monthly mortgage payments. Where does that leave the people who live there?... Continue Reading »
Dec 28th 2009 12:00PM
This week The New York Times chronicled the hubris of Dawnay Day, a high-flying UK real estate investment firm that swooped into the U.S. with big plans to turn shabby apartment buildings into upscale pads with rents to match. (The piece is a swan song for Times real estate reporter Christine Haughney, who was just laid... Continue Reading »
Dec 7th 2009 11:50AM
Another "biggest deal in history" is falling apart.Back in 2007, when Tishman Speyer paid $1.7 billion for six office towers in Chicago's Loop, the local press proclaimed it the "biggest real estate deal in Chicago history." Now, a part of the $1.4 million package of loans on the properties is in default - and Tishman... Continue Reading »
