Who Will Control Stuyvesant Town?
February 1, 2010 by Neil · 1 Comment
Tishman Speyer has ruled out the nuclear option of bankruptcy to forestall the struggle for control of Stuyvesant Town / Peter Cooper Village. Now a real estate food fight will ensue over control of the 110-building complex, each one containing about 100 units. (WSJ incorrectly states that it is a 56-building complex.)
WSJ states that the [...]
How May Stuyvesant Town Cause Tishman Speyer To Lose Millions More?
January 23, 2010 by Neil · 1 Comment
Gramercy Capital Corp, the most junior lender in the 2006 purchase of Stuyvesant Town/Peter Cooper Village, has asked CWCapital, the special servicer for senior lenders of $3 billion in commercial mortgages behind the deal, that co-owner Tishman Speyer be replaced as manager of the huge Manhattan apartment complexes.
A majority of other mezzanine lenders — which [...]
