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Tishman Speyer Is on the Warpath
Also, Lehman Brothers weighs its options, and 15 CPW breaks the $100 million barrier.
Posted 05/27/08 in Daily Intel : Company Town
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Stuy Town Sold for $5.4 Billion
So much for the tenants' group: Tishman Speyer, the real-estate behemoth that controls Rockefeller Center, among other things, has won the auction for Stuyvesant Town and Peter Cooper Village, agreeing to pay MetLife $5.4 billion for the complex. That works out to $486,769 for each of the complex's 11,232 apartments. Which would take only 243 months — a mere twenty years and change to recoup if each unit rented for the maximum allowable stabilized amount of $2,000 per month. Naturally Tishman will wait that out, right? 110-Building Site in N.Y. Is Sold to Speyer [NYT]
Posted 10/17/06 in Daily Intel : It Just Happened
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