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YEREVAN, OCTOBER 21, ARMENPRESS. Blackstone Group LP is leading a deal to buyNew York’s Stuyvesant Town-Peter Cooper Village, a transaction that would put Manhattan’s biggest apartment complex in the hands of the world’s largest private equity firm and maintain some affordable housing at the property. As “Armenpress” reports about the aforementioned, citing Bloomberg agency.
Blackstone and Canada’s Ivanhoe Cambridge Incorporation will acquire the 80-acre (32-hectare) enclave for about $5.3 billion, the companies and city officials said Tuesday. That’s just under the record $5.4 billion that prior owners Tishman Speyer and BlackRock Incorporation paid almost nine years ago before walking away from the mortgage in 2010, marking one of the biggest collapses following the last decade’s real estate boom.
The transaction was formally announced at a press conference Tuesday featuring New York City Mayor Bill de Blasio, Blackstone real estate chief Jon Gray and City Councilman Daniel Garodnick, a lifelong resident of Stuyvesant Town-Peter Cooper Village.