Fortress Investment Group LLC is preparing a bid to buy Stuyvesant Town-Peter Cooper Village, the Manhattan apartment complex whose future has been in limbo since its owners defaulted on a $3 billion mortgage four years ago, according to a person familiar with the plans.
Senior lenders to Stuyvesant Town- Peter Cooper Village, Manhattan’s biggest apartment complex, are in talks to buy the junior debt held by a group of investors led by Bill Ackman , people with knowledge of the negotiations said.
CWCapital Asset Management LLC, which represents senior debt holders of Stuyvesant Town-Peter Cooper Village, may be poised to take the title to Manhattan’s biggest apartment complex at a foreclosure sale next week.
Pershing Square Capital Management LP and Winthrop Realty Trust’s $45 million investment in Manhattan’s Stuyvesant Town-Peter Cooper Village is in jeopardy after the companies failed to stop a planned foreclosure sale.
Senior debt holders of Stuyvesant Town-Peter Cooper Village, Manhattan’s biggest rental complex, plan to proceed with an Oct. 4 foreclosure sale after a judge blocked a rival group’s move to take control of the apartments.
A joint venture led by Bill Ackman was able to do what the state of California, the Church of England and Tishman Speyer Properties LP were not: get back its investment in Manhattan’s Stuyvesant Town-Peter Cooper Village.
SL Green Realty Corp. , Manhattan’s largest office landlord, agreed to buy Gramercy Capital Corp. real estate investments for $390.8 million, including the right to a 100 percent leasehold on New York’s Lipstick Building.