not even nyc is immune mark ostrovsky: NOT EVEN N.Y.C. IS IMMUNE! - 01/25/10 08:52 AM
In 2006 it was touted as the largest single residential real estate deal in U.S. history. That's when Tishman Spyer paid a whopping $5.4-Billion for N.Y.C's Peter Stuyvesant Town and Peter Cooper Village ... which consisted of a total of 11-Thousand apartments.
Tishman Spyer essentially paid $500K per/unit ... a price that seemed to make sense at the height of the real estate bubble.

And today Tishman Spyer handed over the keys to the lender. Turns out, from what I know, that all or many of these units were rent-controlled. Maybe it's not so easy to "de-control" rent-controlled apartments?
Anyway, here's … (0 comments)

 
Mark L. Ostrovsky, Howard Hanna Real Estate Services (Howard Hanna Real Estate Services)

Mark L. Ostrovsky

Howard Hanna Real Estate Services

Beachwood, OH

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Howard Hanna Real Estate Services

Address: 3550 Lander Center, Pepper Pike, OH, 44124

Office: (216) 577-1156

Mobile: (216) 577-1156



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