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New York

hrmjustin

(71,265 posts) Tue May 13, 2014, 07:05 PM May 2014

Stuyvesant Town likely to go up for sale after foreclosure

ERIN DURKIN

Stuyvesant Town, the largest apartment complex in Manhattan, is likely headed back up for sale after lenders moved to foreclose on loans at the property Tuesday.

CWCapital Asset Management — which has controlled the property since 2010 when its owners defaulted on their debt — now plans to formally take ownership of the 11,200-apartment complex next month.

Local leaders believe the move will pave the way for a sale of Stuy Town and neighboring Peter Cooper Village, which stretch from 14th St. to 23rd St. on the East Side.

Read more: http://www.nydailynews.com/blogs/dailypolitics/stuyvesant-town-sale-foreclosure-blog-entry-1.1790931#ixzz31djAzHlT

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