Creditors Take Over $5.4B NYC Housing Complexes
by Jim Zarroli, NPRJanuary 25, 2010
New York investment firm Tishman Speyer defaulted on a $5.4 billion loan for 56 apartment buildings that make up Stuyvesant Town in Manhattan, N.Y., and agreed to turn the properties over to the lenders. When the deal was announced four years ago, it was the nation's biggest residential real estate deal.
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