Big NYC housing complex attracts interest
The Peter Cooper Village and Stuyvesant Town apartment complex. (Oct. 17, 2006) Credit: AP
A massive middle-class housing complex in Manhattan is attracting interest from some key players.
A group that includes Pershing Square Capital Management and Winthrop Realty Trust hopes to gain ownership of Peter Cooper Village and Stuyvesant Town at an Aug. 25 foreclosure auction.
Investor William Ackman says the group hopes to convert rental apartments into affordable co-ops.
Other creditors and potential buyers also are wrangling for control of the property.
A group led by Tishman Speyer Properties and BlackRock Inc. said early his year that it was giving up the complex to creditors.
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