To the Point
How the Biggest Real Estate Sale in History Went from Boom to Bust
When New York's massive middle-class apartment complex Stuyvesant Town-Peter Cooper Village was sold in 2006, it was the biggest real estate deal in history: $5.4 billion — most of which came from outside investors. But from Day One, the purchase had problems.
By Warren Olney • • 1 min readWhen New York's massive middle-class apartment complex Stuyvesant Town-Peter Cooper Village was sold in 2006, it was the biggest real estate deal in history: $5.4 billion — most of which came from outside investors. But from Day One, the purchase had problems. In April we talked to the author
Charles Bagli, who chronicles the sale and its aftermath in
Other People's Money: Inside the Housing Crisis and the Demise of the Greatest Real Estate Deal Ever Made
.
