Stuy Town Deal Closes at Record Price


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NEW YORK CITY—Blackstone—through funds it manages on behalf of its real estate investors—and Ivanhoé Cambridge have closed on their previously announced acquisition of Peter Cooper Village Stuyvesant Town. Despite previous reports, has confirmed that the sale was done at the record-setting price of $5.45 billion.

Eastdil Secured‘s Doug Harmon acted as the exclusive advisor in the transaction.

As part of the transaction, a long-term affordability program has been established to protect 5,000 below-market units, ensuring they remain affordable to moderate and middle-income families for at least the next 20 years. The agreement also offers new protections for roughly 1,400 “Roberts” units…

Stuy Town Deal Closes at Record Price

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