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Episode 57 of 87

057. Good Read: "Other People's Money" $5.4 Billion Skuyvesant, 2008, Tishman & BlackRock

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In today's book club, we talked about the book "Other People's Money: Inside the Housing Crisis and the Demise of the Greatest Real Estate Deal Ever Made" by Charles Bagli.

Sitting on 80 acres in Manhattan, the Stuyvesant Town and Peter Cooper Village apartment complex was the largest deal ever made in New York City real estate history. Tishman Speyer and BlackRock purchased the project for $5.4 billion in 2006, planned to turn these rent restricted units into market rent unit. The plan didn't work out and the value of the property fell below $2 billion.

Co-hosts for this episode:
Jeremy Zenilman Esq.:
Art Tsai:

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