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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.: www.linkedin.com/in/jeremyzenilmanesq/
Art Tsai: www.linkedin.com/in/poantsai/

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Disclaimer: This commercial real estate podcast is intended for commercial real estate professionals, institutions, and investors only. The views expressed in this show are for informational, entertainment, and educational purposes only, and do not imply suitability. Views and opinions expressed are those of the presenters only and do not reflect the views of their employers, institutions, and associations. The information is not intended as investment advice, is not a recommendation about investing, and the presenters and their companies are not acting as your fiduciary.