CWCapital

August 11, 2014

Real Estate Wire: Puff Daddy Price Chops His Park Imperial Haven; More New Yorkers Installing Solar Panels

Puff Daddy, P. Diddy, Sean Combs—whatever you want to call him—has re-listed his 2,292-square-foot Park Imperial loft for $7.9M. The new listing sees a $500K price reduction. [Curbed] New York is lagging other major cities in its pace of residential construction. Permits for 17,995 new housing units were issued in 2013—a little more than half […]

May 14, 2014

And the Cycle Continues: Stuy Town Ownership to Change Hands Again

It looks like Stuyvesant Town-Peter Cooper Village may be headed back to auction. Manhattan’s largest rental community is no stranger to the game of musical chairs that their owners have been inadvertently playing. The complex, comprised of 80 acres, 110 buildings, and 11,231 units between 14th and 23rd Streets, has had an interesting decade. It sold to Tishman Speyer Properties and BlackRock for a record $5.4 billion at the height of the real estate boom in 2006. Despite being accused of trying to push out lower income residents with high prices, they actually defaulted on their loan in 2010. Ownership of the property was transferred to the lenders, represented by CWCapital.
Drama in Stuy Town