Poor Tishman Speyer. First Stuy Town. Then its Chicago portfolio. And now this.
Brookfield Properties, led by the hunky Ric Clark, is trying to foreclose on a portfolio of 20 buildings owned by Tishman Speyer in Washington, D.C, according to The Wall Street Journal.
The Journal's Lingling Wei writes:
Brookfield Properties Corp. is launching foreclosure Read More
Stuyvesant Town tenants will keep their newly adjusted (and stabilized) rents until at least June. The tenants on a class-action lawsuit and the complex's manager, Tishman Speyer, announced that the current rents for formerly market-rate tenants would be extended through June. The rents had been adjusted in the wake of a court decision that Read More
When Tishman Speyer and BlackRock assembled $6.29 billion from a long roster of investors and lenders to bid on Stuveysant Town in late 2006, their prize was the biggest sale ever by price of an individual property. (The complex was sold for $5.4 billion, and another $900 million was rounded up for reserves and capital Read More
Looks like the tenants at Stuyvesant Town/Peter Cooper Village are viewing the impending default on the 11,200-apartment property with some hope they can get new layers of protection from market rate conversions. The Times reported that owners Tishman Speyer and BlackRock, along with their investors, will miss a debt payment Friday, plunging the $5.4 Read More
After crippling court decision, Fitch downgrades Stuy Town loans; values at $1.8 Read More
Three years ago this month, Stuyvesant Town was a bees’ nest of tenant activism. Rallies with bullhorns, press conferences and elected officials littered the 80-acre brick city on the East Side. The reason? MetLife was selling the longtime middle-class enclave that was Stuy Town and Peter Cooper Village, and the tenants, terrified of the pressure Read More
The extraordinarily significant Stuyvesant Town lawsuit now pending in New York State’s highest court has been quick to galvanize opinion in a familiar divide, pitting advocates of affordable housing against rent-hungry landlords. With the fate of rent regulation rules at stake in the 13,000-unit apartment complex, many elected officials have publicly backed the tenants’ Read More
Lazard looking for brokers for its mammoth Read More
Looks like Tishman Speyer is ramping up its campaign to attract the kind of new market-rate renters that long-time Stuy Town and Cooper Village residents hate: kids fresh out of college who pile into units to keep the rent down (and tend to be the ones responsible for beer cans and vomit in the morning).
We Read More
The postponement of Boston Properties’ plan to erect a $1 billion glass glacier of a skyscraper at 55th Street and Eighth Avenue has hurled two big Read More
On Sunday, Jan. 25, Dick Parsons, Rupert Murdoch, Howard Rubenstein, Bill Rudin and others gathered at the Upper East Side manse of Jerry Speyer to talk with Governor David Paterson about the state’s budgetary gap. Commercial real estate was barely mentioned, odd given that the host, Mr. Speyer, is one of New York’s biggest landlords, Read More
The new figures come from Fitch Ratings, which Read More
On Friday, the ever-embattled Cipriani family, which has operated the hallowed 64th- and 65th-floor banquet hall at 30 Rockefeller Plaza for the past decade, was served with eviction papers, citing millions of dollars in unpaid rent.
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In December, The Observer's Eliot Brown wrote about Cipriani's push to have the Rainbow Room in 30 Rock landmarked. The logic was that a landmark designation would strengthen Cipriani's negotiating position when it came to renewing its lease in 2013 with landlord Tishman Speyer. A landmark designation would limit Tishman's options for possible new Read More
It went like this: Tishman Speyer, along with junior partners, bought Stuyvesant Town and Cooper Village in 2006 for a record $5.4 billion, and set about turning as many of the complexes' rent-regulated apartments market rate as possible. There's been trouble along the way, a lot of controversy, and speculation that the money Tishman paid Read More
