grizzer
New member
11,232 units for $5.3B
Metlife held it from opening day 1947 to 2006, buyer went under in 2010 & resold now for about the same price although 42% greater cash flow.
25 year property tax abatement for Metlife probably doubled their yield...
http://www.cbsnews.com/news/manhattans-largest-apartment-complex-to-be-sold-for-5-3b/
https://en.wikipedia.org/wiki/Stuyvesant_Town–Peter_Cooper_Village
Metlife held it from opening day 1947 to 2006, buyer went under in 2010 & resold now for about the same price although 42% greater cash flow.
25 year property tax abatement for Metlife probably doubled their yield...
http://www.cbsnews.com/news/manhattans-largest-apartment-complex-to-be-sold-for-5-3b/
https://en.wikipedia.org/wiki/Stuyvesant_Town–Peter_Cooper_Village