Wall Street Journal
The sprawling complex collapsed under the weight of over $4billion of debt and a failed plan to convert rent-controlledproperties into larger rentals. Meanwhile, Appaloosa Management istrying to stop Stuy-Town from foreclosing, which would cost, as perAppaloosa's estimate, about $200 million in transfer taxes. Ajudge, however, denied Appaloosa's request to intervene.
To read the full WSJ story, please click here.
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