NEW YORK CITY—Blackstone—through funds it manages on behalf of its real estate investors—and Ivanhoé Cambridge have closed on their previously announced acquisition of Peter Cooper Village Stuyvesant Town. Despite previous reports, GlobeSt.com has confirmed that the sale was done at the record-setting price of $5.45 billion.
Eastdil Secured's Doug Harmon acted as the exclusive advisor in the transaction.
As part of the transaction, a long-term affordability program has been established to protect 5,000 below-market units, ensuring they remain affordable to moderate and middle-income families for at least the next 20 years. The agreement also offers new protections for roughly 1,400 "Roberts" units.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
