Brookfield Joins Stuyvesant Town Tenants on Bid for Complex

Brookfield Asset Management Inc. is working with the tenants association at Stuyvesant Town-Peter Cooper Village on a bid to buy Manhattan’s biggest apartment complex from its debt holders.

Brookfield, a Toronto-based investment firm that manages about $150 billion, is teaming with the tenants on a conversion proposal that will allow residents to buy their apartments “at a reasonable price,” Al Doyle, the association’s president, said in a letter posted on the group’s website. Tenants would have the option to continue to rent, he said.