Deals
Brookfield’s Stuyvesant Town Plan Challenged by Competitor
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A partnership rejected by the Stuyvesant Town-Peter Cooper Village Tenants Association sent a letter to residents criticizing the group’s plan to work with Brookfield Asset Management Inc. and turn Manhattan’s biggest apartment complex into a condominium.
Guterman-Westwood Partners LLC said tenants would be better off financially if the development is converted into a co-operative rather than condos, in which occupants would own their units individually, according to the letter mailed today, a copy of which was obtained by Bloomberg News. The complex, on Manhattan’s east side, has more than 11,000 apartments.