Tishman Speyer wins! Stuyvesant Town, Peter Cooper bring $5.4b.

Real Estate Weekly | October 18, 2006| | Copyright

Stuyvesant Town and Peter Cooper Village have been sold by the Metropolitan Life Insurance Company to a partnership between Tishman Speyer and BlackRock Realty for $5.4 billion, what is thought to be the highest price ever paid for a single residential property.

"Peter Cooper Village and Stuyvesant Town is an extraordinary asset and we are very pleased with the market reaction we received to this sale," said Robert Merck, head of real estate investment for MetLife.

When Met first announced its intention to sell during the summer, it said any deal would be ...

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