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Authorities will conduct review of Stuy Town deal in light of Blackstone’s vacancy strategy

It was heralded as the most vital affordable housing deal in a generation, but now the city and state are reviewing their agreement with Blackstone Group after new rent regulations drove the landlord to dramatically pull back its investment into Stuyvesant-Town Peter Cooper Village, which it bought for a record $ 5.3 billion. In 2015, Blackstone, one of the world’s largest financial firms, received a $ 220 million financing package from the city in exchange for preserving […]


The Real Deal New York

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