BIG BUCKS: The $5.4 billion price tag for the Stuyvesant Town and Peter Cooper Village apartments makes the Tuesday sale one of the biggest residential real estate deals ever.
DEEP ROOTS: Many of the complex’s 25,000 residents say they were born and raised in the 110 apartment buildings originally built for returning World War II veterans.
RAISE THE RENT? Many residents worry their middle-class rent-stabilized apartments could be converted into top-dollar luxury rentals. The developer that bought the complex says residents won’t lose their legal rights to the rent-stabilized apartments as long as they continue to live there.
By The Associated Press
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