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Ivanhoé, Blackstone Acquire New York’s Biggest Apartment Complex


Ivanhoé Cambridge is partnering with Blackstone to buy New York’s Stuyvesant Town-Peter Cooper Village from CW Capital for a reported $5.3B, a deal that will ensure 5,000 below-market-rent units at the city’s largest apartment complex (11,000 units across an 80-acre property) remain affordable for “at least” the next 20 years, the developers said. They also plan to protect the community’s open spaces and the “unified nature” of Peter Cooper Village and Stuyvesant Town and create an environment “welcoming to long-term tenants seeking to put down roots.”