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BREAKING: Tishman & Co. Buy Stuyvesant Town/Cooper Village for $5.4b

Done deal—it's an investment group lead by Tishman Speyer snapping up Peter Cooper Village and Stuyvestant Town not for a piddly $4.6 billion but rather for a cool $5.4 billion, David Lombino reports.

Lombino adds this color, "Tishman Speyer, which controls Rockefeller Center, has partnered with the Blackrock Group and the California State Teachers' Retirement System, the second-largest public pension fund in the United States, according to sources familiar with the deal." No statement of intent from the purchasers as yet, though we bet it has something to do with making money.

Impacting, developing, and general mayhem to follow.
· Met Life Agrees to Sell Stuy Town to Tishman Speyer for $5.4 Billion [NYSun]
· Curbed Cheatsheet: Stuyvesant Town/Cooper Village Sale [Curbed]