The first round of bids in MetLife's sale of Stuyvesant Town/Peter Cooper Village are in, and the big number is this: $4.5 billion. That's the minimum it's going to cost one lucky bidder to buy the 110-building complex. For those robust enough to have made the cut, the next round of bids is due October 15, with final disposition expected by November 15.
And what of the tenants who want to band together to buy the place themselves? No word if their bid—which a supporter characterized as "not a bake sale effort"—is still in play.
· Round One: $4.5 Billion [NYPost]
· Senators, Council Speaker Pressure Met Life To Sell Buildings to Tenants [NYSun]