With Harlem's Riverton Houses entering foreclosure proceedings?and Tishman Speyer talking to its partners about raising capital to stave off a default at Stuyvesant Town?the Times looks at what a failed megadeal means for the tenants already in place. Pluses: "[Tenants] still enjoy the benefit of newly refurbished lobbies and elevators, as well as extensive landscaping." Minuses: "if the lender is unable to sell the property quickly...Riverton could languish with a 'hands-off' managing agent that knows that it will eventually be replaced by a new owner." [NYT]
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