Stuyvesant Town-Peter Cooper Village, the largest apartment complex in Manhattan, is expected to be sold for more than $5.3 billion, an agreement that will preserve nearly half the 11,232-unit complex for middle-class families, according to officials involved in the negotiations.
The sale, to the Blackstone Group, a Wall Street investment firm and one of the country’s largest landlords, includes an unusual regulatory agreement with the administration of Mayor Bill de Blasio that would ensure that a block of 5,000 apartments would be affordable for the next 20 years for families of teachers, construction workers, firefighters and others who have traditionally made their homes at Stuyvesant Town.
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