MetLife Inc. (MET) has put up the Stuyvesant Town/Peter Cooper Village complex on Manhattan's East Side, a multibillion dollar property, for sale with some of the biggest names in real estate as possible buyers, according to this MSNBC.com article.
The property contains more than 11,200 units spanning nearly 27 square blocks. So far, the response to the announcement has been positive, Metlife spokesman John Calagna told The Associated Press on Wednesday.
MetLife has hired brokerage firm CB Richard Ellis Group Inc. to market the properties, and official papers for formal bids will be released next week, Calagna said. The company will evaluate any offers over the next few months before making a final decision. If no bid meets MetLife’s price, then it won’t sell the property, he said.
While Calagna declined to name that price, the Times put it at $5 billion.
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