How would you like to be the broker on this one: Metlife has just sold 80 acre Stuyvesant Town in Manhattan for 5.4 Billion dollars, making this the world’s biggest real estate deal, according to Charles Dubow writing in the new isssue of BusinessWeek.
Why so much?
Businessweek points out that it is “rare” in a city such as New York to “find so large a contiguous site.” The property was bought by Tishman Speyer.
Back in 2000, Tishman Speyer purchased Rockefeller Center for almost 2 billion dollars.
Stuyvesant Town was the brainchild of the legendary Robert Moses–master urban builder–and was designed in 1943 to offer affordable housing to city dwellers.