Tishman returns Peter Cooper Village/Stuyvesant Town to creditors

A group led by Tishman Speyer Properties is handing back the Peter Cooper Village and Stuyvesant Town apartment complex to creditors after struggling for months to restructure the debt. "It has become clear to us through this process that the only viable alternative to bankruptcy would be to transfer control and operation of the property, in an orderly manner, to the lenders and their representatives," the venture said in a statement to The Wall Street Journal.

View Full Article in:

Wall Street Journal (tiered subscription model), The · NYTimes.com

Published in Brief: