MetLife: Sale of East Side Buildings Will Not Alter Character of Properties
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
The Metropolitan Life Insurance Company is defending its right to sell off Stuyvesant Town and Peter Cooper Village following charges by local elected officials that a sale would lead to the permanent loss of a middle-class enclave.
So far, MetLife has accepted more than 50 bids from prospective buyers of the more than 100 buildings containing about 11,200 apartments on Manhattan’s East Side. The sale is expected to net up to $5 billion.
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