MetLife: Sale of East Side Buildings Will Not Alter Character of Properties

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The New York Sun

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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