http://www.theatlanticwire.com/opinions/view/opinion/Americas-Most-Expensive-Real-Estate-Deal-Goes-Bust-2293 It's official: the biggest real estate deal of all time has gone bust. Tishman Speyer Properties and Black Rock Realty have surrendered Stuyvesant Town and Peter Cooper village, two sprawling Manhattan housing complexes they bought for $5.4 billion for in 2006. This comes as no surprise to residents, real-estate watchers, and economists who have been awaiting the implosion of plans to turn the rent-stabilized haven for middle-class New Yorkers into another condo complex for young investment bankers.
