Peter Cooper Suitors Trimmed at $4B to $5B

NEW YORK CITY-The field is narrowing in the much-publicized, highly prized ownership bid for Peter Cooper Village and Stuyvesant Town. After what was described by one source as an “intense closed-door session,” Vornado, Tishman Speyer, Apollo and Related are among those with active bids still on the table, published reports reveal this morning.

But don’t rule out the power of the tenancy, and according to this morning’s Washington Square News, the feisty tenants association is in the running with a $4.5-billion bid for the massive, 110-building property. “The group’s offer is in competition with an unspecified number of bids from private developers ranging from $4 billion to more than $5 billion,” the paper reported.

The complex is situated on the East Side of Manhattan and runs from the East River to First Avenue and 14 to 23rd streets. The total area covered by the complex is more than 80 acres and contains more than 11,200 rental units.