Three Insignia companies will collaborate on the assignment: Insignia Residential Group, Douglas Elliman and Insignia/ESG. Current retail tenants, who occupy more than 100,000 sf of space, will be serviced by Insignia/ESG and Douglas Elliman will handle new and renewal leases for the property's 11,000 units, which house more than 20,000 people. Peter Cooper Village and Stuyvesant Town are adjacent to one another and occupy 80 acres on the East Side.

James B. Digney, senior vice president of MetLife Real Estate Investments notes that "Peter Cooper Village/Stuyvesant Town remain a very important part of our real estate portfolio. Moving to third-party management is a continuation of our overall improvement plan for the complex."

Stephen B. Siegel, president of Insignia Financial, notes that, "We feel this assignment is a testament to the depth and breadth of Insignia's services in both the commercial and residential real estate markets."