Stuy Town Tenants in Brookfield-Backed Bid to Buy

NEW YORK CITY-The tenants association at Stuyvesant Town-Peter Cooper Village is launching a bid to buy the complex from CW Capital, the special servicer representing the property’s bondholders. It’s the second such bid—the first came in 2006—but this time the association has a partner with deep pockets on its side.

The board of the tenants association at the sprawling complex voted Tuesday to approve an agreement with Brookfield Asset Management that it hopes will lead to the submission of a successful proposal to CW Capital. Although an official plan has yet to take form, the partnership was announced Wednesday by representatives from Brookfield, the tenants association and city and state officials.