Losing Stuy Town Bidder Rips Condo Plan For NYC Complex

Law360, New York (December 2, 2011, 6:51 PM EST) -- The developer who lost a bid to turn New York City's biggest housing complex into a cooperative on Friday criticized the tenants association's choice to work with rival bidder Brookfield Asset Management Inc. to convert the complex's 11,232 apartments into condominiums.

In a letter posted Friday on the Stuyvesant Town-Peter Cooper Village Tenants Association's website, Guterman Westwood Partners LLC said its plan, which the tenants group rejected Wednesday, would save residents money.

Guterman Westwood, which is backed by condo and co-op mogul Gerald Guterman, criticized Brookfield's...
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