The Market

StuyTown auction (and windfall dreams) delayed

By A. Ready | October 12, 2010 - 3:28PM 

StuyTown is one step closer to a takeover, but the anxious inhabitants still do not know who will take control of the 110-building complex, nor whether that will result in a remarkable opportunity to buy their units at below-market rates.  Reporting that tomorrow's auction has been postponed for Oct. 22nd, Charles Bagli at the New York Times explains that “senior lenders have resolved their dispute with a rival group … but the lenders are still putting together the legal and corporate machinery for a takeover of the largest residential development in Manhattan.”

Brick Underground articles occasionally include the expertise of, or information about, advertising partners when relevant to the story. We will never promote an advertiser's product without making the relationship clear to our readers.