Tishman Speyer and BlackRock committed to orderly transition of Stuyvesant Town

Tishman Speyer would not consider a long-term management contract to continue operating the property that does not involve ownership. Without a restructuring that would keep our ownership group as part of the equity, we felt it best that the new owners install a new management team.

We are fully committed to an efficient transition of the property’s operation and are offering to continue managing the property during this period to make the transition smooth and seamless for the residents.

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