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How the largest real-estate deal in history turned out to be a massive bust

Blog by Brad Herman | April 19th, 2013

In 2009, Fitch Ratings valued the 80-acre Stuyvesant Town-Peter Cooper Village apartment complex in Manhattan at US$1.8-billion. Unfortunately, it had been sold three years earlier for US$5.4-billion.

The largest real-estate transaction in history had turned out to be a massive real-estate bust.