NEW YORK (CBS 2) — The auction of Manhattan’s largest residential complex has been put off for a week.
The owner of Stuyvesant Town and Peter Cooper Village defaulted on loans totaling $5.4 billion earlier this year.READ MORE: 16-Year-Old Killed In Double Shooting On Lower East Side, Second Victim In Hospital
The investors who bought took over the property for $3 billion and were most likely to become the new owners.READ MORE: CDC Issues New COVID-19 Guidance For Holiday Season
However, a foreclosure auction that was supposed to happen Monday was delayed until next week.
Published reports said the senior loan holders were negotiating with hedge fund billionaire William Ackerman, who bought a $300 million bridge loan this summer for $45 million in an attempt to foreclose on the complex.MORE NEWS: New Video Shows Woman With Red Gas Can Inside Store Before Fire At Brooklyn Yeshiva