Stuy Town Foreclosure, Officially
Eliot Brown Feb. 17, 2010, 12:10 p.m.
Here’s the complaint filed in federal district court in which mortgage holders foreclosed on the owners of Stuyvesant Town/Peter Cooper Village, a team led by Tishman Speyer.
It’s time stamped Tuesday at 12:48 p.m., and the plaintiffs are Bank of America and U.S. Bank, on behalf of special servicer CWCapital, which is coordinating the foreclosure.
Actions like these can be lengthy—the foreclosure at Larry Gluck’s Riverton Houses in West Harlem took a year—and stand to get more complicated if some holders of the less-senior mezzanine debt take legal action in an attempt to get a greater stake or payout.