FIRST AIRED: May 23, 2017

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00:00:00
nt a real estate deal so big that it brings together mainstream wallstreet and city hall the massive complex of eleven thousand apartments Nona Stuyvesant town Peter Cooper village is close to changing hands I'm trying to get in on the east side of New York City , private equity firm Blackstone is preparing to dig deeper into the housing market already one of the biggest landlord , in the , a source says that blacks don't is on the verge of government up the largest , of affordable housing building , in one of the most expensive cities , in the world , turn it revolts at the last nail in two thousand six quickly down the toilet , time and investment group looking for big profits led by Tishman Speyer properties look out billions a loan to pay five point four billion the largest deal ever in real estate , the buyers the exorbitant price makes sense because they plan to push out thousands of middle class residents who are paying below market rate , tenet lawsuit prevented that the financial crisis erupted and the buyer defaulted on its loans and lenders had to step in fast forward to twenty fifteen the housing market is on an upswing leading inclined toward New York City apartment hitting a record of just under a million dollars demand is insatiable financing rate continues to be at historic lows and Blackstone is ready to pounce with a five point three billion dollar deal but in a move to avoid accusations of robbing Manhattan's middle class of their last bastion of affordable housing Blackstone has agreed to preserve nearly half of the apartment but under market rate right but twenty years , I don't enter any hall the New York City mayor's office offering a more than two hundred million dollar helping hand through tax incentives and a low cost loan with this purchase Blackstone on a real estate buying spree since twenty twelve is betting the returns from mainstream , keep wallstreet investors happy