It’s hurry up and wait at Stuyvesant Town and Peter Cooper Village, the financially troubled apartment complexes on 80 acres overlooking the East River.

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The foreclosure auction, which was slated for Monday, to sell Stuyvesant Town/Peter Cooper Village was postponed until next week as senior lenders work on a deal to purchase a mezzanine loan held by a partnership led by hedge fund billionaire William Ackman, sources said.

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The senior lenders at Stuyvesant Town and Peter Cooper Village, the sprawling apartment complex overlooking the East River, can proceed with a foreclosure sale on Monday, the appellate division of the State Supreme Court said Tuesday.

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Four years ago, as the maneuvering to buy Stuyvesant Town/Peter Cooper Village reached a fever pitch, the Bloomberg administration said it was worried the sale could endanger affordable housing and that it wanted to work with the buyer to preserve middle-class housing.

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Two investors vying for control of the financially troubled Stuyvesant Town and Peter Cooper Village complexes in Manhattan have proposed an unprecedented partnership with the 25,000 tenants there that would create an affordable housing co-op and allow the investors to reap a profit.

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The fate of Stuyvesant Town/Peter Cooper Village remained in limbo Thursday after a New York state Supreme Court judge postponed ruling on whether a joint venture, which includes a hedge fund run by high-profile manager Bill Ackman, can foreclose on the property.

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The activist investor team of Bill Ackman and Winthrop Realty Trust has fired back in the ongoing creditor fight over the control of Stuyvesant Town. The team, which is trying to wrest control of the 80-acre East Side property amid a

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A joint venture between Pershing Square Capital Management and Winthrop Realty Services will not be allowed to foreclose on Stuyvesant Town/Peter Cooper Village next week, the court ruled on Thursday.

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The battle for Stuyvesant Town and Peter Cooper Village has begun.

CW Capital, the company that currently controls the sprawling apartment complexes, filed papers in State Supreme Court in Manhattan on Wednesday seeking to block a hedge fund and its partner from trying to take over the properties,

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If all goes according to plan, next Thursday a new partnership led by hedge fund honcho William Ackman will buy Manhattan’s largest housing complex—the 110-building Stuyvesant Town/ Peter Cooper Village—paying as little as $45 million in a foreclosure auction.

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Know your Building – Peter Cooper Village

Address:
317 Avenue C
New York, New York 10009
(Stuyvesant Town)

The historic Peter Cooper Village, located in Stuyvesant Town, is an encapsulated neighborhood on the shore of the East River.

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The billionaire hedge fund manager William A. Ackman has great ambitions for Stuyvesant Town, but he is also taking considerable risks. The sprawling apartment complex on the East Side of Manhattan could end up being either a cash

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Billionaire investor Wilbur Ross says he’s not walking away from Stuyvesant Town-Peter Cooper Village despite hedge fund honcho Bill Ackman’s recent move to take control of the troubled Manhattan apartment complex.

“My interest has not changed nor has the interest of my partners,” Ross said in an e-mail to The Post.

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Hedge fund investor William Ackman and Winthrop Realty Trust (FUR.N) may attempt to put the Stuyvesant Town/Peter Cooper Village Manhattan apartment complexes into bankruptcy if they can’t work out a deal with the mortgage lenders.

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New York hedge fund honcho Bill Ackman has set his sights on the beleaguered Manhattan apartment complex Stuyvesant Town-Peter Cooper Village — with an ambitious plan to wrest control of the 11,227-unit complex by transforming the infamous rental property into a giant co-op.

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Tenants of market-rate apartments at Stuyvesant Town/Peter Cooper Village won a significant victory on Thursday when a judge ruled that they are entitled to rebates for rent overcharges.

The ruling stems from a court decision last October, which said

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By Karen Freifeld

A class-action lawsuit by tenants of Stuyvesant Town and Peter Cooper Village, Manhattan’s largest apartment complex, against MetLife Inc. seeking $215 million for improper rent overcharges may proceed, a judge ruled.

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