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August 31, 2026
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Where did you find it? Very interested to see the first pages. You cant get the big picture out of it with what you have?
Also, pretty sure the deal went down with a lot of considerations outside of what ever cbre was slingin. They ended up taking it down securing a bunch of rights and deals with the city as well from my understanding.
https://therealdeal.com/wp-content/uploads/2015/11/Stuy-Town-offering-b…</a">Here's the link to the offering book sans financials.
My interest in this is primarily academic, but you're not joking about the ridiculous amount of negotiating that went into it. I read https://www.amazon.com/gp/product/0142180718/ref=as_li_tl?ie=UTF8&tag=h…</a">Other People's Money by Charles Bagli (Amazon affiliate link) last year which is what got me thinking about the deal in the first place.
Great book, even though it has an obvious bias
The bias is definitely strong with that one
Page 7: "Adding doormen to further promote the notion of a high-end residential complex"
LOL
Can't imagine the hours those Analysts put in putting that together.
The financials are kind of useless for that deal, the whole thing was built around the agreements with NYC which theoretically allowed them to turn units out of stabilization or up to an AMI cap. ACRIS (NYC document repository) is free, and a much better resource for understanding that aspect of it.
Given how absurdly off the underwriting was, understanding the legal/public policy aspect of the deal is probably more rewarding from an educational standpoint.
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