Details
Property manager CWCapital Asset Management LLC
A client Peter Cooper Village
Start Date 2010-00-00
Amount $45,000,000
Goods CW has managed the 11,000-unit Stuyvesant Town-Peter Cooper Village development on bondholders’ behalf since 2010. According to documents in an unrelated lawsuit, CWCapital and Fortress had reaped $7.5 million a year in special servicing fees for running Stuyvesant Town, a total of $45 million over the last six years. They would gain an additional $15 million as a liquidation fee for the sale of Stuyvesant Town.
Notes CW took title to the property June 3, 2014, by exercising a deed in lieu of foreclosure.