Ruling Clans Of New York City Are Snapping Up Distressed Real Estate Debt

stuytownFalls

Many of the major players in New York City real estate are returning to the table, but it isn’t the new money charlatans of the last decade.

Instead, names like LeFrak, Durst, and Rudin are again being mentioned as big players in deals that will reshape the city’s landscape in years to come, according to the New York Times.

Included in these distressed debt acquisitions is the now infamous failure of the Stuyvesant Town and Peter Cooper Village purchase, where the LeFraks have now come in to buy up the pieces on the cheap.

And 1 World Trade centre is in the eyes of the Durst family, who are looking to buy a piece of the $3 billion property’s during its development.

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