NEW YORK. Manhattan tenants who live in Stuyvesant Town/Peter Cooper Village could choose to partner with a Pershing Square Capital Management venture in a deal for the vast apartment complex, unless a judge blocks the maneuver.
Under the proposal from the venture led by William Ackman Pershing Square, the Tenants Association, which represents about 25,000 residents, would have an ownership interest in the property. Tenants would not have to put in any money. It's one of many proposals for the complex and would require court permission.