Per the The Wall Street Journal:
CWCapital Asset Management LLC, a special servicer that represents bondholders of the property’s debt, has hired Doug Harmon at Eastdil Secured LLC to advise it on the sales process, according to a written statement issued by the company on Sunday. The statement said that the owners are able to move ahead with a sale because CWCapital has “finalized in principle the settlement of the outstanding litigation.”
A CWCapital spokesman declined to comment further, but people familiar with the matter say the owner is hoping to sell it for at least $5 billion.
And here's more from Bloomberg, who first reported on the potential sale on Saturday:
A sale of Stuyvesant Town, home to about 30,000 New Yorkers, would end the squabbling and litigation that has plagued residents, bondholders and politicians since 2010, when Tishman Speyer and BlackRock Inc. gave up the property after its value plunged in the financial crisis and they were unable to raise rents.
Guess this is why the owners of Associated aren't having any luck negotiating with CWCapital for a lease renewal on East 14th Street.
Updated 9:39 p.m.
The Blackstone Group is partnering with Canadian investment firm Ivanhoe Cambridge to buy Stuyvesant Town and Peter Cooper Village for $5.3 billion. Read more at The Real Deal.