WPIX Channel 11 News features Integra Realty Resources

by Chris Glorioso

WPIX Channel 11 News features Integra Realty Resources's President Jeffery Rogers in a segment about the high-profile purchase of Manhattan complex collapsing under debt. A group led by Tishman Speyer Properties has decided to give up the sprawling Peter Cooper Village and Stuyvesant Town apartment complex in Manhattan to its creditors. The decision comes after the venture between Tishman and BlackRock Inc. defaulted on the $4.4 billion debt used to help finance the deal. The venture acquired the 56-building, 11,000-unit property for $5.4 billion in 2006—the most ever paid for a single residential property in the U.S. "What were suffering from right now is a lack of liquidity in the market place and there is a shyness away from these large deals. These large deals will come back but it is going to take a lot of Liquidity," says Jeffery Rogers.