Wilbur Ross, LeFrak Interested in Stuyvesant Town

A partnership between Wilbur Ross and Richard LeFrak have expressed interest in Stuyvesant Town, from management to outright acquisition. And they have the funds to back it up:

“We are not really capital-constrained, so we can put up whatever is needed,” Ross said in a telephone interview. “We’re prepared to go all the way.”

The complex is huge, but these two organizations have the chops, particularly LeFrak, whose organization owns thousand and thousands of housing units.

Still, there are layers of debt on this and lots of mouths to feed.

[via Bloomberg]

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