Also, some of Tishman Speyer's top-of-the-market investments, other than Stuyvesant Town, remain money-losers.

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The area that was cleared for Stuyvesant Town, for instance, was a mixed use, but largely industrial and commercial district.

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In 2006, Tishman Speyer LP, which also controls Rockefeller Center and the Chrysler Building, and investment firm Black Rock bought Stuyvesant Town-Peter Cooper Village from Metlife.

FORBES: Magazine Article

Meanwhile in New York half-completed structures dot Brooklyn's once-thriving Williamsburg neighborhood, while the massive Stuyvesant Town apartment complex in Manhattan teeters at the edge of bankruptcy.

FORBES: New Geographer

Other clients include Columbia University and Stuyvesant Town.

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In a November interview with Steve Forbes, Editorial Director and Associate Publisher of Real Capital Analytics Peter Slatin, used Stuyvesant Town- Peter Cooper Village as an example of the "suffering from fallout in values, undercut by the terrible over-leveraging of many properties" that has plagued the commercial real estate industry.

FORBES: Magazine Article

Stuyvesant Town and the slightly higher-end Peter Cooper Village were built in 1947, with the help of tax breaks, to provide homes for soldiers returning from the war and public-sector workers. (At first, at odds with the estates' current image as a model community, only whites were allowed, a policy that was abandoned, after some nasty scenes, in the 1950s.) The high-rise estates include 110 unremarkable brick buildings with 11, 232 apartments, home to about 25, 000 tenants.

ECONOMIST: Housing in New York