Owners: $5.4B NY housing complexes go to creditors

FILE - The Peter Cooper Village and Stuyvesant Town apartment complex is seen in New York in this Oct. 17, 2006 file photo. The owners of two massive New York City apartment complexes that sold for a record $5.4 billion a few years ago are turning them over to their creditors, a spokeman for the owners said in an e-mail Monday, Jan. 25, 2009. (AP Photo/Mary Altaffer, file) (AP Photo/Mary Altaffer, file)

January 25, 2010 8:16:42 AM PST
The financially troubled owners of two massive apartment complexes that sold for a record $5.4 billion a few years ago said Monday they're turning them over to their creditors.

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