24/7 Wall St. analyzed large real estate transactions in the U.S. to come up with a list of the top 10 biggest deals. They're surprisingly homogeneous: All are in Manhattan, occurred in the past 10 years -- and most are office buildings.
Four years ago, at the height of the real estate bubble, it seemed like a great idea: buy Manhattan's massive Peter Cooper Village and Stuyvesant Town housing complexes, throw out the existing tenants and raise the rents to market rates, then sit back and collect billions. But for Tishman Speyer Properties, the deal quickly turned sour. And on Monday, the real estate investment firm threw in the towel, turning the complex over to creditors in one of the the biggest real estate fiascoes in history.