3 Review(s)

Other People’s Money provides the readers with deep insight into the most spectacular failure in real estate history and uses the Stuyvesant Town-Peter Cooper Village deal to decode how and why this real estate crisis happened. Summary of the Book A veteran New York Times reporter, Charles Bagli provides the explanation behind the mammoth failure in the real estate history. In Other People’s Money, the author writes how real estate giant Tishman Speyer and its partner BlackRock lost a huge amount of money when their much awaited Stuyvesant Town-Peter Cooper Village deal did not materialize and bring them expected profits. Despite such a humongous loss, Tishman Speyer walked away unaffected while the others took the major financial hit and MetLife scored a profit of three billion dollars. Other People’s Money provides valuable information on the world of big real estate and the factors which let to the nationwide real estate meltdown. About Charles V. Bagli Charles V. Bagli is an American journalist and author. He is a New York Times reporter who covers the intersection of real estate and politics. He has worked for the New York Observer, the Tampa Tribune and the Brooklyn Phoenix. He lives with his wife and two daughters in New Jersey.