Other People's Money

The real estate giant Tishman Speyer and its partner, BlackRock, thought they had it all figured out. They would build luxury condos using borrowed money, turning a profit as the building appreciated in value. But Other People’s Money is the inside story of how Tishman Speyer and BlackRock lost billions of dollars when their much-vaunted purchase of Stuyvesant Town-Peter Cooper Village in New York City failed to deliver the expected profits. The former New York Times reporter who covered this story in detail offers a riveting account of politics, high finance, and the hubris that ultimately led to the nationwide real estate meltdown.