Tishman Speyer Properties LP and BlackRock Inc. were expected to miss a payment Friday on debt from their $5.4 billion purchase of Stuyvesant Town and Peter Cooper Village, said New York City Councilman Daniel Garodnick.

Garodnick, a resident of the 80-acre apartment complex, said Rob Speyer, Tishman Speyer's co-chief executive, told him Thursday that the payment would not be made.

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