A joint venture led by New York developer Tishman Speyer announced yesterday that it will pay a record $5.4 billion for the giant apartment complex Stuyvesant Town and Peter Cooper Village – and promised thousands of tenants that their rent-stabilized apartments are “completely protected.”

Tishman and its partner, BlackRock Realty, outbid several competitors – including tenants of the complex’s 11,232 apartments, who, according to other bidders, offered $4.9 billion.

Tishman Speyer senior managing director Rob Speyer said the partners would keep the property as rental apartments.

“There is good business in residential,” Speyer told The Post. “The opportunity to buy 11,000 units in Manhattan is what you live for.”

The sale, expected to close before the end of the year, will be the biggest ever for a single piece of American real estate. Current owner MetLife expects to book a $3 billion profit.

Some tenants of the 80-acre complex would like to buy their apartments, but the partners don’t plan to sell units right now. They won’t say whether they might do so in the future.

City Councilman David Garodnick – a Stuy Town resident who organized the tenants’ losing bid – said Tishman and BlackRock are paying so much, he’s worried about what they will do to make their investment pay.

“It does create, I would expect, certain pressures on them to be able to extract as much revenue as they possibly can,” Garodnick said.

He also fears the new owners will add buildings, ruining the complex’s park-like features, such as playgrounds and a giant fountain.

Tenants who’d like to rent felt their bid was the best hope for keeping the status quo – but those who’d like to buy their apartments also said the tenant bid would have resulted in low prices.

“I’m paying market rate, so I don’t think it’ll have a huge impact on me,” said John Zak, 24, a teacher who was disappointed the tenant bid lost because he wants to buy. He noted, “I would have gotten the best price from our own people.”

Charlotte Bedford, 80, said, “They can have market-rent tenants – but the older tenants should go on as before.”

“I’m not out for money, but I feel I have a right to live here,” the 40-year resident added.

“The thousands of tenants in rent-stabilized apartments are completely protected by the existing system,” said Jerry Speyer, Tishman Speyer’s president and CEO.

The 110-building complex, which stretches from 14th to 23rd streets, was built by MetLife and opened in 1947.

At first, MetLife kept non-whites out of the complex. The furor that erupted over that rule led to a city law banning discrimination in government-subsidized housing, and MetLife voluntarily lifted the rule in 1950.

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City within city

MetLife reached a $5.4 billion deal to sell apartment complex Stuyvesant Town and Peter Cooper Village yesterday to Tishman Speyer.

Location: East 14th to 23rd streets, from Avenue C to First Avenue

Residents: About 20,000

Number of apartments: 11,232

Number of buildings: 110