Simplify the following text for a Grade 14 native English-speaking person.
Original: Stuyvesant Townâ '' Peter Cooper Village is a large private residential development on the East Side of the borough of Manhattan in New York City , and one of the most iconic and successful post-World War II private housing communities .
Simplified: Stuyvesant Townâ '' Peter Cooper Village is a large , private residential community on the East Side of the borough of Manhattan in New York City , and one of the most iconic and successful post-World War II private housing communities .