Housing Agency Denies Sale of Starrett City
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
WASHINGTON — Federal officials have denied approval for the $1.3 billion sale of the nation’s largest federally subsidized rental housing complex, Brooklyn’s Starrett City.
The proposed sale of Starrett City is one of the richest real estate deals in New York City history — and one of the most criticized.
The secretary of the Department of Housing and Urban Development, Alphonso Jackson, planned to announce Friday that the current deal will not pass muster, according to two people familiar with the matter.
The decision comes after HUD lawyers met yesterday with deputies of Attorney General Cuomo.
