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Brooklyn CD05 Projects
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Brooklyn Community District 05
127 Pennsylvania Avenue
Brooklyn, NY 11207
Phone: 718.498.5711
Fax: 718.345.0501
Email: bklcb5@verizonesg.net
Starrett City
On December 1, 2006, Disque D. Deane, chairman of Starrett City Associates, announced the sale of Spring Creek Towers—better known as Starrett City, a 140-acre apartment complex on Jamaica Bay in Brooklyn. Starrett City is the largest federally subsidized rental complex in the country, comprising 46 towers, 5,881 apartments, 14,000 residents as well as schools, churches, synagogues, a shopping center, post office and power plant. Built in the mid-1970s by a limited-profit housing corporation under the state’s Mitchell-Lama program as subsidized housing for moderate-income workers, today about 90 percent of the tenants get direct federal rent subsidies or other types of government assistance from the city and state.
Critics fear that the new owner could choose to drop out of the Mitchell-Lama program and raise the rents for some tenants. Opponents are also worried about the development of some of the vast amounts of vacant land on the complex.
On February 8, 2007, Clipper Equity L.L.C. a partnership of David Bistricer and Sam Levinson, outbid eight rivals paying $1.3 billion dollar for the complex ($221,000 per apartment). Confirming many people's fears, they say that there is great potential to develop luxury and affordable housing on vacant parcels in the 140 acre complex. They also plan to buy out of the state’s Mitchell Lama program for middle-class families, but insist that Starrett’s existing buildings will remain affordable.
In March, 2007 HUD rejected the proposed $1.3 billion sale of Starrett City to Clipper Equities arguing that they Clipper failed to supply adequate financial information or a plan for how the complex would remain “a viable community for New Yorkers of modest means.” Clipper Equities’ second proposal to buy Starrett City was rejected by the New York State Department of Housing and Urban Development, despite gathering some influential support. Despite these two rejections, Clipper says it will continue to work on the proposal until approved.
As a landlord, Clipper Equity has a mixed record with the city reporting 8,792 outstanding maintenance code violation across 71 buildings. Attorney General Mario Cuomo recently announced that he had discovered that David Bistricer, one of the would-be owners of East Brooklyn’s Starrett City, was permanently banned from selling and operating co-operatives in New York City back in 1998 and vowed to enforce the ban should the landlord try to convert any of Starrett City or build new for-sale units.
Recent headlines
New Starrett City Bids Submitted
July 9, 2008
New York Times
Starrett City Buying Information Online With Limited Access
June 11, 2008
The Real Deal
Agreement Reached to Keep Starrett City Affordable
June 2, 2008
New York Times