Starrett City to go on sale

June 03, 2008 07:47AM

Starrett City, the 5,881-unit Brooklyn apartment complex, will be put up for sale this week, following an agreement reached with its owners that will keep it affordable. Most of the apartments will be covered by the federal Section 8 rent subsidy program. About 40 percent of the apartments will be rented at rates that are tied to the market but approved by the city and the state. Last year, a $1.3 billion sale to David Bistricer, a real estate investor, was blocked because higher-paying tenants would have been needed for him to make a profit. 

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