Starrett City | The Real Deal New York

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Starrett City

1461 Pennsylvania Avenue
Brooklyn, NY 11239
Residential, Sales, Leasing/Rental, Other

Starrett City, also known as Spring Creek Towers, is the largest government-subsidized residential rental complex in the United States. It sits on a 153-acre site near Jamaica Bay in Brooklyn, New York, and includes 46 buildings. The complex, established in 1974 under the Mitchell-Lama program, eventually grew to 5,881 apartments housing around 15,000 residents. It also includes eight parking garages. In 2007, during the real estate boom, private equity firm Clipper Equities reached an agreement with the owner of Starrett City, a group of investors, to buy it for $1.3 billion. However, politicians opposed the likely logic of the deal, conversion of the complex to market-rates, and the Department of Housing and Urban Development rejected the sale to Clipper. A second attempt at buying it, after reassuring residents Clipper would not convert the complex to market-rate, also failed. The complex's owners Starrett City Associates, a group of investors first led by the late financier Disque Deane (who died in 2010) and now by his widow Carol Deane, announced in early 2009 they would abandon attempts to sell it and that it would remain within Mitchell-Lama. Donald Trump disclosed in his financial filings as a candidate for president that he has a 4 percent ownership stake in the complex. -TA

  • Year Built 1973
  • residential units 5,881
  • total units 5,881
  • square feet 5,000,000
  • block and lot 3-04452-0325
  • BIN 3098300

11/08/17
...the time, the grandfather of mixed-use projects. When Starrett City was first offered for sale , the deal didn’t go through. Working behind the...

11/07/17
...into contract — including the whopping $850 million sale of Starrett City (now called Spring Creek Towers) in Brooklyn. And industry insiders say it’s way...

10/27/17
...offer, so we took it.” Canarsie’s massive Starrett City complex went into contract in September to Brooksville Company and Rockpoint Group for $850 million...

10/17/17
...and Rockpoint Group’s $850 million pending purchase of Starrett City and Fairstead Capital’s roughly $100 million purchase of 42 buildings in Sunset Park...

10/11/17
...New York City's largest affordable housing complexes, including Starrett City, which is under contract with Rockpoint Group and Brooksville Company, where the federal government...

10/02/17
...with fangs. His signature accomplishment: the development of Starrett City, the massive Brooklyn housing project that President Trump, one of his partners on the...

09/28/17
...Carol Deane and Disque Deane, Jr. The Starrett City megadeal has set off a family feud. Limited partners of the massive multifamily complex...

09/26/17
...Harmon, Andrew MacArthur, President Trump, David Bistricer and Starrett City (Credit: Starrett City and Getty Images) Just 10 years ago, the largest federally subsidized housing...

09/20/17
...left: Alan Wiener, Andrew MacArthur, Keith Gelb and Starrett City Brooksville Company and Rockpoint Group are in talks with Wells Fargo to secure about...

09/11/17
...Bistricer’s Clipper Equity made a play for Starrett City, a Brooklyn housing complex with nearly 6,000 units that is the country’s largest federally...

09/06/17
...Starrett City in Brooklyn and Rockpoint Group's Keith Gelb Andrew MacArthur's Brooksville Company and Rockpoint Group...

07/10/17
...From left: Starrett City, Donald Trump and Ben Carson (Credit: Getty Images) The House Committee on Oversight and...

06/21/17
...Starrett City and Ben Carson (Credit: Getty Images) Plagued in recent years by wear and tear...

01/12/17
...questioning Carson on Trump’s stake in the Starrett City affordable housing complex in Brooklyn, which has received HUD assistance. When asked if Carson...

11/30/16
...Spring Creek Towers, formerly known as Starrett City, in Brooklyn (credit: Spring Creek Towers) The owners of Starrett City are negotiating with...

10/21/16
...bought a controlling interest in what later became Starrett City , collected modern art with his wife, Sylvia. After he died in 1986, she continued to...

03/01/16
...CEO David Bistricer talks about his battle for Starrett City, not having a television and his one true vice: making money. To read the...

12/03/15
...From left: Scott Stringer and Starrett City City landlords are openly refusing to consider potential tenants on public assistance, even posting...

09/02/15
...as a third plaintiff. Spring Creek Towers, formerly Starrett City, is owned by Starrett City and managed by Grenadier Realty. The complex, the largest...

12/16/14
...the late developer Robert Olnick, whose credits included Starrett City. Today, Boxer heads Stroock & Stroock & Lavan’s real estate practices, where his...

11/08/14
...very boring.” 3. The late founder and CEO of Starrett City Associates, which owns Starrett City in Brooklyn, Disque Deane literally “broke bottles over heads...

12/05/13
...project since Co-op City in the Bronx and Starrett City in Brooklyn were finished more than 30 years ago. The project will be TF Cornerstone's...

09/18/13
...sought to block Bistricer’s bid to buy Starrett City, the massive rent-regulated Brooklyn apartment project, for what was then considered the astronomical price...

07/09/12
...Times said. But in East New York and Starrett City, that percentage stayed steady at 4 percent. “Even in certain parts of Bedford-Stuyvesant you find...

05/25/11
...to buy Brooklyn’s huge affordable housing complex Starrett City in 2007 in return for his efforts to improve conditions at 1402-04 Brooklyn Avenue, a...
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