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

02/06/18
...Group and Brooksville Company’s $905 million purchase of Starrett City; WeWork and Rhone Group’s $850 million purchase of the Lord & Taylor flagship; and...

...Group and Brooksville Company’s $905 million purchase of Starrett City; WeWork and Rhone Group’s $850 million purchase of the Lord & Taylor flagship; and...

01/26/18
...Broadway, Starrett City, Keith Gelb, Paisley Boney and William Walton Rockpoint Group doesn’t have the Blackstone...

01/24/18
...sought to block the $905 million sale of the Starrett City complex in Brooklyn to Rockpoint Group and Brooksville Company. That suit was dismissed earlier...

01/23/18
...this year on the $905 million purchase of the Starrett City housing complex. -- Konrad Putzier...

01/03/18
...lawsuit seeking to block the $905 million sale of Starrett City, the largest federally subsidized housing complex in the U.S. Minority owners of the...

12/31/17
...due in part to the $850 million sale of Starrett City. Sources told The Real Deal their performance is integral to Cushman’s plans to...

12/29/17
...Group and Brooksville Company’s $905 million purchase of Starrett City; WeWork and Rhone Capital’s $850 million purchase of the Lord & Taylor flagship; and...

12/21/17
...the massive Brooklyn housing complex commonly known as Starrett City, which is controlled by Deane’s surviving wife Carol, went into contract to sell...

12/05/17
...investors, Harry Helmsley, David Lichtenstein, Park Lane Hotel, Starrett City, Empire State Building, Harry Macklowe, Steve Witkoff, Gary Barnett and 432 Park TRD Special Report...

12/04/17
...these opportunities will be explored. Completely different question: Starrett City… I can’t talk about Starrett City. I have recused myself. Secretary Carson said...

11/30/17
...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...

11/27/17
...clause in the federal government’s subsidy of Starrett City could lead to rent spikes at the country's largest public housing complex if a...

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...

...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...

...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...

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...
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