Clipper forms new Starrett partnership

David Bistricer of Clipper Equities–whose $1.3 billion bid to buy Starrett City has been blocked by state and federal authorities–is still trying to purchase the 5,881-unit complex. Bistricer has repeatedly revamped his offer in an effort to show he will maintain the property’s stock of affordable housing. Now Bistricer has reached a tentative agreement with the Abyssinian Baptist Church in Harlem under which the church and Clipper would jointly run Starrett. The management company would ensure that the complex remained in the Mitchell-Lama program. more [Crain’s]