Florida Virtual Houses

Clock Ticks on Sale of Huge Brooklyn Housing Complex

September 8th, 2008

The finish line is in sight for the competition to acquire Starrett City, a nearly 6,000-unit Brooklyn apartment complex that will command the highest price for a U.S multi-family property this year. News reports indicate the remaining candidates include combinations of national commercial real estate investors and local non-profit groups. The team with the most members includes Westbrook Partners, the Metropolitan Council on Jewish Poverty, the New York City Central Labor Council, Citigroup and Touro College. Also reportedly in the running are Greater Allen A.M.E. Cathedral Housing Corp. in joint venture with JPMorgan Chase; Housing Partnership Development Corp., Cogsville Group, Clarett Group, the Christian Cultural Center and Aimco; and NHP Foundation along with The Related Cos.

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