Starrett City sellers hope for $1B
August, 27, 2008
The sellers of Starrett City, the massive housing complex in Jamaica Bay, Brooklyn, are hoping to get an offer of nearly $1 billion when the second round of bidding ends on Sept. 25. The deadline was delayed to encourage bidders to raise their bids for the 46-building, 5,881-unit complex, which is being marketed by Boston-based Recap Advisors. About 60 percent of tenants receive federal Section 8 subsidies.