NEW YORK CITY—Looking beyond the soap opera-like headlines of the proposed sale of Starrett City, real estate attorney William P. Walzer says, “It is so competitive to get property these days that people buy limited partnership interests as a way of leveraging decision makers to sell to them.”
Walzer, a partner at Davidoff, Hutcher & Citron is not involved in the Starrett City lawsuit, so in a GlobeSt.com interview provided an impartial assessment of the case.
Within the group of plaintiffs, trying to stop the sale of Starrett City, the largest federally subsidized housing complex in the country, Walzer points to two substantial corporations: Belveron, LLC, based in San Francisco, CA and LIHC (Lower Income Housing Corporation), based in Portland, ME. Together they own a 12% interest in Starrett City.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
