Starrett City in Brooklyn, NY
NEW YORK CITY—Brooksville Company and Rockpoint Group have closed on their purchase of Spring Creek Towers for $905 million from Starrett City Associates. State and federal regulators approved the sale of the nation's largest subsidized affordable housing complex, which is still often referred to by its former name Starrett City.
Brooksville and Rockpoint will extend the current federal Department of Housing and Urban Development Section 8 protections 20 years through 2049 and Mitchell Lama protections by 15 years through 2054. They will also invest over $140 million in capital improvements.
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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.
