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Investors bring lawsuit to block Starrett City sale

by: Bloomberg News – Crain’s New York Business

Stakeholders in the affordable-housing complex include President Donald Trump

A group of investors in Starrett City, an affordable-housing complex in Brooklyn that counts President Donald Trump as a stakeholder, sued the owners in an attempt to block a proposed sale of the property for more than $900 million.

The group of limited partners in the 153-acre complex, which opened in 1974 and is now named Spring Creek Towers, claim the managing general partners are seeking to sell the property for “far less than market value” and entertained only one offer while ignoring a superior deal.

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