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Shock of the Week: Starrett City Sale is Toast

You can file the apparent death of the Starrett City sale under things you strongly suspected might happen. Yesterday, the Secretary of the Department of Housing and Urban Development sent a letter to buyer Clipper Equity strongly indicating the done deal was probably undone, partly because there was no plan for how the 46-building complex would remain “a viable community for New Yorkers of modest means.” Maybe it was the opposition and bad press that did it? Or could it have been a little bit of backwawsh from the Stuy Town and Peter Cooper Village sale? Formal announcement is this morning, followed by what an e-mail says will be "a celebration" by opponents. In any case, looks like the 14,000 tenants at Starrett City will be getting a new, new landlord.
· HUD Blocks Proposed Sale of Starrett City [NYT]
· Stick a fork in Starrett City deal [NYDN]
· Is Starrett City Sale an Undone Deal? [Curbed]