Starrett City Bids Due; Wall Street Crisis May Drive Down Price
Today's the deadline to bid on Brooklyn's Starrett City, the nation's largest federally subsidized housing complex. And, unless a dark horse bolts from the shadows, it looks like there will be only two bidders, both of which have community ties that could assuage the affordability concerns of the Department of Housing and Urban Development.
The two groups, according to media reports, are a partnership of Westbrook Partners, the Metropolitan Council on Jewish Property and the New York City Labor Council, among others; and a partnership of the Clarrett Group, the Christian Cultural Center, Housing Partnership Development Corp. and the Cogsville Group.
HUD is expected to decide on a buyer for the more than 6,000-unit complex in the next few weeks. The department rejected a $1.3 billion bid from David Bistricer last year over concerns that Starrett City wouldn't remain affordable for tenants.
And guess what? Pre-financial crisis, Starrett City's sale price was pegged at around $1 billion. Now, according to Commercial Property News, it may go for $600 to $800 million.
35 West 23rd Street
FLATIRON/CHELSEA CONDO LOFT. Live/Work Condo. No detail has been spared. ... More details |
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Most of the world doesn't know about the 65 Trillion Dollar Credit Swap Defaults still looming. It dwarfs the mortgage crises and it all has more to do with a Fiat Currency Bubble Burst.
The info is on http://www.coinage.me/default.htm
Where the flaws are articulated in detail unlike anything you see on the news, such that you can understand them and so the workings are not obfuscated with complexity. A detail solution is provided to fix the foundation, which everyone else speaking about the problem seems to lack.
Many people only see the appearances they do not see the fundamental flaw in the system itself. The bailout should go directly to the homeowners or to stimulate the economy so they can pay their mortgages.
http://storyline.me/default.htm “reports Congress being blackmailed, wealth extorted from citizens”