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Sale of Starrett City Complex Closes for Reported $905M
Brooksville Company and Rockpoint Group have completed the purchase of Spring Creek Towers, the 5,881-unit Brooklyn apartment complex formerly known as Starrett City, from its previous owner, Starrett City Associates. The nation’s largest subsidized affordable housing complex, the property sold for $905 million, Bloomberg reported.
Brooksville, Rockpoint and Starrett City Associates entered a contract to transfer ownership in September of 2017, pending final approval from state and federal regulators, including HUD. Approval was granted earlier this week.
“We have long believed in the need to protect and preserve affordable housing in New York City and are committed to the long-term health of this community,” said Brooksville president Andrew MacArthur.
Cushman & Wakefield’s Doug Harmon arranged the sale. The new owners will extend the current Section 8 protections by 20 years through 2049, and invest over $140 million in capital improvements.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition

