Starrett City in Brooklyn and Rockpoint Group s Keith Gelb
Andrew MacArthur s Brooksville Company and Rockpoint Group are in contract to buy Starrett City for $850 million from a group of owners including President Trump.
The deal with the seller, Starrett City Associates, for the massive Brooklyn rental complex is subject to approval from the federal Department of Housing and Urban Development as well as state housing 爱上海同城手机版
The sale raises potential conflicts of interest for Trump, who owns a 4 percent stake in the complex and stands to take in about $14 million after taxes and expenses. (The Trump family all together own about上海同城对对碰交友社区
“The president is on both sides of the negotiation — he oversees the government entity providing taxpayer funds and he pockets some of that money himself,” Representatives Hakeem Jeffries and Elijah E. Cummings wrote in a letter in July to the trust that holds Trump’s interests and to HUD Secretary Ben Carson.
MacArthur, a former CWCapital Asset Management executive who led the $5.3 billion sale of Stuyvesant Town-Peter Cooper Village in 2015, launched his own investment firm Brooksville last year. Brooksville is also a minority partner with Rockpoint on two adjacent rental buildings at 63 and 67 Wall Street in the Financial District, and a managem上海千花网龙凤论坛
MacArthur told the newspaper his company and Rockpoint were “comm爱上海同城论坛
Starrett City is the largest federally subsidized housing complex in the country, spanning 145 acres in Brooklyn with 5,881 apartments in 46 buildings.
Cushman Wakefield’s Doug Harmon, who worked with MacArthur on the sale of Stuvyesant Town, is representing Starrett City Associates in the deal. [NYT] – Rich Bockmann
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