Developing Affordable Housing Ecosystems World Wide
[Continued from yesterday's Part 1.] Yesterday we saw that David Bistricer, who for more than six months has been trying, with increasing exasperation and apparent desperation, to resuscitate his widely-scorned (albeit not widely analyzed) proposal to buy Starrett City, remove it from Mitchell-Lama regulation. Time’s running out on your bid, sir [...]
Regarding Starrett City, which followed Stuyvesant Town as the next big-top extravaganza New York City affordable rental sale, a few weeks ago we paged a white knight, and in fulfillment of one of the easier predictions I’ve made recently, at the eleventh hour — really, at five minutes to twelve — in has rushed [...]
No sooner had the residents of Starrett City celebrated their administrative victory : HUD said No! with HUD’s second rejection of the proposal by David Bistricer than it has now occurred to them that the devil they knew may be better than the devil to come, as reported in this highly sympathetic [...]
When, a year ago, the preservation forces were utterly unable to derail the juggernaut multi-billion dollar battle for Stuyvesant Town, I speculated that whoever followed Stuy Town would face a spectacular backlash. In that maelstrom tottered David Bistricer, whose clipper Equity group offered the astonishing sum of $1.3 billion for the 5,881 apartment complex [...]
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