A family estate fight between a widow and stepchildren is not unusual. However, having a dispute over the future of the largest federally subsidized housing complex in the U.S. is.
A buyer has been found for the federally subsidized housing complex Starrett City in Brooklyn. However, a family fight and the presence of the President of the U.S. has caused some delays, according to The New York Times in “The Messy Family Battle for Starrett City.”
The original developer of Starrett City passed away some time ago. The current shareholders would like to sell the complex or at least the developer’s widow, who controls most of the shares would like to do so.
An auction was held for the complex and a price agreed to. However, regulators determined that the prospective buyer was not fit.
Because President Trump has a small stake in the development, it was decided to avoid media scrutiny and approach prospective buyers who might be interested to determine if they might be deemed fit.