HUD Piles On Starrett City Owners UPDATE: Hillary Joins the Fray!

Did those poor (rich) guys at Clipper Equity know what they were getting themselves into? Even George W. Bush is piling on. The press office for U.S. Secretary of Housing and Urban Development Alphonso Jackson is e-mailing the following statement on Starrett City:

“This transaction has the potential to threaten New York City’s low-income housing market and those who need it. Starrett City is more than a piece of land–it is a community. As secretary of Housing and Urban Development, I will aggressively review this sale and give it close scrutiny.”

UPDATE: A little after 8 p.m. on Monday, Sen. Hillary Clinton’s office emailed The Real Estate that New York’s junior Senator also wanted an aggressive HUD review of the Starrett City sale:

“HUD has a responsibility to approve or disapprove of the transfer of property like this… I remain extremely concerned that the outcome of this sale will be increased rents, forcing many people out of their homes.”

Matthew Schuerman