Congressman Hakeem Jeffries, Brooklyn Borough President Eric Adams, Senator Roxanne Persaud and East New York District Leader, Nikki Lucas, held a press conference to create awareness about the pending sale of Starrett City, and to voice their concerns. Below see the excerpt from the Real Deal article and the press conference video.
From the Real Deal – 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 officials, the New York Times reported.
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 16 percent of the complex.)
“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.
Full Article on The Real Deal
when trump got elected everyone know this was coming
Greetings Leaders; Congressman Hakeem Jeffries, Borough President Eric Adams, Senator Roxanne Persuade and State District Leader Nikki Lucas: I appreciate you coming out as a team to inform the community and the community residents of the what if’s concerning Starrett City future and what we need to do about after the life or the end of the project’s plan expiration date of the 20-30 year period, so that we will be well prepared to protect what we have NOW. For that I say, Thank you. However, there is an ole saying, “He who holds the gold makes the rule”. In saying that, yes to knocking on every door getting your neighbor involved, yes to the making of a floor captain, yes to a tenant patrol. There’s a step further that needs to be addressed and that is owning a piece of the rock; meaning, we need to find out the stock ticket name and invest in Starrett City as well; as individuals or a group. (The other saying, “Money see, Money do”) 🙂 With that being said, if you can’t sit on the Starretts’ Board, we need to know who the Board members are and vote for the person holding our best interest. Lastly, let’s read, modify and revise the By-Laws, when necessary. The HUD Chief, might want to engage Trump in buying and agreeing to the Brooklyn Armory Prospectus for affordable housing. And when and if that happens, we again need to be ready to buy into the stock of this project as well. Just a thought!