The sale of Starrett City, a 5,881-unit affordable housing complex in Brooklyn, N.Y., is taking longer than expected.

A memorandum of understanding between owner Starrett City Associates and federal, state, and city agencies that laid out a framework to maintain affordability at Starrett was extended indefinitely on Friday as it was about to expire.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.