Trump to get millions from sale of New York housing complex

AP A NY USA Starrett City
The Associated Press

NEW YORK (AP) — President Donald Trump is set to receive tens of millions of dollars from the sale of 46 buildings in New York City that make up the nation’s largest subsidized affordable housing complex.

Trump and other owners have sold the complex, popularly known as Starrett City, to two developers for $905 million after receiving regulatory approval earlier this week. Trump’s financial disclosures last year show he owned 4 percent of the property, giving him potential proceeds of about $36 million.

House Democrats sent a letter to Trump last year protesting his ownership while he oversees a federal agency that determines the size of subsidies to the complex and would review any proposed sale.

The new owners say they worked extensively with state and federal regulators before receiving approval for the deal.

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