iStar money and the Superblock

Just a little perspective on iStar, proposed Superblock builder. According to their web site, they've made "approximately $35 billion of completed financing transactions" since their formation in 1993. This year's Nassau County budget was appx $2.8 Billion. So I'd estimate that iStar has handled more money than the entire Nassau County government has in the same period. iStar's 2012 Annual report says their "current portfolio" is $6.1 Billion. It also states -

"Our residential operating assets consist of luxury condominium projects across the U.S. Our strategy has been to complete unfinished developments, reposition and reintroduce the assets to the market, with a goal of selling out the projects at significantly improved economics."

I think since the City "settled" on the rights, iStar can call the shots. The only reason I hope they will compromise on the scope of the towers is that it would serve them as good P.R. Us screamers might be a tiny little smidgen of bad P.R. Of course the Superblock should be developed, but putting both the financing and building in the hands of this one company concentrates an awful lot of power. Luckily, iStar is in the business of making money, so I doubt their project will flop. But of course the problems about LB infrastructure, etc will not concern their bottom line. Neither will the nature of the tenants, as long as the rent is paid. Neither will the effect on the neighbors, the water table, the shadows etc etc etc. Hopefully, somebody in some level of government will have the spine to enforce the codes that are already on the books.

Information from http://www.istarfinancial.com/

Feel free to re-post this info on other boards or check it out for yourself.