Exterior of apartment complex The 5,881-unit Starrett City complex, also known as Spring Creek Towers.

NEW YORK CITY—The nation’s largest federally subsidized housing development is changing hands, according to published reports Wednesday. Bloomberg Business and the New York Times reported that Starrett City Associates (SCA), the group that owns the 5,881-unit apartment complex in Brooklyn, is under contract to sell the property, also known as Spring Creek Towers, to a partnership of Brooksville Co. and Rockpoint Group for $850 million.