Status: Closed — this petition is no longer accepting signatures.
Final supporters
Dear Seward Park Board of Directors:
We are a group of shareholders in formation that we hope will reach an overwhelming majority, who are voicing concern over the expected construction adjacent to the former Bialystoker home, the site that the Ascend Group (Ascend Group had rebranded to Round Square Development) and Optimum Partners owns; without the purchase of Seward Park Housing Corporation’s air rights, as anticipated by us.
We were warned by the developer in all of their initial promotional material to us that that we would have to endure years of noise, loss of our views, shadows on our public space, parks and buildings, snarled traffic, trash and other matters related to major construction. Now, it will happen without the expected sale of our air rights to Ascend, paying us millions of dollars in consideration.
Ascend’s properties are the only receiving sites for Seward Park Housing Corporation’s Air Rights, unless we sell our own land in the park areas, the 465 Grand Office building or the existing retail spaces, which we do not want to do. We want to sell the developer our air rights because it is the last and only opportunity we will have to sell these air rights.
This is the last chance we have to gain millions of dollars from an air rights sale, and we demand that our Board uses every effort in its power immediately to demand that Ascend/Optimum work with us to buy our air rights, or we want to stop this development and enable a different developer to come in who will work with us to buy our air rights.
On January 29th, 2019, the Board of Directors took out a $40 million mortgage and raised our carrying charges because we did not choose to accept the $52 million dollars that Optimum was willing to pay. We cannot afford to continue making that mistake. The mortgage has no prepayment penalty, as they were anticipating this sale and paying down the debt.
We hereby petition our Board of Directors help us act to move this forward:
Thank you
Our committee in formation has already met and our names will be posted shortly.
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Updates
April 3, 2019
Seeing this much support for our position feels heavy but deeply necessary. It is exhausting to keep fighting for what we are owed but I am not going to step away now.
40 Comments
Sounds like Brexit. There was already one petition, and the developer had no interest. The developer can now do what they please, and frankly, I don't blame them for no longer wanting to work with the dysfunctional group that is Seward Park. I voted FOR the sale and believe it was a wasted opportunity, a huge one at that.
Please let this sale go through. We are in FULL SUPPORT. Our buildings, our home - NEEDS the money and the FAR OVERDUE upgrades. If we don't accept - we will end up paying for it. Plus - They will build anyway!!! This is the best deal as well as smartest decision to sell our air rights and accept the offer!!!
Any thoughts of us partnering with a developer to develop our commercial property? Finefare and citibank can sure use a facelift. Maybe build a 2-3 story commercial building, we can attract multiple tenants and increase revenue while using our own air rights rather than sell them off.
A deal, Give us back our parking spaces, And the Air Rights resolution will pass, You Can't have both.
Residents of Seward Park are throwing away a once in a lifetime opportunity to shore up our finances and beautify our lobbies and other areas. This opportunity will NOT come again. Yet, continued development in and around our community for which we will have no say will continue unabated. Do the smart thing.
Ha Ha, Long after the old timers are gone, The newbies will be in financial debt forever, Thankfully the vote failed.
I voted to approve the sale and like to hope their is still an opportunity for the sale, But deep down I always knew the sale would not go through and that the garage conversion would have far reaching consequences for years to come.
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Status: Closed — this petition is no longer accepting signatures.
Final supporters
Dear Seward Park Board of Directors:
We are a group of shareholders in formation that we hope will reach an overwhelming majority, who are voicing concern over the expected construction adjacent to the former Bialystoker home, the site that the Ascend Group (Ascend Group had rebranded to Round Square Development) and Optimum Partners owns; without the purchase of Seward Park Housing Corporation’s air rights, as anticipated by us.
We were warned by the developer in all of their initial promotional material to us that that we would have to endure years of noise, loss of our views, shadows on our public space, parks and buildings, snarled traffic, trash and other matters related to major construction. Now, it will happen without the expected sale of our air rights to Ascend, paying us millions of dollars in consideration.
Ascend’s properties are the only receiving sites for Seward Park Housing Corporation’s Air Rights, unless we sell our own land in the park areas, the 465 Grand Office building or the existing retail spaces, which we do not want to do. We want to sell the developer our air rights because it is the last and only opportunity we will have to sell these air rights.
This is the last chance we have to gain millions of dollars from an air rights sale, and we demand that our Board uses every effort in its power immediately to demand that Ascend/Optimum work with us to buy our air rights, or we want to stop this development and enable a different developer to come in who will work with us to buy our air rights.
On January 29th, 2019, the Board of Directors took out a $40 million mortgage and raised our carrying charges because we did not choose to accept the $52 million dollars that Optimum was willing to pay. We cannot afford to continue making that mistake. The mortgage has no prepayment penalty, as they were anticipating this sale and paying down the debt.
We hereby petition our Board of Directors help us act to move this forward:
Thank you
Our committee in formation has already met and our names will be posted shortly.
Updates
April 3, 2019
Seeing this much support for our position feels heavy but deeply necessary. It is exhausting to keep fighting for what we are owed but I am not going to step away now.
40 Comments
It is a unique opportunity to sell Air Rights. Let us have an Intellectual discussion with Share Holders who have Concerns. I am Optimistic We can bring Almost Everybody on Board. I am willing to participate in the discussion and I am certain we can convince the Nay sayers if we patiently explain while Listening to their Logic. Dr. Ravi
Sounds like Brexit. There was already one petition, and the developer had no interest. The developer can now do what they please, and frankly, I don't blame them for no longer wanting to work with the dysfunctional group that is Seward Park. I voted FOR the sale and believe it was a wasted opportunity, a huge one at that.
Please let this sale go through. We are in FULL SUPPORT. Our buildings, our home - NEEDS the money and the FAR OVERDUE upgrades. If we don't accept - we will end up paying for it. Plus - They will build anyway!!! This is the best deal as well as smartest decision to sell our air rights and accept the offer!!!
Any thoughts of us partnering with a developer to develop our commercial property? Finefare and citibank can sure use a facelift. Maybe build a 2-3 story commercial building, we can attract multiple tenants and increase revenue while using our own air rights rather than sell them off.
A deal, Give us back our parking spaces, And the Air Rights resolution will pass, You Can't have both.
Residents of Seward Park are throwing away a once in a lifetime opportunity to shore up our finances and beautify our lobbies and other areas. This opportunity will NOT come again. Yet, continued development in and around our community for which we will have no say will continue unabated. Do the smart thing.
Ha Ha, Long after the old timers are gone, The newbies will be in financial debt forever, Thankfully the vote failed.
I voted to approve the sale and like to hope their is still an opportunity for the sale, But deep down I always knew the sale would not go through and that the garage conversion would have far reaching consequences for years to come.
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It is a unique opportunity to sell Air Rights. Let us have an Intellectual discussion with Share Holders who have Concerns. I am Optimistic We can bring Almost Everybody on Board. I am willing to participate in the discussion and I am certain we can convince the Nay sayers if we patiently explain while Listening to their Logic. Dr. Ravi