Tag Archives: 2018

The people have spoken, and they said no

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As The Lo-Down, Bowery Boogie, The Real Deal, and Crain’s have already reported, only 690 out of the 1,227 participants in Tuesday’s vote said yes, which is 128 short what was needed for the deal to pass.

It will be interesting to see if the developers conclude that there is no way to get a deal passed, or whether they’ll do more market research to see if there are changes to their plans (perhaps scaling them down a little?) that might turn around 128+ votes if the developers and Board go back to the negotiating table.  Given that the vote fell considerably short of the needed two-thirds, however, the developers may conclude that we will never approve any deal and simply move forward with their as-of-right construction plan (whatever it might be).

Opinion: Vote Yes on Air Rights

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Vote Yes GraphicOn June 12, Seward Park Cooperative will vote on whether or not to sell about 165,000 square feet of our unused development rights (aka “air rights”) to the developers of the Bialystoker Nursing Home and its adjacent lots for $53.7 million in cash.  After much consideration, we believe we should vote YES.

A YES vote is not without downsides. Nobody (except the developer) prefers huge buildings next door, and the buildings they can build with our air rights are significantly bigger than the buildings they could build as-of-right. Rainbow Park, where many of us spend much time with our families, will get a few less hours of direct sun at certain times of year.  And we think the East Broadway streetscape will look better if the buildings are kept smaller.

But at the end of the day, we have a choice between bigger buildings next door, or bigger bills for all of our shareholders.  We cannot justify spending tens of thousands of dollars out of each of our pockets over the coming years (and forcing many of our neighbors who already struggle to pay their bills to do the same) to keep the buildings next door smaller, when we could all save that money by accepting bigger buildings.  Despite our reservations, we will be voting YES, because we think it is the right thing to do for the co-op.

Note that two thirds of those participating in the vote must say YES for it to pass.  Voting in the Board election without casting a vote on the air rights question is an abstention, which is effectively a NO vote.  Please be sure to vote YES or NO on the air rights question.  Do not leave it blank or abstain.

Micah Arbisser, John Bellettiere, Harold Bravo, Minh Duong, Randi Halpern, Jeffrey Hillock, Linda Jones, Caroline Laskow, Brett Leitner, Terry MacAvery, Kate Nammacher, Eric Reich, Ian Rosenberg, Roshni & Jacob Sacks, Gina Sung, Alexis Tomarken, Michael Tumminia, Hilary Weissman, Lori & Paul Weissman, Jodi & Jac Zagoory

For responses to many criticisms of the deal, please click here.

2018 Seward Spark Board Endorsements

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This year’s Seward Spark endorsements again come from Micah Arbisser, who publishes the Seward Spark, and Kate Nammacher, who recently served on the Board as a director, president, and treasurer.

After reviewing the candidates’ biographies, hearing their presentations at Meet the Candidates, and reviewing the records of those who have already served, we believe the following four candidates stand out for their high levels of engagement, knowledge, optimism, and professionalism.

#1 Aaron Fineman, #4 Doron Stember, and #6 Erica Cullmann – The incumbents this year are among the most hard-working, thoughtful, effective directors in the co-op’s recent memory.  They absolutely deserve reelection. Erica, Doron, and Aaron have led us through a challenging period where they raised revenue from non shareholder sources, overhauled our budgeting process to make it more stable, expanded access to amenities, and were responsive to shareholder concerns and alternative Boardroom viewpoints.  They also toiled for 17 months to bring the best possible air rights deal to a shareholder vote, while presenting detailed and balanced information about the deal.

#2 Sidney Goudie – From Sid’s first days in Seward Park, he has demonstrated a deep commitment to our community.  Sid is well known for his friendly presence in the E section, and can often be found engaging neighbors with questions about our collective home in an effort to understand the issues from all perspectives.  He is someone who can naturally find common ground on the most pressing matters facing our co-op. Sid also has a strong finance background and focuses on long-term preservation of capital. He wants to apply his financial expertise to the co-op’s budgeting and fiscal management strategies and would be an extremely valuable Board member.

Whether or not you agree that these candidates are the best, please exercise your shareholder right to vote!

Your neighbors,

Micah Arbisser
Seward Spark Publisher

Kate Nammacher
Former SPC Director, President and Treasurer