Seward Park Co-op Pushes $46.5M Air Rights Sale for Two Large Condo Towers on East Broadway

Posted on: March 29th, 2017 at 5:07 am by

232eastbroadway-painted

Get ready for more…

The Seward Park Co-op might soon be accomplice to large-scale development in its backyard. Shareholders in the complex are one vote away from selling $46.5 million in air rights to developer Ascend Group for two large scale towers on East Broadway. Something big will happen here regardless of the final tally, though.

Back in November, the Ascend Group purchased the Bialystoker Home for the Aged and the properties next door for a combined $47.5 million. Shortly thereafter, news leaked that the firm planned two new towers that would flank the landmark building (and the Jewish Heritage mural was summarily erased). The roughly 155K square-feet of unused development rights from the housing complex would go toward erecting a 19-story tower on the west side of 232 East Broadway and and a 31-story tower on the east side, according to a referendum the co-op board sent to shareholders.

The vote is set for late May or early June. If it doesn’t pass – two-thirds of shareholders must vote in favor for it to pass – the referendum states that Ascend will instead drop a 26-story condo.

bialystoker-home-sign

Recent Stories

He Said, She Said: A Two-City Concert Review of Operators

Some musicians are serial frontmen. Count John Boeckner in that category. He currently fronts Operators, but is known for stints in both Wolf Parade and Handsome Furs. We caught Operators in both Boston and on the Bowery for our latest “He Said, She Said” segment. Show Location Elie: Bowery Ballroom, Lower East Side Holly: Great […]

Marshal Seizes Lafayette Street Restaurant of Rome’s Top Pizza Maker

All that hype; all for naught. Famed Italian pizzaiolo Stefano Callegari – inventor of the Trapizzino street food – netted plenty of headlines last December when he opened La Rossa on Lafayette Street. The traditional Roman restaurant was his first New York City venture, and garnered accolades out of the gate. Seven months later, though, […]

DOT is Out of Touch with Chinatown ‘Gateway’ Art Installation [OP-ED]

From Dogman to the new Gateway, the city and its chosen artists don’t seem to get Chinatown. The DOT unveiled the “Gateways to Chinatown” design last week to a stunned audience at the transportation subcommittee meeting of Community Board 3. The proposed marker, to be installed in the triangle at the confluence of Canal, Baxter, […]

That Garbage Fire Burning on Orchard Street [VIDEO]

Nothing to see here. Just a casual daytime garbage fire burning on a hot summer afternoon outside the Irving Farm coffee shop on Orchard Street. Boogie reader Alaric DeArment snapped a short video clip of the blaze, which shows the nonchalant attitude of those passing the vicinity. (Perhaps this is a statement on goods made in the […]

The Faux Rag & Bone Video Store Ad Mural

With hipsters and millennials fiending for analog media like vinyl and cassette tapes, it wouldn’t be all that surprising if VHS movies were to stage a comeback as well. But no, there’s not actually a “video store coming soon” here. It’s Matt Starr’s contribution to the Rag & Bone mural wall on Elizabeth and Houston […]