Showing posts with label real estate harvesting. Show all posts
Showing posts with label real estate harvesting. Show all posts

Sunday, August 12, 2012

Mike Bloomberg aka Robert Moses

The Sexton Plan for NYU represents a new low in "urban decay."

That which Robert Moses was not able to do to Lower Manhattan (demolishing the special social fabric of neighborhoods to construct a cross-borough highway), Christine Quinn will do (demolishing the special social fabric of neighborhoods to let NYU carry out this reckless expansion plan). Jane Jacobs advocated for that special "secret sauce" to successful large cities, whereas Mike Bloomberg, John Sexton, and Christine Quinn call for more indiscriminate zone-busting urban development.

Wednesday, September 21, 2011

Jeffrey Kraut North Shore-LIJ

After William Rudin's giant scheme to take over St. Vincent's Hospital real estate properties has triggered an investigation by prosecutors, the Rudin Family went to great lengths to make sure that its luxury condominium conversion plan would be fast-tracked, pulling out all the stops.

But new information came to light this week : one top official of the North Shore-LIJ hospital system, Jeffrey Kraut, is chair of the committee, which will recommend or deny North Shore-LIJ's application for a Department of Health license to operate a controversial stand-alone Emergency Department.

The so-called ''Emergency Department'' is a consolation prize to the community of the Lower West Side of Manhattan after the loss of a full-service hospital and Level 1 trauma center when St. Vincent's Hospital closed on April 30, 2010. Thus far, Mr. Kraut's actions has not been referred to the Attorney General's office, which oversees the ethics of the State's executive agencies, such as the Department of Health.

Mr. Kraut's conflict of interest in having influence over his own company's financial contracts and government licenses provide fresh evidence about the lack of integrity in the Rudin condo version plan.

In order to build its luxury condos, the Rudin Family encouraged North Shore-LIJ's application for the stand-alone Emergency Department. Because the Rudin condo conversion plan depends on the approval of North Shore-LIJ's application before the Department of Health, community members question Mr. Kraut's influence on other members of the Committee on Establishment and Project Review Meeting and Public Hearing, which will determine the outcome of North Shore-LIJ's permit application.

The information about Mr. Kraut's conflict of interest is another negative blight on the Rudin Family, who have also tried astroturfing, lobbying, and distribution of propaganda by mail. The Rudin Family has also been criticised for opposing freedom of information requests that might be useful in investigations.

Separately, the Department of Health has been criticised for its inaction in saving other hospitals from closure, and for the absence of any investigation or prosecution of individuals, who were involved in the hospital closure crisis. In the time that Christine Quinn has been Speaker of the New York City Council, at least eight city hospitals have closed. In 2010, North General Hospital in Harlem declared bankruptcy and St. Vincent's Hospital in the West Village shut down after shady backroom meetings. In 2009, two hospitals in Queens – St. John's Queens Hospital in Elmhurst and Mary Immaculate Hospital in Jamaica – went bankrupt. In 2008, Cabrini Medical Center in Manhattan, Parkway Hospital in Queens, and Victory Memorial Hospital in Bay Ridge closed. And in 2007, St. Vincent's Midtown in Manhattan was closed. Separately, one other hospital in Brooklyn, Long Island College Hospital, was recently saved : it had been on the brink of closing, and the only way the hospital was saved was by merging it with SUNY Downstate. (And all this is not counting the bankruptcy filing made by Peninsula Hospital Center of Queens.)

Sunday, August 21, 2011

St. Vincent's Rudin Inquest

Manhattan District Attorney is investigating St. Vincent's ''go-for-broke plan'' that has supposedly enriched the Rudin Managedment Company, which has been waiting in the wings for the hospital to flatline.


St. Vincent's Hospital is under investigation by the Manhattan DA's office for allegations that the Rudin Management Company has been planning a real estate harvesting/luxury condo conversion plan of the shuttered hospital.

St. Vincent's closed on April 30, 2010, after it laid off many of its employees. Many employees later learned that the hospital was not paying into the state's unemployment fund, so those who were laid off were not eligible for unemployment benefits.

Ever since it closed, the impacted community of the Lower West Side of Manhattan has been calling for investigations into what lead to the hospital's sudden closure. The hospital failed to file a closure plan, as it was required to do, with the New York State Department of Health.

From an article in The New York Post :

Going broke allowed the hospital to get an OK from the state Health Department to sell to the Rudin family, which is building luxury housing on the site. Without bankruptcy, state officials would not have been permitted the hospital to shut down, the sources said.

"This was a well-thought-out plan," said Tom Shanahan, a lawyer for a group of former St. Vincent doctors and nurses suing St. Vincent's. "They wanted out and had to justify it to the state. They were running it into the ground."

DA Cy Vance's team is looking into whether vendors double-billed for services, gave kickbacks for contracts and hired relatives of hospital employees, sources said.

Monday, July 4, 2011

William Rudin St. Vincent's Hospital

Community Activist Yetta Kurland presented a stack of over 7,500 signatures on a petition to a representative of the Rudin development family. The petition demands that the Rudin Family must be blocked from undertaking a luxury condominium conversion of the former site of St. Vincent's Hospital. In her presentation, Ms. Kurland explained the history of a prior deal that gave the Rudin Family use of a hardship exemption, but, which Ms. Kurland said, no longer applies. As William Rudin salivates over the condo conversion deal, Jane Jacobs is turning in her grave.

Monday, March 7, 2011

Without A Proxy, The Rudin Family Is Harvesting St. Vincent's Remains

Rudin Interview on New York Real Estate Harvesting From Bankrupt Hospitals.

William Rudin, chief executive officer at Rudin Management Co., talks about New York City's real estate and the outlook for commercial property, including the millions the family stands to make from the carcass picking of the real estate property of St. Vincent's Hospital. Watch at 5:40.

To add insult to injury, naturally this interview was broadcast on Bloomberg Opinion, in keeping with Mayor Michael Bloomberg's worldview of starving the beast until it dies in the back of an ambulance, stuck in crosstown traffic.