Latest real estate news in Manhattan:
Eva Moskowitz’s Success Academy charter chain bought a condo on the far west side of Manhattan for $67.7 million.
A few years back, Eva’s billionaire allies successfully lobbied the legislature to secure free rent for her schools and free rein to expand, pushing out other kids and programs, even those serving the severely disabled.
Diane Ravitch's blog 
Reblogged this on David R. Taylor-Thoughts on Education and commented:
WOW!…Almost $70 million for a condo. What could that $70 million buy for schools that need it.
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Taxpayers should be eligible for a sleep over. After all, their money paid for it.
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Where is the outrage!!! How is this bastard allowed to purchase this insanely amount of money “condo” and then take money from our NYC kids!!!!! Diane, where is the outrage!!! When are the people going to stand up!! Are people in education this weak….This cannot happen and at the same time Bill Diblasio is paying for the rent of all their schools!!!!!!! Moskowitch needs to be dealt with as she is taking the people and the city for a ride you bastard…….
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Agreed. I’m beyond outraged, at this point.
I think some (some) of what’s going on is just that there are so MANY outrageous things going on that this one’s going to just kinda “slip through the cracks”.
But, then again; the fact is that this kind of in your face garbage has been going on for almost two decades, now. Nobody in the mainstream media has seen fit to make any noise about it.
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For context, it’s commercial space, not residential. 90,000 square feet.
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I know I shouldn’t be shocked at her chutzpah, but like Donald Trump, it never ceases to amaze me what she does and seems to get away with.
This seems to be smack in the middle of Manhattan at 10th Ave in the 40s. Presumably it is to be a school. But why would she locate a school that is most convenient to her richest students in District 2 and Upper West instead of one convenient to where most of the at-risk kids live? Why am I even asking that question of the woman who shipped the kids from the richest elementary school out of district so they were far away from her 2 low-income schools in the same district?
The real estate in the outer boroughs is far less expensive if she wants to build a school. But if it isn’t in an acceptable Manhattan location, no doubt she worries the rich parents she covets won’t send their kids.
Let’s see, spend your money to serve half the kids but a greater number are rich, or spend your money to serve more kids who are poor? When it comes to Success Academy, the answer seems to be “buy the expensive real estate near the rich families because the poor kids are more than willing to travel long distances as they have few other choices”. And if you are in it for the money and not the kids, that’s a good way of thinking. Businessman Donald Trump would be proud.
But I sure wish this would get her to stop claiming she needs to take resources directly from the schools that serve the most disadvantaged kid she refuses to teach. But no doubt she will be demanding more and more tomorrow, like any spoiled toddler who has been enabled by bad parenting does. Until people start saying No to her, this will continue.
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Purchased from the real estate developer that’s bringing this work of satanic architecture to NYC.
http://ny.curbed.com/2016/8/11/12443130/central-park-tower-nyc-sales-update
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Its looks like she’s going to turn this huge space into a charter school for the rich and famous.
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The rich and famous should pay their own bills, and not have taxpayers underwrite their projects while they destroy the public schools most students attend.
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A Trump Empire Built on Inside Connections and $885 Million in Tax Breaks
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Oh, Lloyd, I’m sure that she will accept some poor kids, as long as they and their families can handle the much longer trip to the school.
And as long as they are “easy to teach,” they can stay. But if any of them become problems in any way, they will be “counseled out” or suspended over and over again until their families pull them from the school. That’s the way Moskowitz works.
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Yes, Eva has targeted Hudson Yards, a new development on the West Side with 20,000 residential units planned with NO school. The greatest number of applicants to Success Academy come from the South Bronx, which comprises part of the poorest Congressional Districts in the US, yet Eva’s target audience is those who can afford the type of residence pictured in the following web site. It couldn’t be any more disgusting.
http://www.hudsonyardsnewyork.com/
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And once this generation has lived with the world Eva and the other psychopaths in the corporate education industry are building with bribery and fraud, they will have no clue what was lost. That twisted education world will be all their children will ever know. It will be the new norm once it is established and the traditional public schools have been swept into the dustbin of history.
It’s obvious that is the long term goal. Not to improve the schools but to control them for whatever long term goals they really have: for profit, for thought control, for consumer conditioning?
They are counting on the fact that in three generations, the community based, democratic, transparent, non-profit, traditional public schools that were the foundation that made the United States the wealthiest and most powerful nation on the planet, will be a memory, and only history if they allow that information in the history books of the future.
Everything becomes relative and the past is revised to become what it never was.
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I’ve been thinking the same, Lloyd, and I’m sad to say that I’m beginning to see it in our everyday lives, now.
We’re approaching 2 decades of massive assault on the part of the corporate reformers. They’ve owned and used the media all too effectively to advance their cause. It used to be that people would ask me about what I thought about charter schools and vouchers. They’d be interested and want to talk about the CCSS. If I posted a link to one of Diane’s or Mercedes’ posts on Facebook, people would engage in conversation and either “Like” the post or at least argue the content.
My most recent post was a grassroots circular to just “Like and Share” if you appreciate and support your public school. I got one “Like”.
Personally, I find the Facebook thing to be a little childish…but it can be effective, as could be seen in the horrific presidential “race” we just witnessed.
Back in the ’70s/’80s I would try to talk to people about the Greenhouse Effect and holes in the ozone layer. I was “Chicken Little” at that time and I’m starting to feel the same now, except with a more than a few added years. It’s almost as though education’s a done deal and old news.
I really don’t like talking this way, but it’s what I’m seeing. The incoming Trump administration is creating such a stir that I’m concerned the resistance to education reform will weaken simply because it’s not as immediate a concern as others.
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Eva had this kind of money to buy this Ine building? Why isn’t she buying several buildings for her schools instead of trying to take more space from the public schools she has invaded? Grrrr!
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If she gets free buildings, then her profit margin is much higher.
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The money came from Julian Robertson, yet another old, rich white guy who doesn’t care about the public good.
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In a speech that is supposedly ABOUT how John King is an “agnostic” on public v charter, the only schools that are mentioned as successful are charter schools:
http://www.ed.gov/news/speeches/education-leadership-and-equity-look-forward
They must read these speeches and articles, right? No one ever says “my, this doesn’t sound at all agnostic” ?
In the entire United States no ed reformer can find a single middle or lower income public school that is successful?
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When Cory Booker was asked about DeVos’ appointment, he said, “I’ve got nothing.” In other words, no comment!
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“I’ve got nothing.”
That sounds like an accurate description of what he offers the people of New Jersey and the US.
He’s got plenty when it comes to defending Wall Street and edu-preneurs, though.
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This sort of reminds me of Jim and Tammie Faye Baker; they are using funds in a way that is so decadent that it completely flouts the intention of the people who gave her the money. In the case of the Bakers, the source of the funding was the people who believed in Evangelical missionary work, and in the case of Moskowitz it was the Board of Education (taxpayers), who thought it would go for student education.
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Is this one of those real estate deals that provide amazing tax breaks because the investor is helping a charter school? Is Eva going to rent the space? Is she required to use part of it for Success Academy for the huge tax breaks to be activated? Someone must know the answers to the many questions such a deal raises.
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I’ll be surprised if we find those answers. Accountability only applies to the “little people”, John. Starting with Trump. Eva’s part of the club.
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I agree that Eva, Trump, and Betsy DeVos all seem to have a lot in common. However, I don’t think it is that difficult to find out how these real estate deals involving charter schools are structured. I have read articles about Pennsylvania where the investors use public money to build a charter school and then end up owning the building. They often run the school and control its budget too.
But the focus right now is the tax provisions of Eva’s purchase of a $59 million condo — they are part of the public record — that confers great benefits on investors who put money into charter schools and charter organizations. Maybe a lawyer who reads Diane’s blog could shed some light on this.
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And, charter school debt returns 10-18% to Wall Street.
Gov. 1%, Cuomo – Charter schools (it’s for the kids!)
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Wish I would have known this a few weeks back when I went to see ol’ Eva at St. Louis University. I doubt though they would have selected my question, but then I might have been escorted out of the building by demanding an answer.
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Please explain to me again why taxpayers are funding Success Academies.
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Because Cuomo was told he decided he wanted it.
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LOL gitapik!
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Giving Eva Moskowitz free space in public schools is akin to requiring the US Post office to provide free warehouse space to UPS… And the Times article in a throwaway line described Success Academy as “high performing”… and the millions spent on advertising by “carter school advocates”… where does that come from???
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Good post Wayne!
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Bottom line. New York voters aren’t as smart as Massachusetts voters. New York voters have I.Q. and ignorance levels similar to Ohio and Michigan voters.
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Speaking of NY Voters, let’s do what we can to educate as many as possible about Cuomo’s call for a state constitutional assembly next November. The following are excerpts from an email from my chapter leader. It’s long but very important. His upshot is that we should all seriously consider upping our COPE contribution so that we can counter the propaganda blitz that is sure to come as we near the date:
“On November 7, 2017, municipal elections will be held throughout the state. Here in the city, we’ll be voting for Mayor, City Council members, Borough Presidents, and on statewide ballot questions. Among those questions – as automatically happens every 20 years in NY State – will be the question of whether, or not, to convene a state constitutional convention. Politicians, pundits, and editorial boards throughout the state, will endorse the idea as necessary to “end corruption in Albany”. This is a red herring people! A GIANT red herring! Andrew Cuomo and our state legislators have purposely stalled in cleaning their own house through legislation for years. Cuomo has been waiting seven years for this, and now, in the name of good government, he and his hedge fund billionaire buddies will be coming after your pensions (and perhaps your parent’s pensions, and maybe your children’s pensions as well).
“… membership in any pension or retirement system of the state or of a civil division thereof shall be a contractual relationship, the benefits of which shall not be diminished or impaired.” [emphasis added]
Those emphasized words mean that our state and municipal leaders are legally required to uphold their pension obligations. It means that they cannot raid our pension funds to cover their budget short-falls, or pay for their legislative agendas, or line the pockets of their pro-charter-school, billionaire donors. It means that our pensions cannot be slashed, burned, or unfunded (like they have been in Illinois, Rhode Island, and New Jersey, to name a few).
Get the word out! Every single one of us must vote NO on the constitutional convention question next November, and we must make sure all our co-workers, and parents, and children, and friends, are aware that they should vote NO also, because once a constitutional convention is open, everything will be on the table. And I mean everything. Some of our constitutionally guaranteed freedoms and protections at risk of alteration or elimination include:
Next November is a long way off but if we’re going to get the word out, the time to start (and continue) is now.
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Thanks Linda, You wrote that charter school debt returns 10-18% to Wall Street investors. Do you know the name of the law that permits this. 10-18% return on investment when the average person would be lucky to get 1 to 2% should be illegal. And I’ll bet that we, the taxpayers, are picking up the tab.
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John Fager,
The New Markets Tax Credit is one source of profit for investors.
The biggest returns for charter operators are in real estate. They buy a building, then lease it to themselves, and charge themselves exorbitant rent, which is paid by the state. That is a source of millions in profit.
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There is no law that permits it. The market deems the interest on the debt to be worth 10-18%. Technically, Wall Street is the creditor for the debt, not an investor. The taxpayers pay all charter costs, including interest, unless the rich pick up the tab temporarily to make charters look good. Then, when the system’s completely privatized, the rich will abandon their “charitable” funding.
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As a NYC resident, I take issue with your statement that we aren’t as smart as Massachusetts voters, when we’ve never been given the opportunity to vote on whether we wanted charter schools. As Diane has noted, “reformers” know that charter referendums can lose, so instead they focus on buying off politicians. They bought Governor Cuomo.
We have been successful, no pun intended, a localized level, where dark money can’t have an impact. In D2 and D3 in Manhattan a coalition of community activists and public school parents prevented Eva Moskowitz from opening new schools in these districts. That is why she had to buy property in D2, because she wasn’t going to get any more public school space from the City there. Success Academy has also appeared to move its parasitic sights over to Brooklyn, because presumably there is less political opposition there. The D2 and D3 families are more educated and more affluent.
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I live in Brooklyn. We never had the opportunity to vote against Eva opening schools in relatively affluent communities. I asked the principal of a beautiful public school why any parent would choose a charter over her excellent school and she answered: smaller class size
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The D2 and D3 families are more educated and more affluent.
This may be, but in many areas of Brooklyn we did fight Eva…parents, residents and local politians…of all educational and economic levels. I could tell you stories of Eva walking out of community info sessions when the
questions became too hard and she left the community to her little henchman
Jenny Sedlis. Our schools had room
according to the DOE and Eva was forced on us. We have video of the fights our communities put up. Whatever Evacwants, Eva gets in due time.
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What about the law that Diane just mentioned, the New Markets Tax Credit? I remember reading an article about a Pennsylvania charter school where public money was used to build it but the charter management organization (CMO) ended up owning it. 10-18% interest suggests a very risky investment. Where is the risk when you’re talking about Success Academy that took in $25 million, from one of the many hedge funders that support it, at their last annual fundraiser? If Wall Street is the creditor wouldn’t it be possible that the New Markets Tax Credit comes into play? When you say, “taxpayers pay all charter costs, including interest,” what is your source for that statement? I know taxpayers pay an annual stipend for every student, and get free use of pubic buildings or pay some of the rent on private space but I have not heard about paying interest costs. By the way, Linda and now Diane, I really appreciate the time you are taking to educate me on this issue that I have been vaguely aware of. It seems to be a much bigger problem in other states.
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John, look up the recent paper by Bruce Baker on the economic consequences of charters for public schools, in which he explains how they profit.
I don’t recall if he goes into NMTC, but Juan Gonzalez exposed that a few years back.
Also, foreigners can get green cards if they invest large sums in charters.
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Thanks Diane, I will. Bruce Baker at Rutgers is like you and Leonie, on top of so many issues. I remember reading a report of his that concluded the corporate “reforms” we have implemented do not meet the needs of many of our students. I read something more recently and filed it away; right now I can’t remember the topic but I’m sure when I google him about the NMTC it will come up.
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John Fager,
This link will take you to Bruce Baker’s latest paper on charters and their effects on public schools:
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Thanks for the link; I am printing the report right now. Have a good weekend. I enjoyed your celebration dinner and learned from the program that we have four personal things in common. Some are minor coincidences but two are deep. Next time I see you I tell you what they are. Happy Holidays, John
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You referring to the $25 million Robertson donated at the last fundraiser? Or is this new money?
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