640 Riverside Drive

Do not play the lottery to buy an apartement in this building.

You’re not purchasing equity—you’re inheriting debt.

UHAB is drowning in over $80 million of debt, and no amount of maintenance fees will cover it. To understand how dire the situation is, check their website at https://640rsd.org.

The nightmare unfolding at 936-938 St. Nicholas Avenue is a grim preview of what awaits 640 Riverside Drive. Read more here: https://pix11.com/news/local-news/co-op-owners-say-they-may-be-forced-from-homes-due-to-loan-mismanagement-by-third-party/

For deeper insights, contact theo@showthebooks.org, or visit https://showthebooks.org.

Also, review the offering plan for our sister building, 644 Riverside Drive, to grasp the scale of the crisis: https://640rsd.new-york.ny.us/644Docs/644-Conversion_Redacted.pdf

In thirty years, Park Towers HDFC faces a $22.2 million balloon payment. The HDFC is not guaranteed an extension from HPD when the loan matures.

HDFCs across the neighborhood have collapsed under similar balloon payments.

Some of us have already sounded alarms with the Department of Justice, the Manhattan District Attorney, and the New York State Attorney General—yet no one has flagged any wrongdoing.

For more details you can read the Medium story: https://theochino.medium.com/why-i-am-going-after-cory-booker-girlfriend-d6bf8ee8a6e3