Fair sailing lies ahead for the troubled South Street Seaport Museum under a deal that will force execs to walk the plank but save downtown's tall ships, according to an article by Bill Sanderson in yesterday's edition of The New York Post.
Sources said that the museum has been ordered by Attorney General Eric Schneiderman to scuttle plans to send its working ships out of the city for storage, the article said, adding that "the museum is in talks with representatives of Mayor Bloomberg on a plan to replace its board and oust its president, Mary Pelzer."
"A real-estate deal involving museum property will bring in several million dollars to repay loans made to the museum by current board members, and put its finances back on course," the article continued, adding that a museum spokesman said Saturday that it "has been involved in ongoing conversations with the city to develop a transition strategy that includes a plan for financial sustainability and new leadership."
The article said that "Peter Stanford, who founded the museum in the late 1960s and has led a group seeking to save the ships and the museum, said details are still being worked out, but the deal is expected to leave the museum with enough cash 'to get things up and running.'"
Sources said that the museum has been ordered by Attorney General Eric Schneiderman to scuttle plans to send its working ships out of the city for storage, the article said, adding that "the museum is in talks with representatives of Mayor Bloomberg on a plan to replace its board and oust its president, Mary Pelzer."
"A real-estate deal involving museum property will bring in several million dollars to repay loans made to the museum by current board members, and put its finances back on course," the article continued, adding that a museum spokesman said Saturday that it "has been involved in ongoing conversations with the city to develop a transition strategy that includes a plan for financial sustainability and new leadership."
The article said that "Peter Stanford, who founded the museum in the late 1960s and has led a group seeking to save the ships and the museum, said details are still being worked out, but the deal is expected to leave the museum with enough cash 'to get things up and running.'"
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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