Seward Park Cooperative

What Seward Park Cooperative does

Seward Park Cooperative is a residential housing cooperative located at 413 Grand Street on Manhattan's Lower East Side, comprising four 20-story buildings with three towers in each building, constructed beginning in 1959 under the sponsorship of the United Housing Foundation. The cooperative was originally established as a limited-equity affordable housing project, but in 1995 shareholders approved a Plan of Reconstitution converting it to full-equity status, with price ceilings gradually lifted over five years until market rates were achieved. The property is professionally managed by OrsidNY under General Manager Steven Berisha and Assistant GM Cynthia Guarineri.

The cooperative's operations span residential apartment share sales at market rates, recurring monthly maintenance fees from shareholders, and leasing of over 20 commercial storefronts to tenants including ArtFashion, Apple Bank for Savings, Citibank, Doughnut Plant, Kossar's Bialys, and Pizza Casa Inc. Residents benefit from an extensive amenity package: 442 parking spots, 357 storage rooms and bins, 211 bicycle spots with air compressors, two outdoor playgrounds, fitness facilities, community rooms, a vegetable garden, and an online resident portal for management communication. The buildings feature historic murals by Hugo Gellert in every lobby and are architecturally angled to Manhattan's grid to preserve green space and maximize light.

The business model is a classic cooperative housing structure: shareholders collectively own the corporation and purchase shares to occupy units, generating recurring maintenance revenue and one-time share transfer fees, while commercial storefront rentals provide a diversified secondary income stream. Distribution is direct via share purchases for residential units and direct leases for commercial space. The cooperative has expanded its ecosystem over time through partnerships with Connect by Hertz, ZipCar, and MyBuilding.org, and operates the Hester Street Fair as a community event. It is not a venture-backed or publicly traded entity; financial information is not publicly disclosed.

Name

Seward Park Cooperative

Legal name

Seward Park Cooperative

Website

https://sewardparkcoop.com

Company type

Private

Founded year

1959

Operating status

Operating

Headcount range

11–50 employees

Short description

Seward Park Cooperative is a Manhattan Lower East Side residential housing cooperative founded in 1959, operating four 20-story buildings for shareholder-residents and commercial tenants. It generates revenue through share sales, monthly maintenance fees, and commercial storefront rentals.

Ownership category

akta.pro rank

Product category

Residential Cooperative Housing

SIC

Operators Of Apartment Buildings (6513)

akta.pro primary industry

Cooperative (Co-op) Housing Association Management (BPAJAHAC)

Keywords

• Residential cooperative housing
• Property management
• Cooperative apartments
• Commercial leasing
• Resident amenities

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Others, Marketing or Sales

Revenue model

1. Apartment Share Sales: Shares of the cooperative are sold to new shareholders at market rates. After the 1995 Plan of Reconversion, price ceilings were gradually lifted and apartments now sell at market rates.
2. Monthly Maintenance Fees: Shareholders pay monthly maintenance fees for the upkeep of the cooperative properties, amenities, security, and management services.
3. Commercial Storefront Rentals: The cooperative leases commercial storefronts to various tenants including retail stores, restaurants, banks, pharmacies, and services.

Distribution channels2 records

Marketing channels3 records

Core offering

Seward Park Cooperative operates a residential housing cooperative on Manhattan's Lower East Side, offering apartments across four 20-story buildings in studio through three-bedroom layouts. Residents purchase shares in the cooperative to obtain housing rights and pay recurring monthly maintenance fees covering building operations, security, amenities, and management services. The cooperative also leases more than 20 commercial storefronts to neighborhood-serving businesses and provides residents with on-site amenities including fitness facilities, parking, storage, playgrounds, and community spaces.

Product overview

Seward Park Cooperative is a residential housing cooperative offering apartments in four 20-story buildings on the Lower East Side of Manhattan. The cooperative provides a comprehensive suite of amenities including fitness facilities, parking, storage, and community spaces. Residents have access to an online portal for communication and information management. The apartments range from studios to three-bedroom units across multiple floor plans.

Differentiator

Problem solved

Functional benefit

Products and services

• Seward Park Cooperative Residential Apartments Residential cooperative apartments in four 20-story buildings on Manhattan's Lower East Side, ranging from studios to three-bedroom units with various layouts including balconies and terraces. Buyers purchase shares in the cooperative to obtain the right to occupy a unit and pay recurring monthly maintenance fees covering building operations, security, amenities, and management.
• Commercial Storefront Leasing Lease of more than 20 commercial storefronts within the cooperative's ground-floor spaces to retail stores, restaurants, banks, pharmacies, and service businesses. Tenants include ArtFashion, Apple Bank for Savings, Citibank, Doughnut Plant, Kossar's Bialys, and Pizza Casa Inc.

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Partnerships

Four partnerships are on record, tiered minor and core.

• MyBuilding.orgminorStrategic or Co-development Partner · 26 March 2010Partnership announced in March 2010 to improve cooperative living through technology and community building initiatives. MyBuilding.org provides resources and platforms for cooperative management and resident engagement.
• Connect by HertzminorGTM or Marketing Partner · 18 February 2010Car sharing partnership where Connect by Hertz vehicles are parked on Seward Park property and available for rental by the hour, day, or week. Shareholders can rent cars for trips to Brooklyn or the beach. This partnership was covered by The Wall Street Journal and represents a green innovation initiative for the cooperative.
• ZipCarminorGTM or Marketing PartnerCar sharing partnership providing ZipCar vehicles for hourly and daily rentals in parking lots within walking distance of Seward Park Cooperative.
• OrsidNYcoreOthersProfessional property management company contracted to manage Seward Park Cooperative. Provides General Manager Steven Berisha and Assistant GM Cynthia Guarineri for day-to-day operations, maintenance, and security management.

Scale indicators6 records

Recent moves7 records

Expansion highlights2 records

Broad incumbents

• FirstService Residential: A large North American property management company that manages many residential cooperatives and condominium associations. Comparable as a broad incumbent in the co-op/condo property management space where OrsidNY and Seward Park operate.

Direct peers

• Penn South (Related Management): A large middle-income residential cooperative in Manhattan (Chelsea), sponsored by the International Ladies' Garment Workers' Union. Directly comparable as a union-sponsored, Manhattan-based residential cooperative with similar governance, maintenance fee structure, and conversion-to-market-rate history as Seward Park.
• East River Housing Corporation: The Manhattan residential cooperative (1956) that explicitly served as the model for Seward Park Cooperative's construction. Directly comparable in sponsor (ILGWU/United Housing Foundation), Lower East Side area, structure, and historical lineage.
• Amalgamated Dwellings: Another Manhattan Lower East Side residential cooperative that is part of 'Co-op Village.' Directly comparable given shared union sponsorship, cooperative structure, neighborhood, and historical context dating to 1930.
• Parkchester: A large residential cooperative in the Bronx, New York, with thousands of units, commercial tenants, and shareholder governance. Directly comparable as a large New York City residential cooperative with mixed residential and commercial real estate under member ownership.
• Co-op City: The largest residential cooperative in the world, located in the Bronx, New York. Directly comparable as a member-owned residential cooperative managing tens of thousands of units with a board of directors, monthly maintenance fees, and shared amenities — the same fundamental model as Seward Park Cooperative.
• Hillman Houses: A residential cooperative in Manhattan's Lower East Side that is part of 'Co-op Village' alongside Seward Park. Directly comparable as a union-sponsored, member-owned residential cooperative with the same architectural heritage and management model.

Others

• OrsidNY: The third-party property management company that manages Seward Park Cooperative. Relevant as the incumbent services provider, not a peer — included because it is the operating partner and represents the broader NYC co-op property management industry.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/seward-park-housing-corp

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Seward Park Cooperative