Bais Yaakov of Boro Park...

amother

Thu, Sep 03 2009, 8:58 pm

...so, what ended up happening?

Did they/ will they open this school year?

I live OOT but still sent in some money to support their appeal.

As such, I am quite curious where the school is holding.

Does anyone know?

amother

Thu, Sep 03 2009, 9:07 pm

We just received a message from Bais Yaakov saying that they WILL open. They thanked those who donated, and said that they still need all the help and donations they can get.
School doesn't start until next week Wednesday btw.

Ashrei

Thu, Sep 03 2009, 9:43 pm

What's the address to send money?

What did the families do??? It must have been nerve racking not knowing whether or not their daughters were going to have a school to go to or not.... How did they handle it??

It's so sad to hear a school might have had to shut down. Sad

gingerbread

Thu, Sep 03 2009, 10:11 pm

well, they weren't shutting down. they were just low on funds. so they painted a very bleak picture and combined some classes. closed the resource room, got rid of the extras that cost them a fortune....

sunshine!

Thu, Sep 03 2009, 11:07 pm

Seems that when they bought the building next door, a donor took it upon himself to cover the mortgage payments. However, with the economy as it stands, he can no longer afford the payments on the mortgage. As far as we heard, they were trying to sublease the other building to another school, but were not having success.

amother

Thu, Sep 03 2009, 11:40 pm

sunshine! wrote:

Right.
The trouble is that it seems they had a balloon mortgage with interest only payments the first few years on the new building.
The donor said he would pay the balloon payment (principal) when the interest only expired, and when the time came, he could not afford to do so.
They are in a very dire situation. Teachers are owed lots of money ($20k each, I spoke to one of them.)
They are still on shakey ground and in need of donations.
Ashrei, the address for donations is 1371 46th Street, Brooklyn, NY 11219.
Our daughter is starting school there this year and the tuition is astronomical. They cannot give us a break because of their situation. May Hashem help us so that we have enough money to pay for her tuition.