WELCOME, FELLOW OWNERS
WE’RE GLAD YOU’RE HERE.
This website is continually being updated as we gather additional information, documents, and records.
YOUR INVESTMENT. YOUR COMMUNITY. YOUR RIGHT TO KNOW.
Why This Website Exists
Mystic Pointe Tower 500 is our home and our investment. Decisions made by the Association, its Board, and its management, affect both our home and our investment.
This independent website was created by Tower 500 owners because we believe owners deserve meaningful access to the information behind those decisions—not simply assurances that everything is being handled properly.
We believe owners should be able to see the records, understand what they show, question decisions when appropriate, and form their own informed conclusions.
We Have a Point of View
We are not affiliated with the Mystic Pointe Tower 500 Condominium Association, its Board of Directors, or Castle Group.
We are owners, and we have become concerned about aspects of the way our community is governed and how significant expenditures are being handled.
We are not trying to present ourselves as neutral observers.
When we express an opinion, we will identify it as our opinion. When we make an assertion about what happened, we will provide the underlying documentation whenever it is available.
Our objective is to be clear, accurate, and persuasive—as the evidence allows.
WHAT WE ARE WATCHING
FAÇADE RESTORATION & EXTERIOR PAINTING
The façade restoration and exterior painting project is by far the most consequential undertaking in our building and one that will have the most significant impact on our community.
We have already expressed our concerns about the doubtful necessity of this project in our letter to you. If you did not receive it, you can read our August 18, 2026 letter on this website, under Documents – Communications to Owners. While we are not prepared to present a full analysis—primarily because of the lack of information forthcoming from the Board and Management—there are certain aspects of the project that we believe owners should know about.
One of those concerns involves the role of committees in our building. Committee activity has declined dramatically. In 2023, 31 committee meetings were listed on BuildingLink. In 2024, that number fell to 10. In 2025 and 2026, there were none. The Engineering Committee last met on March 14, 2024, and has since been abolished.
The Board created a committee specifically for the façade project. It included Board members Steve Sayuk, Steve Schwarcz, and President Stewart Glass, along with owner Alex Bakshiyev. Alex’s concerns about the proposed contract are documented in his email exchange with Steve Sayuk, which is also available under Documents on this website.
We have neighbors, including David Markovic, Rodolfo Osers, and John Ferrieri, with advanced degrees in structural, mechanical, and/or civil engineering. None was included on the façade committee, despite the Board’s stated commitment to involving owners in its committees. John was last at a Board meeting on October 21, 2025, when he voiced reasonable objections to the project, as did Alex. Nevertheless, the Board voted to proceed with the project. John has not attended a Board meeting since.
There are also questions about how the contractors were selected. Falcon supplied the contractors invited to bid, meaning that the pool of bidders was determined by the project’s engineer rather than through an independent solicitation process. The bids themselves are available on BuildingLink, and owners can review them and draw their own conclusions. For a project of this magnitude—estimated at more than $4 million—it is particularly important that the process used to solicit, evaluate, and select competing proposals be transparent and subject to meaningful scrutiny.
We are continuing to gather and review the underlying information. If you have information, documents, questions, or observations concerning the project, please write to us at concernedmp500@gmail.com.
As the documentary record develops, we will share what we learn with the community. Up-to-date information is organized into its own section on this website.
ROOF REPLACEMENT PROJECT
The roof replacement project involved more than $1 million of Association funds.
We have assembled a substantial documentary record concerning this project, including the bidding process, changes to the scope of work, and the circumstances surrounding a $232,638 check to Best Roofing.
The records raise important questions about how the project was managed and how this payment came to be issued.
We have documented what the records establish, identified questions that remain unanswered, and provided the underlying documents so that owners can examine the evidence themselves.