The article is too short and omits the statistics, but points to a set of problems with the charter school movement that is being sold to the country. In Chicago, real estate developers working to gentrify neighborhoods for a profit were prime movers in closing "bad" schools and putting corporations in charge of schools that only address the needs of gentrified homes. Customers would not buy the gentrified real estate if the local schools had a bad rep. The New York story sounds similar.
Follow the money. When corporations are given control over school systems, who benefits? Rich white corporations? (The IPC report linked in the article does not give much more about the closure of ghetto schools.)