A small converted loft building was forced to vacate due to leaning bearing walls, resulting in a financial dilemma for the condo owners to raise the capital needed for emergency repairs. (Print: Delayed Repairs: A Worst-Case Scenario)
A small converted loft building was forced to vacate due to leaning bearing walls, resulting in a financial dilemma for the condo owners to raise the capital needed for emergency repairs. (Print: Delayed Repairs: A Worst-Case Scenario)
A 14-story, 26-unit luxury co-op on the Upper West Side was required to comply with the Department of Buildings code by replacing its glass elevator doors with cold-rolled steel panels set an eighth of an inch deep, which was aesthetically pleasing and up to code. (Print: Time For An Elevator Face-Lift)
Spending a little extra money to probe deeper and get a second opinion can save you money on the back end when diagnosing facade issues, such as the lack of wall ties at Lincoln Towers, a 30-story, 484-unit co-op in New York City. (Print: Beneath the Surface)
Wireless sensors can be used to detect water leaks before damage escalates, but without internet connections in hallways or other building hubs, it can be challenging to deploy them on a building-wide scale. (Print: Missing Link)
When shareholders request to transfer ownership of their shares to a trust, boards need to make sure it's clear what the rules are, including the shareholder's responsibility to pay the maintenance and the board's right to approve occupancy. (Print: When Trusts Get Tricky)
Boards should have a process in place to verify that prospective purchasers are financially qualified, and should also meet with prospective purchasers before making a decision to ensure their applications are truthful. (Print: Setting the Bar)
Despite longstanding regulations, enforcement on laundry room upgrades in a Mitchell-Lama co-op faced delays exacerbated by COVID and supply chain issues.
Freeze-thaw cycles take a heavy toll on building facades. Replacing — not just repairing — damaged stonework is a major undertaking, but worth it over the long term.
Keep track of the history of apartment alterations. It will help assign responsibility for repairs after a one-time casualty leak.
Co-ops and condos can legally require owners to have insurance, allowing boards to raise building deductibles and potentially lower premiums.