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Problem Solved! For Co-ops and Condos
From building repairs and maintenance, energy upgrades, insurance, lobby redesigns, accounting and financing - the challenges facing co-op and condominium board directors are endless. In this series, Habitat Magazine editors interview New York City experts to learn how problems have been solved at their client co-op and condo buildings. We take a deep dive into the issues being confronted, the possibilities for solutions, the costs, the challenges, and the outcomes. Habitat Magazine, founded in 1982, is the trusted resource for New York City co-ops and condo board directors. Visit us at www.habitatmag.com
Problem Solved! For Co-ops and Condos
The Hidden Alteration Risk That Could Bankrupt Your Building
When an Upper East Side co-op’s gas pipes failed Local Law 152 inspection and service was immediately shut off, what happened next could have cost over half a million dollars. Instead, smart planning kept repairs under $200,000, and engineering expert Peter Varsalona, principal at Rand Engineering and Architecture, reveals the step-by-step strategy that saved this building from disaster. Learn why testing gas systems in sections was crucial and how individual apartment meters created unexpected complications. Discover why waiting for the mandatory four-year inspection is a costly mistake, learn specific alteration agreement language that protects your building from shareholder-caused gas shutdowns, and understand when converting to electric makes financial sense. This real-world case study could save your building hundreds of thousands of dollars and months of resident disruption. Habitat's Carol Ott conducts the interview.
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