Boards must conduct due diligence and communicate with sponsors to ensure that construction defects are remedied, as they can lead to escalating violation fines, unit-owner complaints, and legal costs. (Print: HOLD YOUR SPONSOR LIABLE)
Boards must conduct due diligence and communicate with sponsors to ensure that construction defects are remedied, as they can lead to escalating violation fines, unit-owner complaints, and legal costs. (Print: HOLD YOUR SPONSOR LIABLE)
A Tribeca condo is dealing with a decade-old default from the sponsor, leaving the building with an expired TCO and no final CO, which has resulted in unresolved permits and violations, making it difficult to obtain mortgages for apartment purchases. (Print: Perseverance Required: Road to Legality)
The Ariel West, a 34-story luxury condo on Manhattan's Upper West Side, has been forced to replace its terra cotta rain screen after dangerous defects appeared, costing $3 million to replace all 17,000 tiles on three of its four facades. (Print: The Ariel West Gets a New Raincoat)
Boards handling construction defects in condos should act within six years of first closing, considering litigation, settlements, and cost-benefit analysis.
Boards should be aware of any construction defects before a potential buyer comes calling.
When dealing with construction defects, sometimes a work-out is more productive.
A clever fix for a storm riser collapse.
The elevator job that shot from $145,000 to $700,000.
A condo board thinks long-term in tackling a surprising construction flaw.
What should condo owners do when they discover problems?