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The Hidden Alteration Risk That Could Bankrupt Your Building
Manage episode 500298481 series 3397088
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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.
Thanks for listening. Subscribe to this podcast for more stories on how New York co-ops and condos have solved a myriad of problems. Brought to you by Habitat Magazine, the "bible" that hundreds of board directors turn to every day!
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