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The Hidden Price of Delaying Your FISP Inspection
Manage episode 524923270 series 3397088
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An 18-story Upper West Side condo thought they were being financially prudent by delaying their facade inspection. Instead, they ended up paying half a million dollars more than they should have. Gene Ferrara, president at JMA Consultants, walks through exactly what went wrong with this building and why the problems kept compounding. The terracotta repairs turned out to be far more complicated than anyone expected, involving structural steel issues and difficult conversations with residents about moving furniture. The delays meant dealing with access agreements that became increasingly expensive and complex. Ferrara explains what this building could have done differently and offers specific guidance on timing that could help other buildings avoid the same costly mistakes. The technical details are fascinating, but what really comes through is how much money and headaches buildings could save with better planning and honest communication. Habitat’s Emily Myers 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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