A Condo Building Couldn’t Collapse in NYC. Or Could It?
Herrick partner Deborah Koplovitz was quoted in The Real Deal in an article about condominium and cooperative building safety. Deborah said that a shift in mindset is needed among high-rise residents in concern to building repairs.
The article states that Deborah explained, "There’s an 'intellectual gap' between owners of single-family homes, who know to expect ongoing maintenance costs, and unit owners, who often try to escape new maintenance charges."
"You end up being penny-wise," Deborah said, adding that "[t]hen you get stuck with a giant, multi-million-dollar project."
Read the full piece in The Real Deal here. Access may require a subscription.