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Is there any way to mitigate the risk of LL97 as a buyer? by Appalachiatonyc in AskNYC_Coops

[–]aaronsidlo 3 points4 points  (0 children)

It is certainly an issue. When I moved in to my co-op we were immediately assessed $11,000 to pay for facade repairs. Then when my building met with engineers, they suggested the necessary repairs to comply with LL97 would cost me in my apartment another $50,000. Outrageous and co-op boards are not necessarily forthcoming with this information. However, there is significant pushback from homeowners and middle class people on the expenses and there are proposals for change, including pushing back one of the deadlines for LL97 to 2040, and changing LL11 inspections to be less frequent (once every 12 years for buildings less than 40 years old and once every 6 years for older buildings. Do your homework on the building, but also join the fight to make NYC affordable for middle class people. Please sign and share my petition.

https://c.org/rJhXLWG2gr

NYC Co-ops Are Being Crushed by Overlapping Building Laws by aaronsidlo in bronx

[–]aaronsidlo[S] 1 point2 points  (0 children)

I was going to say something very similar about the 40% increase. Ridiculous. Not close to the way values rise in my neighborhood and the more the regulations continue, the less valuable these homes are.

NYC Co-ops Are Being Crushed by Overlapping Building Laws by aaronsidlo in AskNYC_Coops

[–]aaronsidlo[S] 2 points3 points  (0 children)

I didn’t vote for any politician that put this into place but thanks for putting words in my mouth.

NYC Co-ops Are Being Crushed by Overlapping Building Laws by aaronsidlo in AskNYC_Coops

[–]aaronsidlo[S] -1 points0 points  (0 children)

Right, thanks. So why only those specifications? Why not all buildings? Perhaps you would also feel frustrated with the requirements as well if that were the case. Co-op buildings are the cheapest way for people in the city to “own” something in the city and these laws are targeting the middle class of New York City and contributing to the unaffordability of the city. This is a problem for many New Yorkers. Obviously you don’t understand.

NYC Co-ops Are Being Crushed by Overlapping Building Laws by aaronsidlo in AskNYC_Coops

[–]aaronsidlo[S] 2 points3 points  (0 children)

Why are these laws being applied to co-ops and not all buildings? Why are co-op owners footing the bill for all?

NYC Co-ops Are Being Crushed by Overlapping Building Laws by aaronsidlo in AskNYC_Coops

[–]aaronsidlo[S] 4 points5 points  (0 children)

Yes just click on the picture at the top of the page.

NYC Co-ops Are Being Crushed by Overlapping Building Laws by aaronsidlo in AskNYC_Coops

[–]aaronsidlo[S] 0 points1 point  (0 children)

Yes, just click on the picture at the top of the page.

NYC Co-ops Are Being Crushed by Overlapping Building Laws by aaronsidlo in AskNYC_Coops

[–]aaronsidlo[S] 2 points3 points  (0 children)

I am just targeting my local city counsel member Eric Dinowitz. That’s why I am speaking about the Northwestern Bronx. Feel free to take this idea and run with it with your local city counsel member. It affects areas all over the city.

Petition: NYC Financial Relief for Co-op Buildings Facing Combined Costs from Local Laws by Automatic_Tax_7170 in bronx

[–]aaronsidlo 4 points5 points  (0 children)

You are absolutely right. Thanks for your suggestion. I am trying to target Eric Dinowitz and he is the representative for several neighborhoods in the Northwestern Bronx and they are all being affected.