Insurance carriers are abandoning New York buildings at an alarming rate, and your co-op or condo could be next. Jason Schiciano, co-president of Levitt-Fuirst Insurance and Bonding, reveals how a 108-unit cooperative saw their premium nearly triple after being non-renewed by their carrier. Learn why insurance companies are walking away from New York buildings and discover the red flags that could put your building at risk. Schiciano shares practical strategies to protect your building's insu...
When a small Manhattan co-op suddenly saw its budget spike, rising costs weren’t the culprit — it was an administrative filing error. Turns out the co-op had lost its co-op tax abatement worth $60,000 because its management company had missed the rule regarding prevailing wage requirements. Avi Zanjirian, partner at Czarnowski & Beer walks us through how the board discovered the oversight, fixed the problem, and ultimately got the abatement reinstated. Habitat’s Emily Myers conducts the i...
When a routine facade inspection uncovered a catastrophic structural failure, the garage at an Upper East Side co-op became a ticking time bomb. In this episode, Michael Monteiro, senior project engineer at Cowley Engineering, explains why ramps are the canary in the coal mine for structural issues, what warning signs residents can spot themselves, and how ignoring deterioration can lead to hundreds of thousands of dollars in repairs. With 1,600 NYC properties still non-compliant with new ins...
Water damage is insidious: it will eat into your building's budget and drive up insurance costs. John Rusk, president and co-founder of ProSentry, reveals how an affordable leak detection system can transform your building's risk profile through the story of a condominium that saved $300,000 on insurance after installing sensors throughout the building. You'll learn about the surprisingly simple installation process and how you may even end up with a discount on your insurance. If you're faci...
Time is running out for New York co-op and condo boards facing Local Law 97's 2030 compliance deadline, but there's a smart path forward. Punit Shah, Vice President of Existing Buildings at Bright Power, shares the surprising reality facing one Upper East Side condo that was looking at massive penalties. Shah reveals the three-phase approach that's transforming buildings across the city, from quick-payback retrofits to electrification readiness measures. Whether your building can achieve full...
When a post-war Upper West Side co-op decided to electrify to meet Local Law 97 requirements, they thought they had a clear roadmap. But what started as a $2 million project quickly spiraled into something much bigger and much more complex. Tina Larsson, CEO of The Folson Group, reveals why even well thought out projects can double in cost and scope. If you're planning any major infrastructure work, her insights could save your building from similar surprises. Habitat's Emily Myers conducts t...
Gas shutdowns are every building's nightmare, and depending on which service is affected residents could be without heat, cooking or laundry service for who knows how long. Getting service restored can open a can of worms though, particularly in a laundry room. Ashley Erichsen, an account executive at Automatic Industries, explains why and details the journey of a large Bronx co-op to get its laundry room back up and running after a gas shutdown. Habitat’s Emily Myers conducts the interview. ...
Board members taking control of new condominiums need to engage an independent accountant to perform a proper financial true-up — before it's too late. Amy Jennings, a manager at WilkinGuttenplan, reveals how one Manhattan condo board discovered their sponsor owed them six figures only after the waiver period (when the sponsor markets the building by waiving common charges) ended. The building had secretly been running at a loss for at least a year. Worse, this isn't an isolated incident. Jen...
Water waste is often a silent drain on your building’s finances, and it takes a bit of sleuthing to find the source. Alan Rothschild, president of the Vantage Group, a water cost management consultancy, reveals how one Harlem condominium discovered their commercial tenant was secretly using water-cooled refrigeration equipment that bypassed their sub-meter, costing the building thousands annually. He shares practical strategies for identifying waste, the real cost of sub-metering commer...
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 unexpect...
Your building's insurance renewal just became a high-stakes game, and many boards don't even know they're playing. In this episode, risk control specialist Brice Reynolds of Mackoul Risk Solutions reveals how insurance companies are now aggressively using "loss recs" to cancel policies within 30 days, leaving buildings scrambling for coverage. You'll discover what these are, why simple sidewalk cracks and damaged curbs have become threats to your building's insurability and why old strategies...
Asking a doorman to watch packages and the front door simultaneously has become unsustainable in today’s package-happy world, but that’s the reality in many buildings. Marilyn Sygrove, president of Sygrove Associates, recounts how one Upper East Side co-op tackled a dysfunctional lobby that was set up so the doorman had to do both — a security nightmare that frustrated everyone. In this episode Sygrove shares her three-step approach to solving design challenges such as this one, breaks down t...
Imagine cutting your building's energy costs by 25%, while keeping residents comfortable and complying with Local Law 97. One Queens co-op did just that, saving $24,000 using smart heating sensors. Izzy Friedman, director of technical services, and Daniel Berg, account manager at Entech, reveal how indoor temperature sensors can transform your building's heating system from a money-draining guessing game into a precision operation. Learn how these systems catch expensive problems before they ...
With the 2030 carbon emissions deadline approaching fast and major retrofits looming by 2035, New York City board members need to listen up. Mark Balsam, president of ReDocs, an energy and compliance consultancy, reveals why so many buildings are still scrambling despite years of advance notice — and more importantly, what smart boards are doing about it. Learn how analyzing your building's square footage differently could slash your carbon targets, why paying penalties might hurt your financ...
When a century-old building's terracotta cornice started cracking, the board faced what seemed like a straightforward fix: replace the damaged sections with new terracotta. But a closer examination of the numbers told a different story, says Michael Wolfe, president of Wolfe Realty Services, who consulted with the board. The cornice work cost $750,000, and the total project totalled $1.2 million when scaffolding and mobilization was factored in. By thinking ahead, this building avoided spendi...
Board members struggling with constant water damage need to hear this: Jerry Kestenbaum, CEO of the technology and service provider Aware Buildings, explains how one 220-unit luxury co-op in Sutton Place transformed from having staff literally walk hallways listening for leak alarms to deploying a sophisticated wireless sensor network that catches problems in real time. Learn how this building invested $85,000 upfront to eliminate the chaos of battery-operated sensors that died at the worst m...
Tired of sky-high heating bills and residents complaining about wildly uneven temperatures? In this interview, Kelly-Ann Corrigan, CEO at the technology and service provider Runwise, reveals exactly how a 191-unit Bronx co-op transformed their bottom line using wireless sensor technology and strategic system upgrades. You'll discover how they invested just $60-70K and now save $50-60K every year on heating costs alone, plus an additional $50K in water savings by switching from fixed-rate to m...
Think your digital payment system is safely depositing maintenance fees directly into your building's account? Think again. This eye-opening episode reveals how a Queens co-op discovered their payments were making mysterious detours through unauthorized intermediary accounts before reaching their bank. Carl Cesarano, managing shareholder at the auditing and accounting firm Cesarano & Khan, exposes the hidden risks lurking in popular payment platforms. You'll learn why that convenient digi...
Smart moves save money - just ask 160 West End Avenue. When this Manhattan co-op faced a $4 million facade repair project, their board sought a second opinion. The result? A more targeted approach that brought the cost down to under $900,000. John Galetta, principal at Superstructures Engineers and Architects tells the story to Habitat’s Paula Chin. Lesson learned: a thorough investigation before starting repairs can lead to massive savings. Thanks for listening. Subscribe to this podca...
A new board at a 150-unit Westchester co-op was eager to take charge and make changes only to find themselves struggling with their current management company. The board couldn’t get access to the building’s financial records, had a never-ending temporary boiler instead of a completed boiler replacement and mounting tension with their current property manager. The board reached out to Tina Larsson, founder and CEO of the Folson Group, for help. In this interview Larson, acting as a consultant...