Page 16 - CooperatorNews New Jersey Spring 2022

16 COOPERATORNEWS NEW JERSEY —SPRING 2022 NJ.COOPERATORNEWS.COM WE ADVISE, YOU SUCCEED accesspm.com NJ Offices Flemington, Edison, Paramus, Mt. Laurel 908.237.9900 PA Offices Lehigh Valley, Horsham 610.791.1600 SINCERE Est. 1989 ATTENTION BUILDING OWNERS AND MANAGERS Maintenance of any masonry/concrete mid to high rise building is CRUCIAL From parking decks, to balconies, to brick pointing, window caulking, parapet walls, and roof structures, simple maintenance and inspection is IMPERATIVE to keep your investment DRY and STRUCTURALLY SOUND. Water intrusion can cause: • Structural damage • Damage claims from tenants and owners • Mold issues and lawsuits • Safety issues, e.g., falling masonry & Restoration Inc, of Jersey City, NJ, successfully completing over $200,000,000 of restoration work in New York, New Jersey, and Connecticut. H2O Pro operates only in New Jersey and we pledge to you that if you trust us to oversee exterior repairs to your buildings we will treat them as if they were our own. Choosing the right contractor is extremely important! Who are we? Call Toll Free: 844-774-6776 Small maintenance issues can become large capital projects. We work with you or your architect/engineer, to establish a repair plan that keeps your investment safe and sound without breaking your budget. With hurricanes and other torrential these units are in buildings and neighbor- storm events on the rise around the nation, hoods that wouldn’t necessarily come to the issue of fl ooding has come as something mind, including Washington Heights and of a wake-up call for homeowners and local Beekman Place. Lobby-level apartments governments alike. Th e real-world eff ects of are frequently under sidewalk level.” climate change are upon us, even in areas where such events were rare before—if they issue, Beauchamp continues. “When \[these occurred at all—and certainly in places like buildings were\] originally constructed or New York and New Jersey, where the de- struction of Hurricane Sandy back in 2012 there wasn’t extreme weather or major arguably marked the start of an era of more fl ooding to worry about, so little thought frequent, much more intense inclement was given to this problem. We have never weather events. Th e potential for fl ash fl ooding in urban couple of years. We didn’t know we needed environments has raised a particular con- cern for co-op and condominium owners for this; there were lots of discussions, but in buildings or associations where there nothing was implemented, because it didn’t are units at or below grade. Such units are feel urgent.” more common than you may think; smaller associations and corporations that occupy co-op or condo, this problem is similar to brownstone or other low-rise type buildings capital improvement projects. We can’t put oft en have ground fl oor or semi-subterra- nean garden units. Th ey’re also common past. From the perspective of a board, the in neighborhoods—such as Washington question is, ‘What can we do to prevent Heights in upper Manhattan, for example— where the natural topography below means work, and how do we pay for it?’ A likely large numbers of ground fl oor units that are concern for boards is the possibility of a partially subterranean. Surprise “Th ere are certain neighborhoods and should consider a fi nancial plan to address types of buildings that have more subter- ranean or partially subterranean units than others,” says Nicole Beauchamp, an agent on the proverbial wall is Rockaway Beach’s with Engel & Volkers, a real estate broker- age company located in Manhattan. “Oft en of seven townhouse-style buildings with a A generation ago, that would be a non- converted to co-op or condo ownership, seen before what we have seen over the last to be prepared to make accommodations Beauchamp goes on to say that “For a off addressing them the way we did in the a disaster? Who do we bring in to do the maintenance increase or special assessment resulting from a fl ooding incident, so they the problem.” One community that saw the writing Shore View Condominiums. Th e grouping Flood Risk Rises for Condos & Co-ops How to be Physically & Financially Ready BY A. J. SIDRANSKY MANAGEMENT