Property Grunt

Monday, August 03, 2009

Just waiting to bite us in the ass

Awhile back there was a building I was doing an open house in and while waiting for buyers and I was talking shop with the super of the building. We were discussing the new development that had opened up around the corner and with a smile he shook his head saying that he would never buy into that development. Before becoming a super he was in construction and from what he saw of that new development it was a disaster waiting to happen.

Which brings me to this article.

New York Faces Huge Backlog in Retests of Concrete

Nearly a year after New York City said it had a plan to retest the concrete in an untold number of buildings because a testing company was suspected of failing to perform required tests or falsifying results on scores of projects, only a handful of buildings have been retested.

The City Department of Buildings first learned of the allegations against the company, Testwell Laboratories, in June 2008, and two months later, an official said that the agency had developed a plan to begin the required retesting. In October 2008, when several company officials and employees were charged in the case — accusations that involved some of the city’s highest-profile construction projects — the Buildings Department received a formal list of the affected buildings.

One of the many words of wisdom that Mama Grunt bestowed upon her brood was to never buy a home that was recently built or was built that had never been inhabited before. Always buy a home that has a record of habitation.

During the last boom, building materials were in high demand due to the fact there was a ginormous construction going on in China. There were lots of rumors about developers cutting corners to keep down costs. Which makes this situation so f**king scary.

There is a huge possibility that New York City has a number of potential collapsing time bombs. It may not happen today, it may not happen tomorrow, it may not happen for the next ten years. But if the NYC government has dropped the ball on quality control, we may be looking at this in the near future.