How much do Local Law 11 facade repairs cost?

[hadi]

Does anyone have an idea of what it'd cost to do facade repairs for your typical condo, co-op building of say 7 to 10 units, and 7 to 10 stories tall? What if the building is landmarked?

I'm a bit terrified after hearing stories about buildings like 230 Park Avenue, which paid $7.7 million over a 18 month period to do a Landmark Preservation Commission approved facade repair program. Granted, this is a big building at 34 stories and 1.4 million square feet in Midtown Manhattan. But still, scary as hell.

Anyone have any estimates for me?

[Benny]

I think these repairs will be a bit more expensive as everything will have to be approved by the Landmarks Preservation Committee (LPC), which isn't exactly known for being an efficient government agency.

Even though having a landmarked building may seem cool, the reality of being an owner may not be that pleasant. Just check out the latest rules of the LPC, Title 63 of the Rules of the City of New York.Effective as of January 22, 2019.

Honestly, the trick is to buy an apartment in NYC in a building that is six stories or less so you can avoid Local Law 11 regulations altogether, and also make sure the building you buy in is not landmarked, so you don't have to deal with LPC. Wish I had known all that when I bought!

[HauseitAdmin]

A friend's 6-story condo building in Lower Manhattan paid approximately $200k for a facade restoration a few years ago, but I was told that the building is not landmarked.