Joe Boccia is a vice president at Boccia Inc., Garden City Park, N.Y.
What was one of your corporate or career highlights of the decade?
My most memorable career experience of the last decade was the remediation, restoration and renovation of twenty one apartment buildings that were only four years old. Faulty building design and shoddy workmanship led to extensive water intrusion which resulted in widespread mold growth. Besides the well-known health effects, it was amazing to see how devastating mold can be on wood structures. It was as if the framing and sheathing were exposed a serious fire and deteriorated to the point of structural instability requiring immediate replacement. I believe the industry will take a more proactive stance in the future making watertight buildings a priority.
When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:
Formal Legislative Role
• Limited direct lawmaking power: The NYC Council is the primary
In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability