News: Brokerage

Bellet Construction completes FISP project at 555 West 23rd St.

New York, NY Bellet Construction has completed an extensive Façade Inspection Safety Program (FISP), aka Local Law 11/98 project, at 555 West 23rd St., a 332-unit, 14-story condominium residence with 11,000 s/f of grade-level retail, built in 2006. Located in the West Chelsea Gallery District, the property faces the High Line and Hudson River and spans a full city block from West 23rd St. to West 24th St., with 200 linear ft. on each side. In addition to all-masonry exteriors on the street elevations, the building features masonry walls and individual apartment terraces on the three elevations overlooking a large private courtyard. The courtyard area also features a 12,000 s/f sundeck on the fourth floor.

The property management firm is FirstService Residential.

Following a series of thorough inspections, it was deemed the 16-year-old structure showed nominal distress, despite its proximity to the Hudson River and weathering Hurricane Sandy ten years before. Typically, there were several areas of cracked, spalling, and displaced brickwork identified. Only one loose glass panel along a terrace parapet railing and a cracked windowsill were noted to be “unsafe” in the sprawling building, while some other conditions were designated “Safe with A Repair and Maintenance Program” (SWARMP). All the repairs have been made and the project certified as safe through the next mandated inspection in five years.

“After a highly competitive bidding process, we were awarded the contract for this impressively designed property,” said Wayne Bellet, president of Bellet Construction. “Our goal was to restore four elevations of exterior surfaces and brickwork around dozens of private terraces with minimal disruption to the residents. We erected sidewalk sheds around the street sides, as required, and created a controlled access zone in the courtyard. In addition to protecting residents, the controlled access zone allowed them to use open portions of the courtyard and resulted in saving the condominium association in excess of $100,000!”

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
A guide to finding the right NYC property management company - by Sanjay Gandhi

A guide to finding the right NYC property management company - by Sanjay Gandhi

Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
Positive forecast for New York’s pro-housing push? - by Philip Butler

Positive forecast for New York’s pro-housing push? - by Philip Butler

New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing