63. Bronx Building Collapse and The Retainage Reduction Act

NYC Real Estate

Host Mark Levine of NYC Property Management firm EBMG dives real-time into the building collapse on December 11, 2023 at 1915 Billingsley Terrace in the Bronx. The horrific collapse occurred roughly 4 hours prior to taping.

Mark walks listeners through what may have lead to the collapse and the various filings that were made over the course of the last 8 - 10 years. Hint: This is an extensive coverage of LL11 / FISP items.

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In addition, Mark also takes listeners through the new Retainage Reduction Act, effective November 17, 2023. This is a new law and relates to construction projects over $150,000 (retainage amounts are now capped at 5% and then there are some other restrictions).

Lastly, reminders to listeners on properly filing HPD Multiple Dwelling Registrations, Bed Bugs Filings and Board Conflict Disclosure Forms.

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Mark can be reached at his corporate email at [e-mail] or directly at 212-335-2723 x.201.

Happy Holidays from the NYC Real Estate Podcast!