unsafe balconies at 201 West 70th Street

Another reason not to be an owner. If your son falls off the balcony, you get to sue yourself for not maintaining it properly!

That plus 20+ yrs of shady bldg inspectors! You know not the proper risk you have on your re asset.

There was a story in the paper last week about the DoB shutting down the balconies at 201 W 70th and something like 20 other buildings.

The usual over-reaction to that guy plummeting off his. Apparently the co-op is supposed to inspect every bolt connecting railings with slab and wall on hundreds of balconies, as part of Local Law 11 go-round.

Lincoln Center just redid their balconies. Concrete and railings over time weaken. At one building in Queens the Coop board banned outdoor carpet on the balconies/terraces under the theory that the carpet shortens the life of the repairs which also cost the building money. Building went up in 1972 and if these are the original balconies, it might be close to when this work would need to begin.

201 West 70th street has very similar balcony construction to where the accident happened two months ago? (Balcony collapsed and guy fell 23 stories) So bldg department looked in their records for every similar bldg, with similar construciton, went out on patrol with binocculars, and didn't like what they saw at West 70th. I would anticipate you'll be looking at a CC assessement in the future due to repairs. I liked that bldg, however, my wife was convinced a neighbor on their balcony could feasibly bend down, turn around and see into our bedroom, which was the deal breaker.

I am in contract to purchase in one of the bldg that has unsafe balconies. I am waiting for board approval. Should I follow through with the purchase or walk away? Will I get my deposit back if I decided to walk? How much am I looking at for CC assessment increaes to fix the balconies for the entier bldg?

Balconies should be inspected periodically, 2 or 3 years.
But more important, better buildings don't have balconies. As a purchaser, I wouldn't look at a balcony as a value enhancement.

Looked at an apartment in 201 W 70 last summer - never bought, very pricey. Vividly recall concerns about the balcony. The floor was significantly cracked, and while looking up at other units, saw that the underside of many balconies appeared rust stained, etc. The broker said that all that was needed were some basic outdoor tiles or carpet. Guess not.