One predictable thing about years is that they end. For many after a particularly turbulent 2017, this may come as quite the relief. Regardless of one's take on the past 365 days, 2018 awaits. The Cooperator reached out to a handful of New York-based real estate experts from various backgrounds to learn their hopes, concerns, and predictions for what the new year may hold for the industry at large.
Steve Elbaz, president of Esquire Management Corporation
For starters, I'm excited that technology continues to shrink buildings' impact on our environment.
My greatest concern, however, is that the new law passed requiring inspections of gas pipes as a result of the gas explosion that leveled a building in lower Manhattan [Ed., Elbaz is referring to Local Law No. 153] will expose buildings to unprecedented inconvenience and costs as gas is piped to every apartment in a building. Replacing these pipes will involve removing walls and ceilings with both asbestos and lead paint, as well as moldings, wires, conduits, wallpaper, and other decorations in residents' homes.
Aaron Shmulewitz, Esq., of Belkin Burden Wenig & Goldman, LLP