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SUNDAY NEWS - AUGUST 6 2023

What’s going on in the Real Estate world this week?




THIS WEEK ON STATEN ISLAND AND BEYOND



 

After years of delays, Rep. Nicole Malliotakis (R-Staten Island/South Brooklyn) believes a vital resiliency project is ready to move forward along the East Shore.


Malliotakis has long maintained that design conflicts between the city and federal governments have been a key cause to delays for the massive project officially known as the South Shore of Staten Island Coastal Storm Risk Management Project, but colloquially referred to as the East Shore Sea Wall.



Time is running out for New York City co-op and condo owners to upgrade fossil fuel-burning heating and cooling systems as mandated under city Local Law 97 — or face stiff penalties.


Many co-op and condo owners are fretting about the implementation of the climate legislation, due to take effect in January 2024, since the penalties could potentially lead to a spike in assessments. Furthermore, costly retrofits that might be required in order to comply with the law are also likely to lead to higher assessments.



Shameless plug- we were featured on SI Live this week for our Highlighting Staten Island project! Check this awesome article out!

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