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Inspection Report Says 'Burg's 91-93 Met Needs $1.15M in Repairs

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Last time we heard from Williamsburg's 91-93 Metropolitan Avenue, it was going by the name 268 Wythe and had only just lost its construction wrapping. In the intervening years, the building tried the open market, but no sales closed. Now, in the latest twist for the building, a tipster writes in about some construction issues that, the tipster alleges, may have led some early buyers to back out of their contracts. The tipster passed along an inspection report dated earlier this year?and it suggests the building may be taking on water. We quote: "Pinholes through the EIFS walls were observed to be leaking water during RAND's survey which confirms that there is trapped moisture in the wall. With no means of escape, water will infiltrate the building envelope at all possible openings into the building interior." The balcony ceilings weren't installed in a water-tight manner, either, the report says, so that "icicles were observed at most ceiling penetrations for lighting fixtures."
The 20-page report recommends repairs on everything from the roof and balconies to the indoor common spaces, plumbing, and elevator. The total cost of the suggested repairs?with the caveat that the inspectors didn't perform any physical tests?is $1,150,730. The apartments are back on the market (with prices ranging from $625,000 to $769,000 for active listings, and four units in contract), so we reached out to the sales team at Corcoran about the inspection. Building reps had no comment. Anyone have any other intel?
· 91-93 Metropolitan Avenue [StreetEasy]
· 268 Wythe Avenue coverage [Curbed]