Access agreements are the bane of many New Yorkers trying to renovate a home.
These signs are almost unavoidable in a city where buildings stand shoulder to shoulder and most apartments share walls, floors and ceilings. Both routine upgrades and new construction often require workers to temporarily encroach on a neighbor’s property.
But getting permission can be quite a challenge. An uncooperative neighbor can send owners back and forth for months. If the dispute goes to court, and many of them do, reaching a resolution can delay projects even further.
Just last month, a trust tied to comedy writer Jill Davis and former Bain Capital managing partner Edward Conrad sued their neighbors, Sotheby’s CEO Charles Stewart and his wife Catarina, over the couple’s renovation of their Upper East Side townhouse. The lawsuit alleges that the parties spent years negotiating an access agreement, and that even once an agreement was in place, the couple failed to adhere to its terms.
To ease the headaches, lawmakers in Albany proposed legislation aimed at establishing guidelines for the agreements and streamlining the process. Gov. Kathy Hochul signed the bill last week.
The new law will only come into effect if the search for a visitation agreement ends up in court. Rather than giving judges complete discretion over the terms, it outlines some standards, including a requirement that those seeking to reach an agreement must ensure their neighbors have access to their insurance policies if their property is damaged.
The law also provides some guardrails around the amount of compensation that adjacent property owners can seek — a piece of the puzzle that often becomes controversial. The law states that neighbors are entitled to compensation, but that this must be reasonable.
Still, the law isn’t exactly a comprehensive solution to the battle created by obtaining these agreements, although supporters say the existence of a standard could push some parties to settle disputes out of court.
What we think about: The Durst Organization is looking for a buyer in front of two of the Theater District buildings, one of which houses Jimmy’s Corner, a beloved dive bar founded by the late boxer Jimmy Glenn. A listing for the properties at 136-140 West 44th Street bills the site as a “prime development opportunity” – what could replace the Midtown institution? Send your thoughts to sheridan.wall@therealdeal.com.
Something we learned: MoMA PS1, the Long Island City-based branch of the Museum of Modern Art, will be open to the public for free starting in January. According to the museum’s latest visitor numbers, approximately 200,000 people visit every year.
Elsewhere in New York…
– A new study from researchers at Cornell University shows that air pollution in Manhattan has decreased since the congestion charge went into effect in January. Gothamist reported. Before the introduction of the controversial policy, the municipality’s air contained approximately 14 micrograms of particulate matter. That benchmark has dropped to 11.
– The Department of Transportation threatened to cancel $73 million in federal funding for New York highways if the state continues to allow international drivers to obtain truck licenses, ABC News 10 reported. Transport Minister Sean Duffy said the agency’s warning came after an investigation found a large number of permits were issued illegally.
Closing time
Residential: The highest residential deal recorded on Friday was $10.4 million for Amsterdamlaan 200, 32B. The Upper West Side apartment measures 2,700 square feet and last sold in 2021 for $9.2 million. Brown Harris Stevens Lisa Lippman has the transaction.
Commercial: The best recorded commercial deal was $4.37 million for an apartment building at 1643 Popham Avenue. The Morris Heights building has nine units, is four stories and 7,400 square feet.
New on the market: The highest price for a home to hit the market was $23.5 million for 432 Park Avenue, Unit 69B. The Midtown East apartment is 4,000 square feet. Serhant has the entry.
Groundbreaking: The largest new building permit filed was for a proposed 27,985-square-foot, 21-story, 350-unit building at 743 East 12th Street in the East Village. Thomas Furman of SLCE Architects is the applicant of record.
— Joseph Jungerman
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