4 ms·
Those prices depend not only on buyers’ confidence in the building’s safety but also their willingness to be associated with a building that is regularly in the
by fatbird 5y ago
Those prices depend not only on buyers’ confidence in the building’s safety but also their willingness to be associated with a building that is regularly in the news.
He's leaving out a big factor that any condo owner understands: maintenance fees. I wouldn't take a unit in that building if it were free, because for the lifetime of the building there will be ongoing excess maintenance associated with every system because of the settling. Imagine the extra wear on the high speed elevators running out of true vertical. Imagine the differential stresses placed on pipes and boilers and tanks that expect to sit vertical. Imagine the effect of continually reseating the building's connections to local services like sewer and electricity. And imagine the effect of the HOA spending money on grand fixes while routine maintenance gets deferred.
In the near term, the effect of the tilt is negligible, but buildings like these continually suffer from imperfect, discontinuous maintenace under the best conditions; the Millenium Tower will forever be marked by every realtor and owner as maintenance-expensive (meaning vastly higher monthly fees) compared to all the other buildings around.
- libria 5y agoI'm wondering how plumbing & grey/black water could possibly withstand inches of shear or compression stress without bursting leaks, let alone feet.
- notimetorelax 5y agoI’m guessing since they expected the building to settle there were some allowances. So it is possible, but of course with a settling 3x of what’s expected I wonder too.
- genocidicbunny 5y agoMy guess is they already have flexible connections with a lot of those on account of earthquake safety. You don't want all your pipes bursting and liquefying the ground during an earthquake. Depending on where the connections are in the building, they may also not have suffered as much settlement as the most affected corner of the building.
- redis_mlc 5y agoThey've had problems already. Horizontal pipes are supposed to be at a slight angle, and the tilt has already exceeded that angle, so there is leaking of sewage. Also the elevator will stop running after the angle exceeds about 3 degrees. Either way, the occupancy certificate will be revoked.