Regulatory approvals and permitting are the hidden bottleneck that kills real estate deals, not construction costs.
The hardest part of brownstone restoration isn't construction — it's navigating years of landmark approvals, permits, soil tests, and regulatory bureaucracy. Time is the real killer: carrying costs accumulate while waiting, and delays can destroy a project's economics.
transcript
Mark O'Brien: So it's been two and a half years that I've been waiting for permits. You know it's landmark. [...] No, it's it's a lot of work of architects, engineers getting u soil bearing bearing tests. You know, they've got to break up the the foundation down below in the in the cellar and I can show it to you and then they they want to see where is my neighbor's foundation, where's the footing, where where's my footing compared to their footing. [...] It's the cost to carry it. It's And time will kill every deal. And and often it does.
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