The Real Deal

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When work stops, costs don't

Trump Soho

From the May issue: As construction safety becomes an increasing priority, building contractors and developers throughout the five boroughs are feeling the effects of the city's recent inspection crackdown in their wallets. Industry experts say the multi-day or multi-week work stoppages that sometimes follow an inspection can cost a developer or contractor millions of dollars in loan interest payments, rental costs of machinery and lost labor. And now, after several high-profile accidents — including the East Side crane collapse that killed seven people in March — and the resignation of the Department of Buildings' commissioner, Patricia Lancaster, last month, the crackdown is likely to intensify.  more