The Terracotta Trap: Why the 'Obvious' Fix Isn't Always Right

When a century-old building's terracotta cornice started cracking, the board faced what seemed like a straightforward fix: replace the damaged sections with new terracotta. But a closer examination of the numbers told a different story, says Michael Wolfe, president of Wolfe Realty Services, who consulted with the board. The cornice work cost $750,000, and the total project totalled $1.2 million when scaffolding and mobilization was factored in. By thinking ahead, this building avoided spending another $300,000-$400,000 on future mobilization costs when those terracotta patches would inevitably fail again. In this episode, Wolfe shares why it might pay to spend more upfront — sometimes the "obvious" solution isn't the smartest one — especially when you're planning for the long haul. Habitat’s Carol Ott conducts the interview.Thanks for listening. Subscribe to this podcast for more stories on how New York co-ops and condos have solved a myriad of problems. Brought to you by Habitat Magazine, the "bible" that hundreds of board directors turn to every day!