Background
The client, a national pension fund advisor, was in the process of purchasing a Class-A commercial office tower on behalf of an institutional pension fund. They turned to Rimkus consultants for due diligence assistance.
Services Provided
The Rimkus team performed an in-depth inspection of the two-million-square-foot high-rise tower in the heart of New York City. A key area of focus was the building envelope, which entailed a close-up inspection of the exterior façade, accessed using rope and harness. This high-altitude inspection revealed a major flaw in the attachment of the façade.
Our findings enabled the client to achieve a seven-figure price reduction on the property, which allowed the purchase to proceed while avoiding a costly surprise and protecting our client’s investment.
This case study is intended to provide general information and insights into prevailing industry practices. It is not intended to constitute, and should not be relied upon as, legal, technical, or professional advice. The content does not replace consultation with a qualified expert or professional regarding the specific facts and circumstances of any particular matter.