425 East 86th residents were surprised to learn the building had recently undergone an asbestos abatement. Much of the abatement was apparently on the exterior stairwell window caulking. This area is a foot or two from the kitchen windows on the A and F lines apartments.
- We are unaware of anyone who recalls being notified about this abatement, signage or other warnings that typically accompany asbestos abatement
- We are unaware of anyone living in A or F line apartments who recalls even being warned to keep their kitchen windows closed during the abatement process
- We are unaware of anyone who noticed any safety precautions normally seen around asbestos abatement sites
- Questions about these concerns were addressed to board president David Munves. Shareholders have yet to been given access to the building’s full asbestos files. Nor has the building addressed potential issues with respect to potential violation of FASB ASC 410-20. FASB ASC 410-20, as we understand, requires identification of known environmental liabilities on the buildings financial statements when they can be quantified and remediation would be required when the asset is retired.
- Despite board president Mr. David Munves’ assurances that the asbestos was not in our apartment, we later found that it was found on the roof. The Board uses the term “roof” to refer to the terrace area directly outside of our apartment.
- Likewise, the asbestos abatement on the exterior stairwell windows would likely have had to have been done stages via a drop from the terrace directly outside of our window. However, we received no notification about this work while it was going on. Typically, asbestos abatement work is prominently displayed.- as the signage at nearby building.
- We do NOT have information about other common potential environmental hazards such as lead paint or mold.
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