SWARMP stands for "Safe With a Repair and Maintenance Program" - the building's facade passed inspection but requires ongoing minor maintenance to remain compliant. This is a marketable status with minimal buyer concern. The building must conduct periodic repairs per the program plan, but costs are typically modest and handled through regular maintenance budgets rather than special assessments.
From the seller playbook: Local Law 11 (FISP) Compliance Status and Its Effect on Sale Timing
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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