Terribly difficult decision on shutoff valve for old building

Jeff Jot

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This old house is a small 1930 building that used to be a family store, smaller square feet than my house, which isn't that big. It is divided into little studio apartments and sits on a slab.
I rent it out and do everything (maintenance, mowing and trimming, repairs) and this is a vital part of my income. About 5 years ago I renovated the bathroom of the downstairs unit myself and there in the wall is the main water line for the building, galvanized pipe coming out of the concrete floor. There was an old shutoff valve there that was broken. At the time, wanted to put a newer 90 degree handle shutoff, and I hired a handyman to do this as I was nervous about the main water line.

He did it wrong, apparently.
When the city inspector looked at the apartment before renting it out, he pointed out that the guy put a piece of black iron pipe in the fittings. It will rust, he said. But, with the diameter of that pipe you won't live long enough for it to be a problem. So I had the shutoff valve, he cleared it, and it was fine.

Until it started rusting.
Here's a recent picture of it. My understanding was the two different kinds of metal (black iron, copper) were reacting causing corrosion.
Here's what happened after I had about 4 plumbers come look at the valve to get some estimates.

- All of them said around $425 in my city. Thats a lot for me, I am just barely getting by. But a failure of the main line would be catastrophic right.
- All of them said it was doable
- Some warned of the risk of working with old galvanized pipe in concrete, and that you'd be in for a big mess if the pipe broke working on it (could cost big bucks). Some said nothing about risk and said it would be doable, pointing out that the fittings are only 5 years old and the last handyman proved the slab is sound, since it didn't break then.

Now I know you think this looks terrible. But let me point out some ways, looks are deceiving.
- It is NOT leaking. It is only beading occasional water, enough to give it surface rust. There is some wet on it, and once I saw a small bead of water. Nothing on the floor.
- It has not changed one but in at least 6 months
- It looks much worse in the picture than in real life, due to the flash. So much so that when I showed a plumber a picture of it 6 months ago, he said, "It looks worse in this picture than it does now".
- Two plumbers have both said they see no elecrical corrosion. Instead, its leaking from one of the fittings.
- The last plumber I talked to said, "If it was me, I would just put silicone around the leak and leave it. This type of leak sometimes may even heal itself. You can spend $425 and open up a can of worms if that pipe in the slab gets broken. "
He said my worry about catastrophic failure, where the tenant calls saying its shooting water and the apartment is ruined, and nobody else has water..... doesn't happen in situations like this.


Here's my terrible choice:

- Pay $425 I don't have to replace the valve and fittings, and risk a plumber accidentally breaking the pipe in the slab (I don't know)
- Caulk it with silicone, and just leave it and do nothing, because less is better with old piping.

What would you do here?
 

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Every time the water sits for a hour or two rusty orange water will come out for a little while. Dissimilar piping materials like you have need to separated by a dielectric union.
 
As a property manager, I don't like things that leak. If it is wet from an actual leak, I would get it fixed. If it is just wet from sweating, I would try to reduce the humidity in the building or wrap the pipe. Unchecked moisture can lead to mold issues, which can lead to tenant issues. Mold and tenant issues are more expensive than plumbing repairs.
 
Every time the water sits for a hour or two rusty orange water will come out for a little while. Dissimilar piping materials like you have need to separated by a dielectric union.
There is no rusty water coming out of any of the faucets, and at least two plumbers (I got multiple estimates) said there was no corrosion due to dissimilar metals showing. They said it was a seep leak. This can happen, from what I understand, when two different kinds of metals expand and contract at different rates and the pipe dope dries out, allowing a trickle to come through.

@Storm rider of course I absolutely understand the "I'd get it fixed", but did you see what I said about the potential risks of trying to cut 1930 galvanized pipe in a slab? It seems the risk involved in fixing may outweigh simply plugging the leak.
I'm interested though if any plumbers have anything to say about this plumbers recommendation of using 100% silicone which according to them can seal a weeping leak like this, but still alow it to be easily removed if the day ever comes I want to risk taking the pipe apart and replacing the valve.
Plumbers epoxy would be stronger yes, but that I think would greatly complicate any future removal and replacement of the valve as well as making it more risky and expensive. Fixing a simple weep by replacing the valve, if working on the pipe causes it to break under the cement, could easily lead into the thousands to have to put a new supply line in.

Unhelpfully, one AI told me that 100% silicone contains acetic acid that will "Drastically increase the leak", whereas another told me this was nonsense, the acetic acid is minimal and evaporates, silicone is the safest way to go.

Thoughts, anybody?
 
Trying to stop a city water leak with silicone adhesive on the outside is not going to work.

I would doubt "plumber's epoxy" would work on that either, but I cannot be sure.
 
A leak is a leak, seeping or not. The bigger issue is the iron pipe that will rust through and corrode relatively quickly. Silicone will not stop the leak. Whoever told you that is not a plumber, most likely a handyman. The condition of the pipe in the slab and at the valve will not improve by waiting. Currently you are just prolonging the inevitable.
 
the nipple on top might very well be brass it would be black now put magnet on it. the place needs work and you cant or wont do the work . 450 dollars ? what if the roof leaks or water heater quits ? you might concider how your going to maintain the property in future it might not be feasable to own this
 
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