A condominium board representing the residents of one of many tallest and ritziest buildings on Manhattan’s Billionaires’ Row have sued the builders of the ultra-luxe constructing, alleging that over 1,500 design flaws have led to flooding, electrical explosions and “horrible and obtrusive noise and vibration.”
The board accused the builders of the 1,396-foot skyscraper at 432 Park Ave. for failing to correctly design the constructing and refusing to take accountability for points which have “endangered and inconvenienced residents, guests, and workers,” in accordance with the swimsuit, filed Thursday night in New York Supreme Court.
“This case presents one of the worst examples of sponsor malfeasance in the development of a luxury condominium in the history of New York City,” the swimsuit claims, referring to the constructing’s builders, CIM Group and Macklowe Properties.
“What was promised as one of the finest condominiums in the City was instead delivered riddled with over 1500 identified construction and design defects to the common elements of the Building alone (leaving aside the numerous defects within individual units),” the swimsuit goes on.
The hovering tower, simply south of Central Park, is among the many tallest buildings in New York City and one of the crucial costly addresses on the earth. It was designed by the agency of star architect Rafael Vinoly and opened in 2015.
The constructing, which as soon as boasted an eye-popping estimated sellout worth of $3.1 billion, was constructed as a part of a growth within the NYC ultra-luxe condominium market.
Top gross sales within the constructing got here from an nameless purchaser in 2019 who bought three items on the 92nd and 93rd flooring for a whopping $91.12 million, The Post beforehand reported.
And it’s drawn celeb consumers like then-couple Jennifer Lopez and Aaron Rodriguez who bought their 4,000-square-foot pad within the Midtown tower for nearly $2 million beneath the asking value in 2019.
But now, residents on the tower really feel ripped off — to the tune of $250 million that they’re suing for — the swimsuit says.
“Unit owners paid tens of millions of dollars to acquire units. Far from the ultraluxury spaces that they were promised, however, Unit Owners were sold a building plagued by breakdowns and failures that have endangered and inconvenienced residents, guests, and workers, and repeatedly been the subject of highly critical accounts in the press and social media,” in accordance with the grievance.
After the constructing’s sponsor, 56th and Park Owner LLC, allegedly failed to answer residents’ complaints, the board employed an engineering marketing consultant to research the constructing in early 2019, the swimsuit says.
The board-hired marketing consultant recognized greater than 1,500 development and design defects within the constructing — “many of which are described as life safety issues,” in accordance with the swimsuit.
At the core of the difficulty is the builders’ failure from the start to account for the 96-story tower’s “remarkable height,” which has led to repeated flooding, noise and vibration, the swimsuit says.
Richard Ressler, chairman of CIM, one of many constructing’s builders, admitted that the vibration points have been “intolerable,” making it troublesome to sleep during times of even reasonably inclement climate,” the swimsuit alleges.
The board additionally recognized the elevators as a essential difficulty, saying that they’ve “repeatedly shut down entirely, trapping residents and unit owner family members.”
“On multiple occasions residents and family members have been trapped in elevators that have shut down for hours while awaiting rescue,” the swimsuit says.
The board additionally alleged that the constructing has suffered from “multiple incidents of severe flooding and widespread water damage” resulting from what it described within the swimsuit as poor oversight of contractors.”
And the failure of the constructing’s sponsor to “mark the locations of electrical wiring buried in concrete” within the constructing has allegedly led to 2 electrical explosions prior to now three years, the swimsuit says.
Residents have borne the brunt of the monetary accountability of responding to the incidents whereas the constructing’s builders “dickered with its contractors and insurance carriers over” who was on the hook for the invoice, the swimsuit says.
Representatives for CIM and Macklowe Properties didn’t return The Post’s request for remark.