Residents of the supertall tower at 432 Park Avenue have sued the developers for $125 million, alleging “multiple floods, faulty elevators, ‘intolerable’ noise caused by building sway, and an electrical explosion in June — the second in three years — that knocked out power to residents,” the New York Times reported on Sept. 24.
Rafael Viñoly Architects designed the nearly 1,400-ft. tall tower for developers CIM Group and Macklowe Properties. Damages could rise even higher, according to Jonathan Adelsberg, a partner at Herrick Feinstein, which is representing the condo board, which residents took over from the sponsor in 2020. The lawsuit was filed on Sept. 23.
The structure was built in 2015 with a projected sell-out value of $3.1 billion.
“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 complaint filed with New York State Supreme Court says.
“The damages include the estimated cost to repair some 1,500 construction and design defects in common elements of the building that were identified by an engineering firm hired by the condo board; it does not include potential punitive damages, or separate lawsuits that individual residents might file,” the NYT reports.
“It’s almost like peeling an onion,” he said, referring to defects that may yet be uncovered. “This is a work in progress in ascertaining what’s wrong.”
“Each and every commitment and term contained in the 432 Park Offering Plan and Declaration has been honored,” a spokesman for the sponsor, which includes CIM Group, said in a statement, adding that some of the remaining “maintenance and close-out items” have been obstructed by the condo board.
Macklowe Properties, the other developer, did not return requests for comment by the newspaper.
Lendlease (US) Construction LMB Inc. was the building’s general contractor and construction manager. WSP and Parsons Brinckerhoff were the project’s structural and MEP engineers.
