Famed Manhattan Skyscraper Developer Sued for $125 Million, Plus Damages

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In a complaint filed last week, the condo board of 432 Park Avenue says that more than 1,500 construction errors, some deemed to be “life safety issues,” riddle their 96-story building. The building once stood as a media darling with celebrity tenants such as Jennifer Lopez and Alex Rodriguez.

The board says that flooding, electrical explosions, stalled elevators, and “horrible and obtrusive noise and vibrations” caused by the tower’s swaying occur. They claim that poor quality and planning caused these faults. For example, the filing states that even throwing trash down the garbage chute “sounds like a bomb.”

The lawsuit seeks $125 million plus punitive damages against CIM Group and Macklowe Properties. Lawyers blame Harry Macklowe, CEO.

Sarina Abramovich, a resident who purchased her apartment for $17 million in 2016, says that a water leak caused $500,000 in damage three years ago.

“Everything here was camouflaged,” Abramovich told the New York Times in February. “If I knew then what I know now, I would have never bought.”

The suit accuses CIM and Macklowe of “one of the worst examples of sponsor malfeasance in the development of a luxury condominium in the history of New York City. These defects are so severe that some residents have been completely displaced from their units for periods in excess of 19 months while the sponsor half-heartedly attempted to fix the problems.”

A spokesman for the defendants states: “each and every commitment and term contained in the 432 Park Offering Plan and Declaration has been honored.”

Amid alleged building defects, plaintive tenants of 432 Park Avenue hope for a positive outcome from their suit against CIM Group and Macklowe Properties, the sponsors of their New York luxury condominiums.

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