Billionaire Row Condo Board Sues Developers Over 1,500 Building Defects

Condos city skyline

Tony tower plagued by flooding, stuck elevators and vibrations. Building sponsor says tower has performed remarkably well.

September 29, 2021
Robert Burnson, Bloomberg

The condo board at one of New York’s tallest and toniest towers sued the building’s developers, claiming design flaws are to blame for flooding, stuck elevators and “horrible and obtrusive noise and vibration.”

The residential tower at 432 Park Avenue is a 1,396-foot skyscraper overlooking Central Park that was opened in 2015 on the city’s so-called Billionaire Row.

The condo board claims its engineering consultant has identified more than 1,500 construction and design defects — “many of which are described as life safety issues.”

The board that represents the condo owners sued the developers, CIM Group and Macklowe Properties, and the company, also known as sponsor, that the developers formed to build the tower.

The board is seeking $250 million, plus punitive damages, in the lawsuit, filed Thursday in New York Supreme Court.


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