Apartment owners at 432 Park Avenue, a luxury Manhattan skyscraper, are suing its developers and engineering firms for allegedly concealing serious structural defects that have led to extensive water damage and impacted property values. The condo board claims the tower, completed in 2015, has experienced multiple leaks and other construction issues. They seek over $165 million in damages. The tower, praised by its developer as the 21st-century building, now faces severe scrutiny over these allegations and the overall quality of luxury high-rise developments in New York City.
The condo board at 432 Park Avenue is suing developers for allegedly hiding serious structural defects, including thousands of severe cracks affecting the building's integrity and value.
Condo owners are seeking over $165 million in damages, claiming the developers and associated engineering firms failed to disclose extensive damage that has led to significant problems, including flooding.
The slender skyscraper, completed in 2015, has faced complaints from owners about numerous construction flaws and has experienced over 20 reported water leaks since 2017.
The allegations raise concerns about the management and quality of high-rise luxury developments in Manhattan, particularly regarding safety and transparency from developers.
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