The anonymous buyer of unit 84B cited a “catastrophic water flood” that caused major damage to the 83rd to 86th floors in 2016 as grounds to back out of the deal. Reached by phone, Czarnecki said he was “not at liberty to comment.”Īfter the first incident, water seeped into Abramovich’s apartment several floors below the leak, causing an estimated $500,000 in damage, she said. Four days later, a “water line failure” on the 74th floor caused water to enter elevator shafts, removing two of the four residential elevators from service for weeks.īoth events occurred on mechanical floors that have been criticized for being excessively tall - a design feature that allowed the developers to build higher than would otherwise have been permitted, because mechanical floors do not count against the building’s allowable size. 22, was caused by a “blown” flange, a ribbed collar that connects piping, around a high-pressure water feed on the 60th floor. There have been a number of floods in the building, including two leaks in November 2018 that the general manager of the building, Len Czarnecki, acknowledged in emails to residents. “That’s how I went up to my hoity-toity apartment before closing.” “They put me in a freight elevator surrounded by steel plates and plywood, with a hard-hat operator,” she said. She was disappointed with her purchase on day one, she said, when she left her home in London in early 2016 to move into what she expected to be a completed apartment, and found that both her unit and the building were still under construction.
The construction manager, Lendlease, said in a statement that they “have been in contact” with the developers, “regarding some comments from tenants, which we are currently evaluating.”Ībramovich and her husband, Mikhail, retired business owners who worked in the oil and gas business, bought a high-floor, 3,500-square-foot apartment at the tower for nearly $17 million in 2016, to have a secondary home near their adult children. Macklowe Properties, the other developer, declined to comment. “Like all new construction, there were maintenance and close-out items during that period,” they said. (Developers typically control condo boards in the first few years of operation.) “They’re still billing it as God’s gift to the world, and it’s not.”ĬIM Group, one of the developers, said in a statement that the building “is a successfully designed, constructed and virtually sold-out project,” and that they are “working collaboratively” with the condo board, which was run by the developers until January when residents were elected and took control. “I was convinced it would be the best building in New York,” said Sarina Abramovich, one of the earliest residents of 432 Park.
#Downside life tower creaks breaks how to
Now, correspondence between residents, some of the richest and most influential people in the world, reveal thorny arguments over how to remedy the problems without tanking property values. Jennifer Lopez and Alex Rodriguez bought a 4,000-square-foot apartment there for $15.3 million in 2018, and sold about a year later.
The 96th floor penthouse at the top of the building sold in 2016 for nearly $88 million to a company representing Saudi retail magnate Fawaz Alhokair. The building, a slender tower that critics have likened to a middle finger because of its contentious height, is mostly sold out, with a projected value of $3.1 billion. The disputes at 432 Park also highlight a rarely seen view of New York’s so-called Billionaire’s Row, a stretch of supertall towers near Central Park that redefined the city skyline, and where the identities of virtually all the buyers were concealed by shell companies. It has already been surpassed by a newcomer on New York’s Billionaire’s Row in Midtown Manhattan, but it remains one of the most expensive apartment buildings in the world. The tower at 432 Park Ave., far left, became the tallest residential building in the world in 2015. Engineers privy to some of the disputes say many of the same issues are occurring quietly in other new towers.
Less than a decade after a spate of record-breaking condo towers reached new heights in New York, the first reports of defects and complaints are beginning to emerge, raising concerns that some of the construction methods and materials used have not lived up to the engineering breakthroughs that only recently enabled 1,000-foot-high trophy apartments.
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