Lawsuit Casts Shadow Over Billionaires’ Row Supertall

A lawsuit filed by owners of condominiums in the 96-story, 1,296-ft-tall 432 Park Avenue on Billionaires’ Row in Manhattan is casting a shadow over the future of one of the Big Apple’s most-luxurious buildings, the Daily Mail is among outlets to report. They allege faulty elevators, leaking plumbing and noise issues, and the lawsuit has created approximately 4 million pages of court documents since it was filed in 2021. Developer CIM Group describes the litigation as full of “falsehoods and hyperbole,” going on to state that “432 Park Avenue is Manhattan’s premier residence, the result of hiring a world-renowned architect (Rafel Viñoly), a best-in-class builder and innovative and experienced engineers.” Schindler said it supplied 11 elevators and two escalators for the property. Fourteen percent (or 18) of 432 Park Avenue’s 104 units were for sale. Publicly listed condos that were recently sold fetched a “staggering 27.4% less than their highest asking price,” the source observed, citing The Wall Street Journal.