NYC Billionaires Row Condo Board Sues for US$125 Million

The condo board of the pencil-thin, Rafael Viñoly-designed NYC Billionaires Row supertall 432 Park Avenue sued the tower’s developers on September 23 for US$125 million, citing a litany of issues that includes elevator breakdowns resulting in residents being trapped for hours “on several occasions,” The Irish Times is among outlets to report, citing The New York Times. Elevator malfunctions were caused, at least in part, by building sway that occurs in towers of such height, according to the suit, which also says a flood disabled two residential elevators “for weeks.” Built in 2015, the 125-unit 432 Park Avenue stands 1,396 ft with 85 stories, including two below ground. It is the second-tallest building in NYC behind One World Trade Center and houses condos priced at up to US$169 million. Besides elevator issues, the suit cites “intolerable” noise, flooding and leaks. One of the two developers said that “each and every commitment and term” in the development “has been honored.” The suit alleges a “band-aid” approach to repairs, and estimates the price tag to properly address them at US$125 million.