Owners of luxury condos at 432 Park Avenue, one of New York City's tallest residential buildings, have filed a lawsuit against the developers, alleging that critical structural defects were deliberately hidden. The lawsuit, filed by the building's condo board, claims that the developers failed to disclose the extent of early cracks and other problems to prospective buyers and city inspectors.
The board alleges that the developers were aware of these issues long before the building was completed and occupied. They argue that the failure to disclose these problems constitutes negligence and breach of contract. The lawsuit further contends that the undisclosed defects could compromise the building's structural integrity and safety, potentially impacting property values.
The suit seeks compensation for the cost of repairing the defects and for damages related to the alleged deception. The condo board claims that residents have already incurred significant expenses addressing some of the issues. The lawsuit raises questions about transparency in the construction of supertall buildings and the responsibility of developers to disclose potential problems to buyers and regulators. The developers have not yet issued a formal response to the lawsuit.
432 Park Avenue Condo Owners Sue Over Hidden Building Defects
Owners at the exclusive 432 Park Avenue skyscraper are suing the developers, alleging they concealed serious structural defects. The lawsuit claims the building's board discovered early cracks and other issues were not properly disclosed to potential buyers or city officials. Residents worry these problems could affect the building's safety and value. The condo board is seeking compensation for the repairs and damages caused by the alleged negligence.