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Ritzy NYC Tower Developer Says Residents’ Lawsuit ‘Ill-Advised’

  • Condo board alleges Billionaire’s Row skyscraper design flaws
  • Builders call building a ‘treasure’ with ‘maintenance issues’
A residential skyscraper at 432 Park Avenue in New York City.
A residential skyscraper at 432 Park Avenue in New York City.

The developers of a Manhattan skyscraper that has become one of New York City’s toniest residences said the condo board is trying to squeeze money out of them with a lawsuit that claims bogus design flaws.

The board is seeking $250 million from builders of the 1,396-foot residential tower at 432 Park Avenue that opened in 2015 on the so-called Billionaire’s Row. Their suit alleges the company that developers CIM Group and Macklowe Properties formed to build the structure failed to take into account its unusual height, leading to flooding, noise, vibrations and elevators that are prone to malfunctions.