Uber-rich residents of one of NYC’s tallest luxury towers sue for $250m because they hate it

Residents of one of the most expensive buildings in New York City are suing developers for its “intolerable” living conditions after more than 15,000 defects were reported.

A lawsuit was filed in New York Supreme Court on Thursday, according to reports, by homeowners at 432 Park Avenue, one of the world’s tallest residential buildings. The 85-floor tower opened in 2015 and is located along so-called “Billionaire Row” by Central Park in Manhattan.

The building’s developers are being sued for punitive damages of $250million after reports of leaks, noise and flooding - which a chairman admitted was “intolerable”, according to the condominium owners.

The residents also allege that developers are at fault for building the tower so high, leading to the 15,000 defects that they argue are “life safety issues”.

According to court documents, the plaintiffs stated: “The elevators have also repeatedly shut down entirely, trapping residents and unit owner family members”. At times, residents allegedly waited for more than hour for rescue.

The developers, CIM Group and Macklowe Properties, are named in the lawsuit, along with a company formed by the developers to build the tower.

Earlier this year, some residents toldThe New York Times that a rubbish chute made noises not dissimilar to that of “a bomb” when garbage was sent down it.

There were also complaints of creaking and banging in corridors, believed to be linked to the building’s 1,396-feet height.

The Independent has sought comment from CIM Group and Macklowe Properties.

The building’s sponsor, 56th and Park Owner LLC, defended the structure in a statement to Bloomberg.

“Virtually all new construction has maintenance and close-out items during the building’s initial period of occupancy,” the sponsor said, adding that it “has been and remains committed to working collaboratively with” residents.

Apartments at 432 Park Avenue have sold for as much as $88m, according to The Times. Among those who have bought units were Jennifer Lopez and Alex Rodriguez, who paid $15.3m for an apartment in 2018 which they sold a year later.