• Home
  • News
  • Fortune 500
  • Tech
  • Finance
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
Real Estate

‘Intolerable’ noise and stuck in the elevator for hours: NYC Billionaire Row condo board sues developers over 1,500 defects

By
Robert Burnson
Robert Burnson
and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Robert Burnson
Robert Burnson
and
Bloomberg
Bloomberg
Down Arrow Button Icon
September 24, 2021, 4:32 AM ET
The 432 Park Avenue building in New York City on June 17, 2021.
The 432 Park Avenue building in New York City on June 17, 2021. Victor J. Blue—Bloomberg/Getty Images

The condo board at one of New York’s tallest and toniest towers sued the building’s developers, claiming design flaws are to blame for flooding, stuck elevators and “horrible and obtrusive noise and vibration.”

The residential tower at 432 Park Avenue is a 1,396-foot skyscraper overlooking Central Park that was opened in 2015 on the city’s so-called Billionaire Row.

The condo board claims its engineering consultant has identified more than 1,500 construction and design defects — “many of which are described as life safety issues.”

The board that represents the condo owners sued the developers, CIM Group and Macklowe Properties, and the company, also known as sponsor, that the developers formed to build the tower.

The board is seeking $250 million, plus punitive damages, in the lawsuit, filed Thursday in New York Supreme Court.

The building’s sponsor defended the structure in a statement, describing it as “Manhattan’s premier residence” and saying it has “performed remarkably well.”

“Virtually all new construction has maintenance and close-out items during the building’s initial period of occupancy,” the company said “Sponsor has been and remains committed to working collaboratively with the HOA to resolve these matters.”

CIM declined to comment on the lawsuit. A Macklowe representative didn’t reply to request for comment.

The sponsor also said that the owners had blocked its workers from entering the building to make repairs, “which has delayed completion of certain work.”

The board claims the sponsor, 56th and Park Owner LLC, failed to take into account the tower’s “remarkable height” when designing the building. That failure, it said, resulted in building structures that are to blame for its flooding, noise and vibration.

In an unguarded moment, even the chairman of CIM described the noise and vibration as “intolerable” and said it made “it difficult to sleep during periods of even moderately inclement weather,” the board said in the complaint.

The owners also complain about the elevators. They are programmed to slow down when the building is buffeted by high winds. But they do more than that, the board said. “The elevators have also repeatedly shut down entirely, trapping residents and unit owner family members,” it said. “On multiple occasions residents and family members have been trapped in elevators that have shut down for hours while awaiting rescue.”

The case is Board of Managers of the 432 Park Condominium v. 56th and Park (NY) Owner, LLC. New York Supreme Court (New York County).

More must-read business news and analysis from Fortune:

  • Chipmakers to carmakers: Time to get out of the semiconductor Stone Age
  • Where home prices are going next, according to forecast models
  • 3 things to know about Brilliant Earth’s IPO
  • Two new quantum computing breakthroughs reveal the technology’s commercial potential
  • Two weeks later, how is El Salvador’s Bitcoin strategy going?

Subscribe to Fortune Daily to get essential business stories straight to your inbox each morning.

About the Authors
By Robert Burnson
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon

Latest in Real Estate

Travel & LeisureBrainstorm Design
Luxury hotels need to have ‘a point of view’ to attract visitors hungry for experiences, says designer André Fu
By Nicholas GordonDecember 4, 2025
4 hours ago
Zohran Mamdani, in front of a brick building, smiles as he holds a press conference.
Real EstateHousing
‘There is no Mamdani effect’: Manhattan luxury home sales surge after mayoral election, undercutting predictions of doom and escape to Florida
By Sasha RogelbergDecember 4, 2025
12 hours ago
Personal FinanceReal Estate
Current ARM mortgage rates report for Dec. 4, 2025
By Glen Luke FlanaganDecember 4, 2025
23 hours ago
Personal Financemortgages
Current mortgage rates report for Dec. 4, 2025: Rates hold steady
By Glen Luke FlanaganDecember 4, 2025
23 hours ago
Personal FinanceReal Estate
Current refi mortgage rates report for Dec. 4, 2025
By Glen Luke FlanaganDecember 4, 2025
23 hours ago
Personal Financemortgages
Home equity loan vs. home equity line of credit (HELOC)
By Joseph HostetlerDecember 3, 2025
1 day ago

Most Popular

placeholder alt text
Economy
Two months into the new fiscal year and the U.S. government is already spending more than $10 billion a week servicing national debt
By Eleanor PringleDecember 4, 2025
19 hours ago
placeholder alt text
Success
‘Godfather of AI’ says Bill Gates and Elon Musk are right about the future of work—but he predicts mass unemployment is on its way
By Preston ForeDecember 4, 2025
14 hours ago
placeholder alt text
North America
Jeff Bezos and Lauren Sánchez Bezos commit $102.5 million to organizations combating homelessness across the U.S.: ‘This is just the beginning’
By Sydney LakeDecember 2, 2025
3 days ago
placeholder alt text
Success
Nearly 4 million new manufacturing jobs are coming to America as boomers retire—but it's the one trade job Gen Z doesn't want
By Emma BurleighDecember 4, 2025
15 hours ago
placeholder alt text
Success
Nvidia CEO Jensen Huang admits he works 7 days a week, including holidays, in a constant 'state of anxiety' out of fear of going bankrupt
By Jessica CoacciDecember 4, 2025
14 hours ago
placeholder alt text
Health
Bill Gates decries ‘significant reversal in child deaths’ as nearly 5 million kids will die before they turn 5 this year
By Nick LichtenbergDecember 4, 2025
1 day ago
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map

© 2025 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.