Condo Owners Sue Over Cracks In NYC “Supertall”

May 5, 2025 Business, New York City

The New York Times reports:

The condo board at a troubled 1,400-foot luxury tower on New York City’s Billionaires’ Row is accusing developers of “deliberate and far-reaching fraud” by failing to disclose early cracks in the facade that it says could lead to dangerous structural issues.

Condo board members say that CIM Group and other developers of 432 Park Avenue failed to alert potential buyers and city inspectors about the severity of cracks in the signature white concrete facade that also “acts as a critical component of the building’s structural support,” according to a new lawsuit. The building opened in 2015.

The lawsuit details nearly 1,900 defects that have emerged in the facade of the building, one of several slender apartment buildings known as “supertalls” that dot the Manhattan skyline. Photos in the filing show vein-like cracks and chunks of concrete missing from the facade.

Read the full article. Other complaints include stuck elevators, millions in damage from floods, and excessive swaying due to the tower’s pencil-like structure. In 2023, a penthouse unit sold for $70 million, far below its asking price of $130 million. 432 Park is currently Manhattan’s 5th-tallest building. It has 96 floors.



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