![]() In October 2019, management at 432 Park told tenants that one of their fellow residents was ‘entrapped’ for nearly 90 minutes after ‘high-wind condition’ forced the elevator to get stuck. The lawsuit was settled quietly a year later.Īccording to engineers, the problems affecting 432 Park Avenue have become commonplace at other residential skyscrapers where severe wind gusts at higher altitudes cause the buildings to sway. When the buyer, a member of the Beckmann family, which owns the Jose Cuervo tequila brand, tried to back out of the deal, they were sued. The buyer of unit 84B, who chose to remain anonymous, was in contract for $46.25million in 2016 when a ‘catastrophic water flood’ caused major damage to units on the 83rd, 84th, 85th, and 86th floors. Other residents have also said that their properties suffered severe, costly damage as a result of maintenance issues. The other developer, Macklowe Properties, declined to comment. ‘Like all new construction, there were maintenance and close-out items during that period,’ the board said. One of the building’s developers, CIM Group, told the Times that the structure ‘is a successfully designed, constructed and virtually sold-out project’ and that the firm is ‘working collaboratively’ with the condo board. The damage forced two of the four residential elevators to be out of service for weeks. Just four days later, the building general manager reported a ‘water line failure’ in which water leaked into the elevator shafts. On November 22, 2018, a flange, which is a ribbed collar that connects piping, burst around a high-pressure water feed on the 60th floor, causing a flood.Ībramovich said that water seeped into her apartment several floors below the leak, causing some $500,000 in damage. The building has suffered from several leaks and floods, two of which were reported in November 2018, according to the Times. Things just kept getting worse from there, according to Abramovich. ‘That’s how I went up to my hoity-toity apartment before closing.’ ‘They put me in a freight elevator surrounded by steel plates and plywood, with a hard-hat operator,’ she said. The complex includes free weights, treadmills, benches, and other exercise equipment There is even a large gym for the famously in-shape couple. When she arrived at her new residence on the first day, she was shocked to see that both her new apartment and other parts of the building were still under construction. One tenant, Sarina Abramovich, told the Times that she and her husband, Mikhail, paid almost $17million for a 3,500sq ft apartment on one of the high floors in the building in 2016. Of the 125 condominium units in the building, just two are now available for sale, according to the official web site for the property.ĭespite the glamorous image, however, residents and developers behind the skyscraper that cost $1.5billion to build are blaming each other for shoddy maintenance issues that are not uncommon in more run-down, older apartments, according to The New York Times. In 2016, the penthouse on the 96th floor was bought by Saudi billionaire Fawaz Alhokair for almost $88million. According to Page Six, the couple did not have any complaints about the building. They decided to sell the property because they reportedly wanted something bigger for their four children. The couple bought a 4,000 square foot unit in 2018 for $15.3million – only to sell about a year later for $17.5million. The two bought a 4,000 square foot unit in 2018 for $15.3million – only to sell it the next year for $17.5million Among the famous celebrities who bought properties at 432 Park Avenue are Jennifer Lopez and Alex Rodriguez (seen above in New York in 2018).
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