SUPER RICH RESIDENTS FIND THEMSELVES SUING OVER LUXURY TOWER SHODDINESS
So in most cities around the world, luxury condo and apartment buildings have popped up, reflecting the crazy amount the super rich folks’ disposable income has exploded to. And New York City has a few of their own, including the soon to be notorious 432 Park Avenue, which is in the picture above. I’ve heard of bad investments, but this building may take the cake, if the complaints of the resident owners are on the up and up. They say the construction of the building represents a level of shoddiness they simply can’t believe. I wish I was more surprised, but if you build it the super rich will buy.
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SKINNY BUILDING FOR SUPER RICH SWAYS IN WIND SO MUCH, ELEVATORS TURN OFF
So if you look at that picture above, you’ll see that the building is very, very skinny but also quite tall. Normally, that shouldn’t be a problem if the structural engineers and the architects talk properly during design. Like the old Twin Towers, this building sways in the wind. But unlike the Twin Towers, this building doesn’t do so well with that sway. I mean, seriously, when the building sways too much the elevators shut down. And yes, that means with any unlucky, super rich residents trapped inside. I can’t imagine that’s too uplifting in a tall building.
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SUPER RICH RESIDENTS SICK OF NOISE, FLOODS AND WALKING STAIRS IN LUXURY HIGH-RISE
So what else is there in the legal complaint? Well, badly installed and flawed plumbing. And we’re talking about bad floods on higher floors as well as the sub-basement. 35 units had flooding damage as did common areas. And yes, one flood took two of the elevators out of service for weeks. So much for needing stair master. But sound and vibrations are also an issue. Just think about those paper thin walls from your college dorm and you’ll get the idea. But your college dorm didn’t cost you over 10, 20 or more millions of dollars.
I guess we’ll see where this lawsuit goes! And maybe see if there’s a sudden fire sale on the real estate market next year…..