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On NYC's Billionaires' Row, a 'Far-Reaching Fraud'

By Jenn Gidman

On NYC's Billionaires' Row, a 'Far-Reaching Fraud'

Condo owners sue over condition of building at 432 Park Ave., which they say has 'thousands' of cracks

In 2015, the nearly 1,400-foot-tall high rise at 432 Park Avenue was completed, a luxury "pencil tower" to join the others dotting the Manhattan skyline, including on so-called Billionaires' Row. Now, owners of condo units at that address are suing, claiming the skyscraper is plagued by various flaws, including "thousands" of bad cracks that threaten the integrity of the structure once called "the building of the 21st century" by its developer. Per CNN, the complaint filed last month in New York Supreme Court against real estate firm CIM Group, as well as engineers and architects involved in the build, alleges "far-reaching fraud" for ignoring and covering up these supposed issues, some of which they say has led to flooding of their multimillion-dollar purchases.

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