The exterior of the building, which opened in 2015, is pockmarked and gouged, riddled with hundreds of cracks that suggest the slender structure is being overtaxed by wind and rain, according to independent engineering experts, construction reports and court filings. If the problems are not addressed, probably with a nine-figure renovation, the building could eventually become uninhabitable or endanger pedestrians below, the engineers said.
In all, the problems at 432 Park could cost over $100 million to remedy, according to engineering reports that the condo board commissioned and the independent engineers who reviewed the tower’s condition.
“A 10-year-old building should not be showing that level of deterioration,” said Mr. Torero, who has studied construction defects in skyscrapers across the world and reviewed materials related to 432 Park at The Times’s request. “Nobody can argue that that is not a failure.”
https://www.wsj.com/real-estate/luxury-homes/harry-macklowe-432-park-avenue-apartment-31c788e4
The developer of the embattled Manhattan condo tower 432 Park Avenue has made a deal to sell a full-floor spread that once belonged to its partner on the project, the legendary New York property magnate Harry Macklowe. The deal, for more than $50 million, caps a saga that has captured the attention of the New York real-estate world.
