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there will be a ton of lawsuits, but everyone has a lot of insurance.
first of all, the construction company has a builders risk policy probably worth a considerable portion of the project cost. probably a few hundred million.
second there is probably a wrap up policy for the job to cover on site work general liability. all of the contractors are probably enrolled in it and protected by it.
third, the job has a specific policy required by the city for use of a tower crane, thats $80,000,000.00
fourth, the crane user has a policy for the replacement value of the crane that they give to the crane company. that crane, and all the parts is probably worth 4-5 million. they also have their own general liability insurances.
fifth, no doubt the crane company also has their own insurances for general liability. probably 20 million
it will be a mess.
the equipment manufacturer will not get dragged into this, nor will the crane operator - unless it is found that there was negligence on his part.
given the amount of inspections required to put up a tower crane in new york city, and the fact that the city has already said that the paperwork and interval inspection paperwork is up to date, its likely going to be deemed a mechanical failure, unless they find something else in the investigation.
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In the mean time, how long will it be before work resumes on the tower? months? a year?
id had said six months when this happened.
thats probably in the ballpark
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When will construction resume on the building?
I think they are done with cleanup now
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It’s in construction again
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I think I mentioned this before but this one adds a nice change of color to the area similar to 455 10th Ave. It also has a fairly greenish tinted glass, which isnt unusual ,but it does help it stand out that bit more.
Now 460 10th needs to start.
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