The Downside to Life in a Supertall Tower: Leaks, Creaks, Breaks

Resident Eduard Slinin, who was elected to the condo board late last year, wrote a letter to neighbors in 2020 stating that the building’s insurance costs had risen 300 percent in two years. The insurance increase was partly due to one residential discharge and two “water-related incidents” in 2018, which cost the residential losses about $ 9.7 million, according to a letter from the Residential Board of Managers.

Some residents objected to the fee being raised at the building’s private restaurant, inspected by Michelin-star chef, Sean Hergt. When the building opened in late 2015, homeowners were required to spend $ 1,200 per year on service; In 2021, this requirement increases to $ 15,000, despite limited hours of operation due to the epidemic. And breakfast is no longer free.

The inhabitants, many of whom live in most places of the year, are scattered in groups. In a letter to his residents, Mr. Slinnin, president of the Corporate Transportation Group, said that they are working with 40 of the “concerned unit owners”, not including staff apartments, out of about 40 units to rein in costs. Conditions in the building.

The group formed an engineering firm SBI Consultants to study mechanical and structural issues. Preliminary findings showed that 73 percent of the observed mechanical, electrical and plumbing components failed to conform to the developers’ drawing, and about a quarter “presented real-life safety issues”, Mr. Slinin wrote.

SBI did not respond to emails or calls for comment. Mr. Slinin, in a phone call, later quashed SBI’s findings, saying the mechanical issues were “minor issues.”

Residents are divided on how to address building problems. Jasleen Finkelstein-Lebo, head of JSF Capital, a real estate investment firm and owner of a house that recently won a seat on the board, in a letter to residents to “advocate” against misleading developers over other residents Called for efforts. He also claimed that there could be a conflict of interest in running him for the board. She married Bennett Lebow, president of Vector Group, a holding company that controls Douglas Elliman Real Estate – the brokerage that led to sales at 432 Park. Howard Lobar, executive chairman of Douglas Elliman, is also a resident.

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