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When Luxury Leaks

  • By: The Real Deal, Quoted "Stephen Lasser"
  • Published: May 1, 2018

New high-end NYC condos are seeing an uptick in construction defects — from warped floors to fireproofing problems — and another wave of complaints could be coming

Not long after closing on a $28.5 million pad at 56 Leonard last spring, the new owner had a problem. More than one, actually.

The master bathroom allegedly had poor caulking, the deadbolts weren’t working properly, and the apartment’s oak floors were starting to warp. When the owner’s contractor tore up the floor, he discovered three layers of wood under the oak — which appeared to have been laid “to conceal defects underneath,” according to a lawsuit filed in March.

In the suit, the plaintiff, an entity tied to New Jersey trucking mogul Ronald Dana accused the developers, Alexico Group and Hines, of failing to deliver on certain promises — such as soaring 14-foot ceilings, a private elevator, a breakfast bar and an electronic curtain system for the apartment’s floor-to-ceilings windows, a marquee feature of the Jenga-like tower. Download PDF