


The mood in the building could be described as tense. While one of the developers maintains that 432 Park “is a successfully designed, constructed and virtually sold-out project” - or so the firm told the Times in a statement - residents charge that the building is in shambles and that they shouldn’t be forced to cover its myriad problems through insurance and common-charge hikes. This isn’t a neat residents-vs.-developers narrative, though, as the former are anything but a unified front. According to Sarina Abramovich, who bought a $17 million apartment in 2016 so she and her husband could have a second home close to their children, “Everybody hates each other here.The Down Side to Life in a Supertall Tower: Leaks, Creaks, Breaks432 Park, one of the wealthiest addresses in the world, faces some significant design problems, and other luxury high-rises may share its fate. The nearly 1,400-foot tower at 432 Park Avenue, briefly the tallest residential building in the world, was the pinnacle of New York’s luxury condo boom half a decade ago, fueled largely by foreign buyers seeking discretion and big returns. Six years later, residents of the exclusive tower are now at odds with the developers, and each other, making clear that even multimillion-dollar price tags do not guarantee problem-free living. The claims include: millions of dollars of water damage from plumbing and mechanical issues frequent elevator malfunctions and walls that creak like the galley of a ship - all of which may be connected to the building’s main selling point: its immense height, according to homeowners, engineers and documents obtained by The New York Times.
