Owners of units at 432 Park Ave. are suing developers for allegedly concealing serious structural defects that threaten the building's safety. Claims of a long-standing cover-up include accusations of deliberate fraud by CIM Group and Macklowe Properties, who, despite internal warnings, proceeded with construction knowing the concrete mix was flawed. Two lawsuits, filed in 2021 and April 2025, highlight the emergence of cracks and significant issues that pose risks to residents. Attorney Terrence Oved stated that the situation reflects a breach of trust driven by greed, undermining the integrity of the high-profile development.
"This matter extends beyond negligence into an alleged calculated scheme, driven by greed, that eroded trust..."
"It is difficult to know the impact of cracking in a fully loaded building..."
"Both cautions were allegedly dismissed."
"Problems ranged from surface blemishes to 'large voids, spalls of unknown origin...'"
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