The condo board of a luxury tower at 432 Park Avenue in New York is suing the developers for over $165 million, claiming they committed fraud by not disclosing significant cracks in the building's façade. This lawsuit, filed in Manhattan, alleges that CIM Group and associated engineering and architectural firms knew about the issue but neglected it to protect their financial interests. With nearly 1,900 defects reported, the board's lawyer emphasizes that this goes beyond negligence, pointing to a calculated scheme that jeopardizes safety and trust.
The condo board at 432 Park Avenue is suing developers for over $165 million, alleging fraud over undisclosed facade cracks that threaten the building's integrity.
The lawsuit claims developers knew about facade defects but chose to cover them up, prioritizing profits over safety, leading to their being charged with calculated fraud.
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