She also denied claims that she might have a conflict of interest in running for the board. Jacqueline Finkelstein-Lebow, the principal of JSF Capital, a real estate investment firm, and a homeowner who recently won a seat on the board, called other residents’ attempts to “lawyer up” against the developers misguided, in a letter to residents. Residents have been divided on how to address the building’s problems. Slinin, in a phone call, subsequently downplayed the SBI findings, saying that the mechanical issues “were minor things.” SBI did not respond to email or calls for comment. Initial findings showed that 73 percent of mechanical, electrical and plumbing components observed failed to conform with the developers’ drawings, and that almost a quarter “presented actual life safety issues,” Mr. The group commissioned SBI Consultants, an engineering firm, to study mechanical and structural issues. Slinin, the president of Corporate Transportation Group, said he was working with about 40 “concerned unit owners,” out of about 103 units, not including staff apartments, to rein in costs and address possibly dangerous conditions in the building. The residents, many of whom live elsewhere most of the year, have splintered into groups. When the building opened in late 2015, homeowners were required to spend $1,200 a year on the service in 2021, that requirement jumps to $15,000, despite limited hours of operation because of the pandemic. Some residents also railed against surging fees at the building’s private restaurant, overseen by the Michelin-star chef, Shaun Hergatt. The insurance hike was partly because of a sprinkler discharge and two “water related incidents” in 2018 that cost the building about $9.7 million in covered losses, according to a letter from the residential board of managers. After the building's completion, residents complained of mechanical and structural problems, leading to a lawsuit in late 2021.Eduard Slinin, a resident who was elected to the condo board late last year, wrote a letter to neighbors in 2020 reporting that the building’s insurance costs had increased 300 percent in two years. Sales within 432 Park Avenue were launched in 2013 the building topped out during October 2014 and was officially completed in 2015. Construction plans were approved for 432 Park Avenue in 2011 and excavations began the next year. The project faced delays for five years because of lack of financing as well as difficulties in acquiring the properties on the site. The skyscraper has received mixed reviews from both professionals and the public, with commentary about both its slenderness and its symbolism as a residence for the ultra-wealthy.Ĥ32 Park Avenue is located on the site of the former Drake Hotel, which was sold to Macklowe in 2006. It features 125 condominiums and amenities such as a private restaurant for residents. The tower is segmented into 12-story blocks separated by open double-story mechanical spaces that allow wind gusts to pass through the building. The tower's exterior is a lattice of poured-in-place concrete made from white Portland cement. Rafael Viñoly and SLCE Architects, LLPĤ32 Park Avenue has 84 numbered stories and a mezzanine above ground.
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