![]() ![]() THE DOWNSIDE TOWER LEAKS CREAKS BREAKS FULLIn May, a three-bedroom apartment at 220 Central Park South, thought to be the city’s most expensive residence, sold for $33 million, the full asking price and almost a quarter more than the seller paid for the property in 2019. 22, was caused by a blown flange, a ribbed collar that connects piping, around a high-pressure water feed on the 60th floor. Update: its apparently not even a competent building. Recent data indicates the city is beginning to buck the trend. There have been a number of floods in the building, including two leaks in November 2018 that the general manager of the building, Len Czarnecki, acknowledged in emails to residents. Prices range from 17 million to 95 million for the penthouse. According to the WSJ, the pandemic and concurrent anti-racism protests in the city hurt high-priced New York real estate even more than the September 11 terrorist attacks. ![]() Key Details 432 Park has experienced millions of dollars in flood damage, including a water line failure that breached the elevator shafts. ![]() Luxury real estate appears to be on the rise again after being battered during the coronavirus pandemic. Despite paying exorbitant prices to live high in the clouds, residents of the 1,396-foot-tall tower at 432 Park Avenue experience a slew of problems, according to documents obtained by the New York Times. He made his fortune in real estate and retail. The downside of living in a supertall tower: leaks, creaks, breaks Eduard Slinin, a resident who was elected to the condominium board late last year, wrote a letter to neighbors in 2020 indicating that building insurance costs had increased 300 in two years. a stretch of supertall towers near Central Park that redefined the city skyline. The Downside to Life in a Supertall Tower: Leaks, Creaks, Breaks chad1234 to Late Stage Capitalism rok 3 Comments. TangentĪlhokair was estimated by Forbes to be worth $1.7 billion in 2017 but has since been left off the annual billionaires’ list over an ambiguity of his assets. The Downside to Life in a Supertall Tower: Leaks, Creaks, Breaks. A spokesperson for the Alhokair Group did not immediately respond to a Forbes request for comment. 432 Park has experienced millions of dollars in flood damage, including a water line failure that breached the elevator shafts. ![]()
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