Lawsuits against developers and complaints over construction defects at new condos have increased greatly, according to the Times, and are likely to skyrocket over the next couple years. The reasons for the uptick in unhappy owners are obvious—condo fever resulted in plenty of rushed, problem-plagued buildings but at the same time developers were more likely to fix problems in flusher times—and tied to a three-year statute of limitations on suing developers for negligence. The article zeroes in on one Brooklyn building, the Broadway Arms in Williamsburg, above, where owners filed suit against the developer. The condo has had leaky roofs, unstable balconies and a faulty ventilation system. Owners in the building, according to their lawyer, have filed suit because they want to to protect their investments: “They want to make sure they get the value they were promised for their units when they bought it.”
Your New Condo Leaks? Join the Club [NY Times]