As the building boom continues, more cases of shoddy new construction are coming to light, some the result of unseasoned, inexperienced developers, according to The New York Times. The story dove into problems at two buildings in particular, 500 4th Avenue (above) and 550 Grand Street.
At the former, a big new condo building, the cement cracked off the facade and balconies developed alarming cracks three years after opening. At the latter, a condo conversion of a 19th century brick building in Williamsburg, the roof leaked, the storm drainage system was not hooked up to the sewer system so the building frequently flooded, and “fire stopping measures” were missing.
The story mentioned two developers who have been named in lawsuits for construction defects in more than one building: Isaac Katan and Shaya Boymelgreen. It also recounted the travails of condo buildings that try to hold developers or sponsors accountable, and said ongoing litigation may make it difficult to sell.
Would you buy in new construction?
Construction Defects Follow a Brooklyn Building Boom [NYT]
Balconies Unsafe, Structural Problems at New Build on 4th Avenue [Brownstoner]
Photo by Nicholas Strini for PropertyShark