72 Berry: All That Glitters Is Not Gold

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72 Berry aka the Mason Fisk Building may have been the fastest-selling development during the lean years following the real estate market implosion as well as the recipient last week of a Brooklyn Building Award but all that good press has been masking some pretty serious troubles behind the scenes at the 26-unit condo conversion project in Williamsburg. Last December, after many months trying to get numerous construction flaws remedied, the building’s condo board filed suit against the developer. A motion by the defendant filed in March summarizes the history and substance of the complaints:

After the purchasers moved into the building and elected a Board of Managers in the fall and early winter of 2009, however, the Board discovered that the promises and representations made by the defendants were untrue in that the as-built construction and design of the building failed to adhere to the construction as specified in the building plans, Specifications Report, Offering Plan and applicable building and construction codes. The Board discovered that their building contained numerous, dangerous and expensive construction and design defects, confirmed by a forensic architectural and engineering evaluation of the building. Sponsor has also, upon information and belief, failed to file for J-51 real estate tax benefits.

We’ve heard tales of woe involving structural problems, leaks, lack of heat and more. Hopefully we’ll have some photos to share next week. Unfortunately this is the kind of risk that you face when you buy in a newly constructed (or, this case, newly converted) project.
2011 Building Brooklyn Awards Announced [Brownstoner]
Mason Fiske Move-Ins Expected for September [Brownstoner]
That Was Fast! 72 Berry Sells Out [Brownstoner]
72 Berry ‘Only Thing Moving’ in Williamsburg [Brownstoner]

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