Settlement in Lawsuit Over Defects at 50 Bridge Street


This morning a press release went out about how condo owners at 50 Bridge Street, also known as Bridge No. 50, have reached a settlement in a lawsuit brought against the building’s developer “and certain of its affiliates.” (The developer in question is the notorious Joshua Guttman.) The suit dates back to 2007 and, according to the release, concerned how the building “suffered from a number of construction defects including a defective roof and other waterproofing issues.” Representatives from the condo board declined to tell us exactly how much the settlement was for except to say that it’s “a significant dollar amount that combined with some special assessments within the building, will allow the building to fix the construction issues.” Repairs are supposed to begin later this year. The building was converted into a condo in 2004. GMAP

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