432 Park, one of the wealthiest addresses in the world, faces some significant design problems, and other luxury high-rises may share its fate. Annual common charges jumped nearly 40 percent in 2019, according to management emails that cited rising insurance premiums and repairs, among other costs. The Down Side to Life in a Supertall Tower: Leaks, Creaks, Breaks February 3, 2021. Six years later, residents of the exclusive. Problems at the building were coupled with significant new expenses. NEW YORK The nearly 1,400-foot tower at 432 Park Ave., briefly the tallest residential building in the world, was the pinnacle of New York’s luxury condo boom half a decade ago, fueled largely by foreign buyers seeking discretion and big returns. Residents at 432 Park complained of creaking, banging and clicking noises in their apartments, and a trash chute “that sounds like a bomb” when garbage is tossed, according to notes from a 2019 owners’ meeting. The Downside to Life in a Supertall Tower: Leaks, Creaks, Breaks Krin Rodriquez Febru432 Park, one of the wealthiest addresses in the earth, faces some sizeable layout issues, and other luxury significant-rises could share its destiny. Aside from the fact that their private restaurant is almost certainly not closed, some billionaires being inconvenienced by what amounts to minor condo fees on their second (or third, or fourth) home is wildly different than a person with no home struggling to keep themselves warm at night. Park, one of the wealthiest addresses in the world, faces some significant design problems, and other. THE nearly 1,400-foot tower at 432 Park Avenue, briefly the tallest residential building in the world, was the pinnacle of New York's luxury. Jennifer Lopez and Alex Rodriguez bought a 4,000-square-foot apartment there for $15.3 million in 2018, and sold about a year later. The Downside to Life in a Supertall Tower: Leaks, Creaks, Breaks. The 96th floor penthouse at the top of the building sold in 2016 for nearly $88 million to a company representing the Saudi retail magnate Fawaz Alhokair.
The Down Side to Life in a Supertall Tower: Leaks, Creaks, Breaks The Rafael Violy-designed 432 Park Avenue supertall tower, one of the wealthiest addresses in the world, faces some significant design problems, and other luxury high-rises may share its fate.