A pair of NYC actual property titans duped a consumer into shopping for an $80 million Park Avenue penthouse with a surprising Central Park view — speeding the sale earlier than information broke {that a} high-rise subsequent door would break the vista, in keeping with a lawsuit.
Arthur and William Lie Zeckendorf perpetrated “a brazen fraud” on the customer of the five-bedroom, 6.5-half bathtub duplex at 520 Park Ave., the unidentified purchaser stated in a Manhattan Supreme Courtroom submitting that seeks to undo the November deal.
The 8,300-square-foot Higher East Facet house, full with solarium, non-public elevator, balcony, and a fire, is billed as having “dazzling panoramic views from all 4 exposures,” in keeping with an actual property itemizing.
Properly-heeled residents of the Park Avenue constructing embrace former UFC-owning billionaire Frank Fertitta, who purchased one of many constructing’s 4 penthouse duplexes in 2017; James Dyson, the billionaire founding father of the Dyson equipment firm; and Bob Diamond, former head of Barclays.
The complete view of the Huge Apple’s iconic inexperienced house is the duplex’s “defining characteristic,” the customer, recognized solely as Park Ave. Condominium LLC, stated within the authorized submitting.
However a 37-story skyscraper with 62 items deliberate by Extell Improvement and Solil Administration on a number of mixed tons subsequent door “is all however sure to break the Penthouse’s unobstructed Central Park view,” in keeping with the lawsuit. It’s unclear when the brand new constructing is anticipated to be accomplished.
The Zeckendorfs discovered concerning the new constructing “given their standing as a part of a small circle of New York Metropolis actual property insiders,” and understood “that if the general public ever caught wind of the Extell-Solil improvement, the penthouse would by no means promote — and positively not at an $80 million price ticket,” the customer alleged.
The “crown jewel” of the Zeckendorf’s 62-story constructing started as a triplex, which the pair hoped would promote for nicely above $100 million, breaking a then-city file.
Nonetheless, the $100 million benchmark was reached by a distinct developer in 2017, and the triplex sat for years unsold, forcing the pair to alter their strategy, the customer stated in court docket papers.
They break up the triplex into two residences however nonetheless couldn’t simply unload the duplex, in keeping with court docket papers.
The present purchaser voiced curiosity within the duplex within the fall. However the Zeckendorfs didn’t alert the patrons to the “particular, current threat that the penthouse’s west-facing Central Park home windows could be obscured,” the customer stated.
As an alternative, the constructing’s providing plan talked about solely that the view was an amenity “that doubtlessly may be misplaced” to future building, in keeping with the lawsuit.
Along with asking the court docket to allow them to ditch the penthouse, the unidentified purchaser is in search of unspecified damages.
The lawsuit is “a shameless try and renegotiate a binding settlement,” stated Zeckendorf attorneys Terrence Oved and Darren Oved.
“We’re assured the court docket will readily see this for what it’s – a clear case of purchaser’s regret masquerading as a criticism – and readily dismiss it.”
The Zeckendorfs are famed for developments similar to 15 Central Park West, nicknamed “Limestone Jesus.” Present and previous residents of the condominium tower embrace Goldman Sachs CEO Lloyd Blankfein, Robert De Niro, Denzel Washington, and Alex Rodriguez.
