The Real Deal New York

Icon files $6M lawsuit against 985 Park contractor

August 20, 2008 02:52PM
By Adam Pincus

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The Icon Group, developers of the luxury 15-story condominium tower at 985 Park Avenue, filed a $6 million lawsuit in state court last week claiming the project’s general contractor was to blame for a fire and a 10-month delay.

The slim, Costas Kondylis-designed building at 83rd Street has five duplex units, a triplex garden unit and a triplex penthouse.

The closings for the sold-out building were in late 2007, with prices ranging from $5.175 million for a duplex to $7.25 million for the penthouse triplex, city records showed.

The complaint, filed in Manhattan State Supreme Court on August 15, alleges Marson Contracting, of the Bronx, managed the project poorly and allowed the fire to happen through negligence. Neither the fire’s date nor its severity was disclosed.

Icon says it signed an agreement in June outlining payments to Marson that would share insurance proceeds from the fire, and says in the lawsuit that it will drop the $6 million in damages it is seeking if those payments are made. The payments would total $800,000 plus one third of the insurance claim’s net proceeds.

The suit also states the final certificate of occupancy had not yet been issued, but on Monday the Department of Buildings issued it, city records show.

An attorney for Marson Contracting declined to comment beyond saying, “Marson vehemently denies the allegations.”

A principal with Icon, Terrence Lowenberg, declined to comment.

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