Icon files $6M lawsuit against 985 Park contractor

New York /
Aug.August 20, 2008 02:52 PM

 
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.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
eXp CEO Glenn Sanford (eXp, iStock)
Virtual broker eXp Realty has another record quarter
Virtual broker eXp Realty has another record quarter
Ira Drukier with the Hotel Chelsea (Getty, Patrick McMullan/Getty)
Chelsea Hotel owners sue city for $100M over renovation delays
Chelsea Hotel owners sue city for $100M over renovation delays
RSA's Joseph Strasburg and Judge Lawrence Marks (Getty, Strasburg via Jeffersons Siegel)
Landlord group challenges state eviction ban
Landlord group challenges state eviction ban
Redfin CEO Glenn Kelman (Getty, Redfin)
Pocket listings exclude minority homebuyers, Redfin CEO says
Pocket listings exclude minority homebuyers, Redfin CEO says
(378 West End, 300 West and 567 Ocean Avenue, Getty)
April was best month for new condo sales in 5 years
April was best month for new condo sales in 5 years
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...