The Real Deal New York

David Geffen’s home repairs infuriating his neighbors: suit

Media mogul paid $54M for the 785 Fifth Avenue penthouse in 2012
March 22, 2016 09:16AM

The Parc V co-op at 785 Fifth Ave and the pre-renovation penthouse (credit: Corcoran Group) (inset: David Geffen (credit: UCLA))

Legendary record label head David Geffen is allegedly making the Parc V rock and roll in all the wrong ways. 

Howard and Gloria Schwartz, who own a unit at the white glove co-op, located at 785 Fifth Avenue, are suing the Geffen Records founder and former DreamWorks SKG boss for $2.5 million over alleged noise and structural damage that has made their lives a “nightmare,” according to the complaint, the New York Post reported.

Geffen bought a duplex penthouse on the top floors of the 19-story building back in 2012, paying $54 million. He received permission to do a gut renovation on the property in 2013.

The billionaire’s team installed two hoists on the 12th floor, just outside the Shwartzs’ apartment, allegedly causing the unit to “rattle and shake,” the Post reported.

The Schwartzs’, both in their 70s, say the work has caused about $2 million in damage to their unit, including “cracks in the gypsum block walls, cracks in and separations of moldings and baseboards, settlement, cracking and lifting of marble floor tiles,” according to the suit.

A total of 17 other Parc V shareholders have submitted claims against Geffen, according to the suit. He’s resolved six of those. [NYP] Ariel Stulberg