The Real Deal New York

David Geffen claims contractors caused more than $1M in damage to $54M penthouse

Dreamworks CEO has been renovating the apartment at 785 Fifth since 2013
January 24, 2017 08:46AM

785 Fifth Avenue and David Geffen (Credit: Getty Images)

That’s not a good sound. Music mogul and Dreamworks co-founder David Geffen claims two construction companies caused more than $1 million in damages to his co-op penthouse at 785 Fifth Avenue.

Geffen’s insurance company, AIG, filed a lawsuit against Bernsohn & Fetner LLC and Paul Ryan Associated, claiming that water leaked from drain pipes on the roof into his luxury co-op, the New York Post reported. The penthouse has been under construction since 2013, and was the subject of a lawsuit by one of Geffen’s neighbors, who claimed that the construction caused $2 million damage to their apartment.

Geffen purchased the two-floor co-op in 2012 for $54 million. He recently purchased a mansion at 199 Lilly Pond Lane in East Hampton for $70 million, where he’s planning a $1.9 million renovation. He sold a nearby East Hampton estate shortly after that for $67.3 million. He also listed another unit he owns in the Fifth Avenue building for $27.5 million in September. The co-op was taken off the market in December. [NYP] — Kathryn Brenzel