Spruce Capital accused in suit of selling $21M mansion’s buyer a “death trap”

West Village resident claims the developer hid the defects

New York /
Sep.September 21, 2017 10:00 AM

The buyer of a $20.7 million Greenwich Village mansion accused Spruce Capital Partners of selling a “death trap.”

The developers had redeveloped the six-story building at 116 Waverly Place into a mansion and sold it in August 2016. But in a lawsuit filed Wednesday, the unidentified buyer claims that he or she “discovered numerous and significant defects and deficiencies including, but not limited to, life threatening issues which required substantial and costly emergency repairs,” including mold in the air-conditioning ducts, a gas leak, fungus growth and flickering lights.

The suit alleges that the developers knew about the defects but hid them.

But Spruce Capital’s Robert Schwartz told the New York Post that an inspector went through the property prior to closing and that he is “not aware” of the issues.

The 10,200-square-foot property was originally listed for $34 million.  [NYP]Konrad Putzier


Related Articles

arrow_forward_ios
Bryan Cranston and his California beach house (Getty, Realtor)
“Breaking” news: Bryan Cranston lists eco-friendly SoCal beach pad
“Breaking” news: Bryan Cranston lists eco-friendly SoCal beach pad
RE/MAX CEO Adam Contos (Facebook)
RE/MAX revenue ticks up in Q4 but profit sinks
RE/MAX revenue ticks up in Q4 but profit sinks
(iStock/Illustration by Kevin Rebong for The Real Deal)
State will use undercover testers to combat housing discrimination
State will use undercover testers to combat housing discrimination
Zillow COO Jeremy Wacksman (Zillow, iStock)
Zillow using Zestimate to streamline cash offers for some homes
Zillow using Zestimate to streamline cash offers for some homes
Home sales were the busiest January on record, but still the fifth month of decline in a row. (iStock)
Pending home sales fall for fifth consecutive month
Pending home sales fall for fifth consecutive month
Don Lemon and Tim Malone with their apartment at 2280 Frederick Douglass Boulevard
Making Lemonade: Don Lemon breaks even on Harlem condo sale
Making Lemonade: Don Lemon breaks even on Harlem condo sale
(IStock illustration by Kevin Rebong)
Smaller cities look to cash in on shift to remote work
Smaller cities look to cash in on shift to remote work
Douglas Elliman chairman Howard Lorber (Getty)
Douglas Elliman reports $14M profit, 50% revenue jump in quarter
Douglas Elliman reports $14M profit, 50% revenue jump in quarter
arrow_forward_ios

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

Loading...