15 Broad buyers sue Boymelgreen, Africa Israel for $20M over alleged defects

From left, Shaya Boymelgreen, Lev Leviev of Africa Israel and 15 Broad Street

Shaya Boymelgreen and co-developer Africa Israel have been hit with a $20 million lawsuit over shoddy construction at 15 Broad Street, the glitzy, 330-unit Financial District condominium conversion also known as Downtown by Starck. According to the Post, four members of the condo board and several apartment owners claim the developers left the building “rife with defects,” including a movie theater rendered unusable by building code violations, water leaks and a lack of fireproofing. They also allege that the developers have purposely avoided making the building improvements necessary for a permanent certificate of occupancy from the city in order to retain control of the condo board “as leverage to pressure its unit owners into accepting conditions that are far less than what the sponsor and its associates promised them.” It’s an all-to-familiar story for the embattled Boymelgreen, who virtually disappeared last year amid a slew of similar lawsuits from condo buyers in Brooklyn, but who has been attempting to stage a comeback on the New York City scene in recent months. Laurie Golub, general counsel for Africa Israel, pledged to “aggressively defend this action,” which she said is “wholly without merit.” [Post]