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443 Greenwich condo board suing Berman’s Metro Loft for $376M
Owners within celebrity hotspot allege leaky roof, crumbling walls and are blaming the developer and architect
Metro Loft CEO Nathan Berman and 443 Greenwich Street (Getty, Metro Loft, Google Maps)
A Tribeca condominium building known for its star-studded list of residents is going after the developer and architect of the property.
The condo board representing the owners at 443 Greenwich are in the midst of a long-running lawsuit against the parties, Bloomberg reported. While the legal battle has been ongoing for years, a critical moment may be arriving as a hearing in the case and depositions are both scheduled for this month.
The defendants, Nathan Berman’s Metro Loft and architect CetraRuddy, have denied the allegations in court filings. Each party declined to comment to Bloomberg on the lawsuit.
The condo board is seeking $376 million, according to its most recent complaint, citing claims such as breach of contract and negligence. Uninvolved lawyers who looked at the case suggested the suit is seeking closer to $100 million, though, as there are duplicate claims in the complaint.
The board alleges defects and code violations throughout the building, some of which are “life-threatening,” according to an independent inspector in a claim made in the lawsuit. There were allegedly multiple leaks reported by penthouse owners in 2020, but the developer is accused of failing to do anything to mitigate the problem.
The board also alleges that bricks weren’t laid properly in the penthouse and parapet walls, allowing moisture to collect; residents could supposedly pull bricks out due to their looseness. The planted courtyard also doesn’t have a proper drainage system according to the suit, leading to flooding when heavy rains come down.
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Despite the lengthy lawsuit and noted problems, buyers are unafraid. A few months ago, a penthouse unit in the building was sold for $36 million.
The 53-unit property — a converted factory — has seen Jennifer Lawrence, Harry Styles, Blake Lively and husband Ryan Reynolds, Justin Timberlake and wife Jessica Biel and Formula 1 driver Lewis Hamilton walk through the doors.
Considering the high-profile list of residents, depositions could become a red carpet affair. Actor Jake Gyllenhaal was expected to be deposed, though he wasn’t included on the most recent schedule.