The new buyers are “apparently unfazed” by the ongoing $125 million legal battle between residents and the developers, Olshan Realty said.
Despite being one of the most luxurious buildings in the world, 432 Park is also plagued with problems.
In September, the condo board filed a $125 million lawsuit against developers CIM Group and Macklowe Properties, Insider’s Heather Schlitz reported.
The building was completed in 2015. But as of 2016, residents began complaining about numerous construction flaws that resulted in flooding, electrical explosions and even noise problems caused by the building’s swaying, according to The New York Times.
According to the lawsuit, Richard Ressler, chairman of the CIM Group (which owns a unit in the building) “admitted that the noise and vibration problems are ‘unbearable’, making it difficult to sleep during periods of even moderately bad weather.” .”
“What was promised to be one of the most beautiful condominiums in the city was instead delivered with more than 1,500 identified construction and design flaws on the common elements of the building alone (aside from the numerous defects within individual units), continues the lawsuit.
The apartment buyers are Yossi and Gaëlle Benchetrit. They own another apartment on the ground floor of the same building, the Wall Street Journal previously reported, citing people familiar with the deal.
Yossi Benchetrit is the chief procurement and programming officer of Altis USA, a cable television provider, while his wife Gaëlle is the founder of the aesthetic clinic Clinique des Champs Elysées New York, according to the Wall Street Journal.
The buyers were represented by Jason Haber of Compass. The Benchetrits and Haber did not immediately respond to Insider’s requests for comment.