The residents of Richard Meier's glassy monument to last decade's housing boom—On Prospect Park—are suing the Grand Army Plaza building's developer, sponsors, and others involved in its construction. The glass edifice overlooking Prospect Park isn't even legal anymore, having lost its temporary Certificate of Occupancy to expiration last month, according to the Post. The condo tenants' suit alleges "misappropriation of funds, a leaky curtain wall, an 'unsalvageable roof,' uncompleted amenities and other construction defects." Maybe the building is just being shaken apart by loud parties thrown next door? When asked last year if he even hoped to break even on the project, developer Mario Procida answered The Wall Street Journal with an enigmatic smile, "I prefer not to discuss it." We imagine that enigmatic smile has morphed to a full-blown grimace. On Prospect Park condo owners may no longer be lonely, but their misery has a lot of company, and everyone there wants $200 million. In the meantime, owners are stuck. Without a Certificate of Occupancy, or a renewed Temporary CoO, their units are all but unsellable because it's unlikely anyone would ever provide financing for their purchase.
· It's War at Grand Army Plaza [NYP]
· Certificate of Occupancy [DoB]
· On Prospect Park coverage [Curbed]