Billionaire David Geffen’s penthouse renovation elicits another lawsuit

The bungled renovation of a three-story penthouse at 785 Fifth Avenue has caused nothing but headaches for DreamWorks exec. David Geffen, who amid fielding lawsuits from emotionally-distressed neighbors is lobbing a few of his own. The billionaire’s insurance company has sued two construction firms contracted for the renovation of the 17th, 18th, and 19th floors, claiming their slapdash workmanship caused more than $1 million dollars in damages to the apartment (h/t New York Post).

The alleged source of the damage is a leak from drain pipes on the roof of the building that went on to infiltrate the apartment and cause $1.05 million in damages. In March, a sixth lawsuit was lobbed at Geffen by a neighbor inside the prestigious building. The $2.5 million suit by self-described seniors Howard and Gloria Schwartz says that measures undertaken to refurbish Geffen’s penthouse have caused immense damage to their home six floors below.

Geffen’s co-op topping pad has been under renovation since 2013, a year after he purchased it from socialite/singer Denise Rich who renounced her citizenship all to save on taxes. When Geffen purchased the apartment for $54 million, it had seven bedrooms, 11 bathrooms, a gym, and a recording studio.

Meanwhile, as everything falls apart on Fifth Avenue, Geffen’s decided to undertake a $2 million renovation to his $70 million East Hampton home.

A look at the $54 million Fifth Avenue pad pre-renovation, below.

Grid View

• David Geffen sues contractors that renovated his apartment [NYP]
• Billionaire David Geffen's Penthouse Renovation Wreaks Havoc On His Neighbors [Curbed]

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