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Construction Defects Emerge at Pandemic-Era New Developments

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“I don’t accept pandemic excuses,” said Will Hodges, a 31-year-old software developer who bought a hero’s two-bedroom apartment $ 100,000 cheaper than the asking price in early 2021. , Does not include partial compensation for his closing costs. He said the discounts were in line with the recessionary condo market and didn’t think there were so many problems with the building. “It feels like they have virtually abandoned the project.”

Chandramowli said the Nest Seekers International sales team was aware of the flood but downplayed the damage to future buyers. In May 2021, a group of residents protested an open house event in the lobby by informing visitors of building issues.

A spokeswoman for Nest Seekers International said the brokerage firm was aware of the flood of heroes, but almost all buildings “experienced calm and adjustment a year after construction was completed.”

According to lawyers, complaints have only begun in a pandemic-era building for legal and financial reasons. In new condos, developers usually manage residential boards for the first few years. This makes it difficult for individual residents to order expensive engineering reports and pay statutory costs. Even if homeowners are united, many choose not to expose it because it damages the resale value of the property or fears retaliation from the developers.

Some of the residents of the troubled building admitted that they were drawn into clever marketing.

The building on Green Street in SoHo was advertised by celebrity real estate broker Ryan Sir Hunt, the star of the reality show “Million Dollar List New York.”he Appeared in marketing video Last spring, the “huge” loft of the building was on display. Ceilings are 12 feet, windows are 10 feet with automatic shades, Russian white oak floors, Caesarstone countertops, and Miele appliances.

The landlord sued some tenants for unpaid rent. Some tenants have already settled, but some of the proceedings are ongoing. Developer Arch said he received “positive feedback from most residents” and many renewed their second-year rental contracts.

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