Fixing a condo catastrophe without litigation
“What happens when glass from a skyscraper crashes down onto crowded Fifth Avenue? It shatters your expectations of how a condo board, a developer and an insurance company can work together to come up with a compromise solution without litigation. Turns out it’s not impossible. Hey, who knew?
Built in 2006 between 32nd and 33rd Streets near the Empire State Building, it’s 42 stories of elegant-looking steel and glass. With black-granite floors and a waterfall in the lobby, and such amenities as a private screening room, a gym, a playroom and a fireplace lounge, the luxury condominium has apartments selling for as much as $3.9 million.
And then glass panels started falling from balconies…”
—Read more online at www.habitatmag.com
From the January 2012 issue of Habitat magazine By Frank Lovece