Faena House condo association sues developer, contractor over alleged construction defects at ultra-luxury tower

The ultra-luxury Faena House condo, an oceanfront Miami Beach tower that is home to billionaires Ken Griffin, Lloyd Blankfein and others, has a big lawsuit on its hands.
Alan Faena, Len Blavatnik, Faena House (Credit: Faena House via Miami Herald) www.therealdeal.com

The lawsuit alleges problems related to hot water, electrical, paint, flooring, doors, and glass.

The ultra-luxury Faena House condo, an oceanfront Miami Beach tower that is home to billionaires Ken Griffin, Lloyd Blankfein, and others, has a big lawsuit on its hands.

The condo association is suing the developer, general contractor, and subcontractors for a laundry list of alleged construction defects at the 17-story building, including a broken elevator in the penthouse, missing art, cracking in the concrete, and chalky paint.

The 44-unit Faena House, at 3315 Collins Avenue, has made headlines since it was completed in 2015. Griffin, a hedge fund manager, paid the highest price for his units, two penthouses, for a combined $60 million that year. Kim Kardashian West and Kanye West toured the building but ultimately decided against purchasing a unit. And recently, a majority of unit owners have banded together to oppose plans for a taller tower next door on the site of the historic Versailles property.

Overall, many of Faena House’s units have sold for more than $5 million.

According to the lawsuit filed in Miami-Dade Circuit Court last week, the condo association is suing Tower 3315, an LLC managed by Access Industries and Faena Group, its general contractor Coastal Construction, and nearly two dozen other companies, including Foster + Partners, for alleged negligence, breach of an implied warranty, injunctive relief, special performance, and violations of Florida’s building code.

A spokesperson for the developer declined to comment, and Coastal Construction said it does not comment on pending litigation. Foster + Partners did not immediately respond to a request for comment.

The developer, led by developer Alan Faena and investor Len Blavatnik, turned over control of the condo association in September 2016. The following year, the association was provided with a property condition assessment report and a supplemental report that outline the alleged issues with construction, according to the suit.

 
Read the full story: www.therealdeal.com

Zulma Torres

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