Since When Is a Leaky Roof a Luxury?

Dec. 10, 2015 — The roof leaks.  The common terrace was never landscaped.  Electrical service is erratic.  The apartments and building systems are in “dilapidated” condition with “a multitude of design and construction defects.”

Is this the description of a derelict building run by slumlord?  Hardly.  These are allegations contained in a $5 million lawsuit filed in State Supreme Court on Dec. 8 by residents of a luxury Union Square condominium against the building’s developer, Brack Capital Real Estate.

In addition to the $5 million settlement, as reported in The Real Deal, residents of the 36-unit building are demanding that Brack renovate the building and fix the problems.  A spokesman for Brack retorted, “We stand by our product and are very proud of it.”

The asking price for apartments in the glossy “dilapidated” building known as 15 Union Square West?  Up to $12 million.  No extra charge for the leaky roof.  See you in court.