The ultra-luxurious Faena House condo, an oceanfront Miami Beach tower home to billionaires Ken Griffin, Lloyd Blankfein, and others, has a major lawsuit ahead of it.
The housing association is suing the contractor, general contractor and subcontractor over a laundry list of suspected construction defects in the 17-story building, including a broken elevator in the penthouse, missing art, cracks in the concrete and chalky paint.
The 44-unit Faena House at 3315 Collins Avenue has made headlines since its completion in 2015. Griffin, a hedge fund manager, paid the highest price for his units, two penthouses, for a total of $ 60 million that year. Kim Kardashian West and Kanye West toured the building but ultimately decided not to buy a unit. And recently, a majority of the owners teamed up to oppose plans for a taller tower next door on the site of historic Versailles property.
In total, many Faena House units have sold for more than $ 5 million.
According to the lawsuit filed in the Miami-Dade Circuit Court last week, the condo association is suing Tower 3315, an LLC owned by Access Industries and Faena Group, its general contractor, Coastal Construction, and nearly two dozen other companies, including Foster + Partners, is managed. due to alleged negligence, violation of the implied warranty, injunctive relief, special performance and violations of Florida building regulations.
A spokesman for the developer declined to comment, and Coastal Construction said it would not comment on any pending litigation. Foster + Partners did not immediately respond to a request for comment.
The developer, led by developer Alan Faena and investor Len Blavatnik, handed over control of the owners’ association in September 2016. depending on the suit.
Among the subjects: stucco cracking, debunking and delaminating; Cracks in concrete; Roof slope, which has caused water build-up and other damage; Problems with plumbing, electrical, HVAC, elevators, flooring, pool and spa, paint, doors and glass.
The association claims that “the hot water circulation in all units is insufficient with unacceptable waiting times”. In the master bedrooms of all C floor plans, the light switches were reportedly not installed in the right place. The floors are cracked in some places, the marble has yellowed and there are defects in the glass, glazing and balcony railings, according to the lawsuit. The 13th floor is also incorrectly labeled depending on the suit.
After many closings, the developer removed an artwork that had been used to market the units to potential buyers, and “to date, Tower 3315 has refused to return the artwork,” the lawsuit said.
Faena House was marketed as an ultra-exclusive luxury condominium building in the last real estate cycle. Shareholders include Griffin and Blankfein, Michael Sherwood, CEO of Goldman Sachs, former US Ambassador Paul Cejas and Trudy Cejas, and billionaire hedge fund manager Jamie Dinan.
The building is part of the mixed-use Faena district with two hotels, Faena Forum, Faena Bazaar, and more. Next door, Blavatnik is building a luxury condominium and an Aman hotel together with developer Vlad Doronin.
It is not uncommon for housing associations to sue the developer, contractor, and subcontractor after the developer transfers control of the association to the owners of the units. Last month, the Aria on the Bay Condo Association filed a lawsuit against subsidiaries of Melo Group, Arquitectonica, and other firms that worked on the 53-story condo tower north of downtown Miami.
Contact Katherine Kallergis