By: Benyamin Davidsons

A posh client, who purchased an $80 million Park Avenue penthouse is now suing to undo the deal, saying he was duped into the deal before news broke out that his stunning Central Park view will be blocked by a new high-rise next door.

As reported by the NY Post, the unidentified buyer has filed a lawsuit in a Manhattan Supreme Court saying he was rushed into the deal in November for the five-bedroom, 6.5-half bath duplex at 520 Park Ave. The disgruntled buyer alleged “brazen fraud” on the part of real estate titans Arthur and William Lie Zeckendorf. The 8,300-square-foot Upper East Side home, which boasts a solarium, private elevator, balcony, and fireplace, was advertised as having “dazzling panoramic views from all four exposures,” as per its real estate listing.

Shortly after the purchase, however, it was revealed that a 37-story skyscraper with 62 units is being planned on several next door lots by Extell Development and Solil Management. The new tower “is all but certain to ruin the Penthouse’s unobstructed Central Park view,” the lawsuit alleges. The timeframe for the new building’s completion is not yet clear. The buyer says, however, that the duplex’s iconic view was the “defining feature.”

The purchaser, who has only been identified as Park Ave. Condo LLC, further alleges in the legal filing that the Zeckendorfs heard about the new building next door “given their status as part of a small circle of New York City real estate insiders.” The suit claims, they knew “that if the public ever caught wind of the Extell-Solil development, the penthouse would never sell — and certainly not at an $80 million price tag.”

The buyer alleges that when he showed interest in the duplex in the Fall, the owners failed to alert him as to the “specific, existing risk that the penthouse’s west-facing Central Park windows would be obscured,” per the suit. The buyer says the building’s offering plan only mentioned that the view was an amenity “that potentially can be lost” to future construction.

Per the Post, the buyer is asking the court to grant permission to back out of the agreement and is also seeking unspecified damages.

The 54-story trophy apartment building, at 520 Park Ave on Manhattan’s Upper East Side, was completed in 2018, boosting just 35 ultra-exclusive luxury residences. Design by the famed Robert A.M. Stern Architects, the limestone-clad building boasts an exclusive residents-only Club, with a two-story fitness center with top-tier equipment, private training rooms, a yoga studio, and a spa with a sauna, steam rooms, and private treatment suites. It also features a 25-meter indoor swimming pool.

Other amenities include private dining and entertaining spaces, a children’s playroom, a library, wine cellar, storage areas, a quiet garden and 24/7 white-glove concierge service. The Park Avenue building boasts well-heeled residents including former UFC-owning billionaire Frank Fertitta, who in 2017 purchased one of the building’s four penthouse duplexes; James Dyson, the billionaire founder of the Dyson appliance company; and Bob Diamond, the former head of Barclays.

The developers, also famed for other luxury buildings including 15 Central Park West, denied the allegations. The lawsuit is “a shameless attempt to renegotiate a binding agreement,” said Zeckendorf attorneys Terrence Oved and Darren Oved. “We are confident the court will readily see this for what it is – a transparent case of buyer’s remorse masquerading as a complaint – and readily dismiss it.”