Developer faces $376 million suit over alleged defects at Manhattan condo building

A Manhattan developer is facing a $376 million lawsuit alleging structural and construction defects at a Tribeca condominium building. MetroLoft developed the property at 443 Greenwich St. from a former bookbinding factory. Residents and the condo board have alleged leaking roofs, inadequate drainage, and structural decay.

The board filed suit in 2022 for breach of contract and fraud. The original claims sought $250 million; the total has grown to $376 million during three years of litigation.

Additional litigation and violations A separate lawsuit filed by former residents Justin Timberlake and Jessica Biel seeks coverage for alleged flood damage to their former penthouse. MetroLoft is not named as a defendant in that case. City records show MetroLoft carries 40 open violations across three properties.

At the 443 Greenwich St. site, inspectors documented a heavy object falling through five floors and unlicensed welding.

Ongoing projects MetroLoft is also converting the former Pfizer headquarters at 235 E. 42nd St. into roughly 1,600 apartments. On Tuesday, support beams on floors 18 through 23 buckled, prompting an emergency stop-work order. Crews began installing temporary shoring on Wednesday.

The project already had 22 open violations before the buckling incident. A second conversion at 25 Water St. has eight open violations after resolving 42 earlier ones. The building is scheduled to open in 2027.