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rgo Real Estate's luxury condo project at 64 University Place made headlines with its rapid sales, but the construction process was plagued by delays. According to a lawsuit filed by Argo against CNY Residential, the construction manager, CNY failed to properly oversee subcontractors, leading to delays in obtaining a Temporary Certificate of Occupancy. The developer is seeking $13 million in damages for defective work, delays, and breach of contract.

    Construction was initially set to start in December 2021 and finish by August 2023, but the building didn't receive all its TCOs until November. Argo claims that CNY's inability to manage subcontractors caused a domino effect of delays, including a four-month delay in glazing and window work, which was supposed to take 90 days. The developer also alleges that CNY refused to pay subcontractors, leading to low worker turnout on the job site.

    Argo further claims that CNY's poor management led to subpar work quality, with some tasks taking significantly longer than expected. Despite these issues, the building sold out quickly, with 24 contracts inked in under two weeks. Douglas Elliman agents Fredrik Eklund and John Gomes led sales at the property, with both buying units themselves.