One of Manhattan’s art deco gems is slowly breaking down its tenants with persistent elevator malfunctions

2022-03-29T12:34:00-04:00

At 20 Exchange Place, the sheer height of the building has made the persistent outages particularly infuriating for residents, who can pay as much as $5,000 a month for a market-rate one-bedroom unit. Since November, the skyscraper has been plagued by long elevator outages that have turned daily life upside down and trapped residents with mobility issues inside their apartments. Elevator service is unpredictable and often nonexistent, for hours at a time, above the 15th floor.

The building’s owner DTH Capital says Con Edison is the culprit, but a spokesperson for the company told the Times there was “no indication” that the malfunction has nothing to do with its service or equipment. The problems are so bad that the building had to hire an elevator mechanic to be on call 24 hours in order to replace the system's operating boards, which DTH attempted unsuccessfully to buy in bulk.

Tenants in the 57-story tower at 20 Exchange Place are getting by buying two weeks of groceries at a time. Some have been given new apartments elsewhere in the area or have signed non-disclosure agreements with the owners. Others are afraid to talk on the record, while still more either broke their leases or else wound up climbing a mountain of lament — including a 28-year-old nurse who thought she scored a deal during the Covid boom (“I’m a young, in-shape person, so I can do it. But it’s miserable.”)

“It’s a privilege that we are able to afford to live here, but we did not sign...

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One of Manhattan’s art deco gems is slowly breaking down its tenants with persistent elevator malfunctions