Billionaire Ray Dalio’s family built a huge extension on the roof of their NYC building. Now, a neighbor is worried his entire apartment will collapse — he’s suing.

A next-door neighbor is taking legal action against billionaire hedge funder Ray Dalio after his household constructed an addition on top of their New york city City apartment or condo. The next-door neighbor states he’s concerned his own apartment or condo might collapse, the New york city Times reports.

Federico Pignatelli della Leonessa, the Dalio household’s next-door neighbor and the previous CEO of Pier 59 Studios, informed the Times he’s been preventing his SoHo apartment or condo due to the fact that he’s worried about the remodellings, which included a flooring on top of a historical structure and have, he argues, resulted in prospective structural problems.

A spotlight is once again on the fit, which was submitted in 2015, after the Times’ current profile, which establishes millionaire vs. billionaire in the rarified world of high-end New york city City property. (Forbes approximates Dalio deserves $19 billion and the Times called Pignatelli a “millionaire,” however didn’t put specifics on his net worth.)

” I’m Italian, Ray’s Italian,” Pignatelli informed the Times. “We’re next-door neighbors!” He stated he no longer oversleeps the apartment or condo. “We need to be appreciating each other and assisting each other, however he’s extremely conceited,” Pignatelli stated of Dalio.

For his part, Dalio’s lawyer stated his household dealt with the remodellings correctly. “We have self-confidence that the legal system will manage this circumstance properly,” lawyer Tom Sinchak informed the Times. In a declaration to Expert. Sinchak stated Dalio didn’t own the apartment or condo– that it’s “owned and populated by his kids.” Dalio is called in the fit.

Pignatelli is requesting for relief and “in excess” of $10 million in damages, according to files submitted in New york city Supreme Court. In the preliminary problem, Pignatelli states that he was not provided prior notification of the building and construction, which he stated are basically prepare for a “structure on a structure.” He stated he’s likewise “observed significant security structural and other damage to its apartment or condo.”

Throughout the pandemic, the Dalio household started building and construction on a penthouse on top of their sixth-floor SoHo apartment or condo, the Times reported. The task consists of constructing a penthouse with a kitchen space and half-bathroom, in addition to a 2,000-square-foot deck on top of the structure, the publication stated. The Times stated the SoHo house has actually been a house to a few of Dalio’s kids for many years.

The Times reported that Pignatelli’s issues about the task intensified just recently– after reports of a parking lot in Manhattan that had actually collapsed in April.

Pignatelli composed in a 24-page letter to the mayor and New york city City authorities in April that the task is “successfully a brand-new 7th flooring” and it is too heavy for the structure to support, the Times reported.

A representative for the city’s Department of Structures stated that it discovered the structure “did not completely comply” with the strategies the city had actually authorized however “did not observe any structurally dangerous conditions” when inspectors examined the task in 2015, the Times stated. At the time, the department had actually provided an order for the Dalio’s to stop building and construction and stated it prepared to reclaim the licenses, the Times reported.

On the other hand, Pignatelli stated in his claim that he has actually seen indications the building and construction task is impacting his apartment or condo. He stated he’s seen fractures in the wood columns supporting his house, slanted columns, water leak from his ceiling, damage to his floorings, paint coming off his walls, and a door that would no longer correctly suited its frame.

In 2015, Pignatelli stated his housemaid found the mirror in his restroom had actually broken– an occurrence Pignatelli credits to a “structural shift” in the structure, however was dismissed by his insurance provider, the Times reported.

In court files for the case, Dalio rejects Pignatelli’s claims. Sinchak, Dalio’s attorney, stated in a declaration to Expert that the Dalios provided to work with an independent engineer “to carry out an unbiased evaluation and to compensate him for any damages that may have been triggered. Mr. Pignatelli rather picked to begin a suit soon afterwards, poorly consisting of Mr. Dalio as an accused in an apparent effort to attempt to humiliate him into a settlement.”

Pignatelli has actually taken legal action against the co-op board for the structure in the past, the Times stated. Both cases were settled.

Update, May 24, 2023: This story was upgraded with remark from Ray Dalio’s lawyer.

Check Out the Times’ complete story on the fight in between Pignatelli and the Dalio’s on its site.