Billionaire David Geffen is being sued by his neighbor because a renovation on his $54 million penthouse is allegedly causing damage and 'ear-splitting noise'

Billionaire entertainment mogul David Geffen is being sued by his neighbors in the building housing his two-story $54 million penthouse on Manhattan's Fifth Avenue, according to the New York Daily News.

Howard and Gloria Schwartz have filed a suit that alleges the billionaire's renovations to the unit - which he bought in 2012 from singer and socialite Denise Rich - have caused "ear-splitting" noise.

Additionally, vibrations from the construction have allegedly caused damage to their apartment, the suit claims.

The physical damages to their living space named in the suit allegedly includes: designer wallpaper peeling off their walls, marble floor tiles cracking and shifting, and a mysterious black soot drifting out from the floors and walls, which they all blame on the contractors.

The Schwartz's are also claiming the work has caused high blood pressure and other cardiac issues, and are demanding $2 million in damages.

In the co-op building, 17 others have submitted claims against Geffen. Of them, six have been settled, but not yet the Schwartz's, the Daily News reports. The suit also names the contractor, the co-op board, and the co-op engineer who approved Geffen's renovation plans.

Geffen did not immediately return a request for comment.