Is Phoenix Gardens on 12 Dora St a safe building to buy?

I have recently signed a contract for a 2 bedroom apartment in Hurstvilles Phoenix Gardens. It is the building right across the street from Waratah Private Hospital, and the Hurstville library is on the lower level. I am still in cooling period, but both my strata report and the bank said that this building has major defects. Does anyone have a 1st hand experience knowing whether this building has any critical risk to live in?
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Rentals in Hurstville, NSW 2220