^ Sue the owner of that building for failing to ensure that its tenants obey the relevant ordinances and not disturb the peace. Sue the owner of your own building for failing to ensure that its tenants can enjoy their apartments in peace. You're not getting what you pay for, after all. Go door to door in both buildings and find everyone else that might want to join the suits. In short, organize a tenants' union. I don't know what provisions your leases might contain regarding something like this, but the owners shouldn't be able to bust up such a union if it is organized to resolve a single outstanding issue. Thoroughly document everything, including every incident from now on, and get the police reports on the past incidents, if possible.
In my experience, the biggest hurdle to getting something like this resolved is that everyone thinks they're the only one who is disturbed so it's futile to do anything about it. No one wants to be seen as that uptight neighbor who complains about every little thing. But once everyone realizes everyone else is disturbed as well, you'll quickly find strength in numbers.
Whatever happens, don't threaten to do anything that you're not prepared to actually do (e.g., withhold rent, move out). Your threats must always be credible. If you can't or won't follow through, then you'd better learn to live with the noise.