The Real Deal New York

Buyers could be walking away from 25 Broad

September 19, 2008 04:17PM

After the condo plan at Swig Equities condo conversion 25 Broad Street dissolved and a new plan was drafted, a tipster told Curbed that buyers had 90 days to re-sign the new contracts, and some of the would-be purchasers decided to abandon their contracts and walk away from the deals. There is also a rumor that a friend of the developer invested in a block of apartments in the building to qualify for the 15 percent needed to make the new condo plan effective.

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