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New York

50 percent buyer deposits are here to stay, developers say

Payment structure preventing rush of speculators that fueled last bust

Avra Jain, Stephen Owens, Carlos Rosso and W. Allen Morris
Avra Jain, Stephen Owens, Carlos Rosso and W. Allen Morris

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From the South Florida website: Even though his company loosened the time frame in which buyers can put money down on a new condo at Brickell City Centre, doesn’t mean he’s forsaken 50 percent deposits on units, Swire Properties President Stephen Owens told an audience in Coral Gables Friday morning. [more]