Queens Tony

Unfortunately, it is true. My fiancee and I put a deposit on a Chelsea South End condo and got a call today to tell us we would be getting a refund of our deposit shortly. Basically, they did not sell 50% of the available units and could not move forward with construction. I think it also involved their lenders requiring enough secured deposits before they would finance. We had, what I thought, the best unit in the place for the price and I was really excited by it. I was told we would be the first to know if things change and we might end up with everything the same. Victim of the housing downturn, and it sucks :-/