With all of the new construction info on this blog, we are periodically asked about the risks to buyers if a condo can't sell all of it's units (we can already see your little ears perking up 20 Pine and William Beaver House).
Although we wish we wrote this article, we have to hand it to the New York Times for writing a great piece on the repercussions of buying in a development that later becomes troubled. This article is about 1-2 months old and for some reason infuriatingly difficult to find online via a search engine, so we thought we'd post it here.
For a real life example of a building going through almost all of the hassles described in that article, check out our coverage of BPC disaster 225 Rector.
48 minutes ago