Developers are dusting off their promotional materials and contracts are getting signed. But sponsor transactions are in need of a serious spring cleaning.
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Here's an equation that would make any developer queasy: Lawyer purchasing a condo, plus alleged misrepresentation about the apartment's square footage = lawsuit.
With all the unsold condo units out there (which those in the trade like to call "shadow inventory"), there are great deals to be made when purchasing a newly constructed apartment.
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