We purchased a condo in a renovated brownstone recently. When we purchased the unit, contractors were working around the clock, and we were assured, and contractually promised, that the punch list items and the exterior of the building would be completed. Now, the developer seems to have completely run out of funds. The contractors have told us that they cannot continue to work because the developer has stopped paying them. A significant amount of work remains to be done, but no work has happened in weeks. Before we hire a lawyer, I wanted to ask if anyone has experience dealing with this type of situation. The developer still retains an unsold unit in the building, as well as other buildings and stores in the area. <\/p>\n","protected":false},"excerpt":{"rendered":"
We purchased a condo in a renovated brownstone recently. When we purchased the unit, contractors were working around the clock, and we were assured, and contractually promised, that the punch list items and the exterior of the building would be completed. Now, the developer seems to have completely run out of funds. The contractors have…<\/p>\n","protected":false},"author":12361,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"schneps_byline":"","schneps_post_style":"","schneps_post_source":"","schneps_syndicated_read_more":"","schneps_post_source_sitename":"","schneps_syndicated_thumb_html":"","schneps_syndicated_thumb_src":"","schneps_post_source_shortname":"","schneps_post_source_url":"","schneps_post_source_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[114],"tags":[],"districts":[],"class_list":["post-24045","post","type-post","status-publish","format-standard","hentry","category-construction"],"acf":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/brownstoner.com\/forum-archive\/2008\/09\/developer-refus\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Developer Refusing to Complete Condo","url":"http:\/\/www.brownstoner.com\/forum-archive\/2008\/09\/developer-refus\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.brownstoner.com\/forum-archive\/2008\/09\/developer-refus\/"},"thumbnailUrl":"","image":{"@type":"ImageObject","url":""},"articleSection":"Construction","author":[{"@type":"Person","name":"maeve"}],"creator":["maeve"],"publisher":{"@type":"Organization","name":"Forum Archive","logo":""},"keywords":[],"dateCreated":"2008-09-03T09:49:59Z","datePublished":"2008-09-03T09:49:59Z","dateModified":"2008-09-03T09:49:59Z"},"rendered":"