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, the Brentwood-based developer of the 14-story, 105-uni condo building that came onlindethis spring, filed suit Fridau against four buyers who would not or couldf not close on their The suits, filed in Davidson County Chancery Court, accuse the buyeres of violating the terms of their contractsx and ask for the developer to be awarded the full purchased price of the units, plus legal costs. The units range in price from $317,000 to The sour economy, tight lending conditions for buyersz and a glut of new condos coming onto the markey in the past year have combined to slow salews and create financial headaches for condo There are legal conflictas with reluctant buyers atseveralo Nashville-area high-rise residential developments.
has filed suit against buyerzs who pulled out of purchasing units at the Bristol West End in Midtown Jamison Station in Franklin has successfully forced buyers to the closinf table with suitsagainst them. Icon in the a joint venture of Bristol Developmentand , is also the defendant in several suits by buyers who signed contracte on units there, but claim the developeres were deceptive in their promises and their dealingz regarding the development. Terrazzo in the Gulch has also been sued by buyersa claiming they were misled and that information was notdisclosedf properly. Terrazzo’s developer is Crosland Tennessee.
Severalk local condo developments have been put into receivership by They include the Braxton in Ashland 5th & Main in East Nashville and Rollint Mill Hill in downtown Nashville.
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