NEW YORK CITY-Carlyle Realty Partners and Extell DevelopmentCo., developers of the 271-unit Rushmore condominium, are notwilling to return the security deposits worth $16 million to the 41buyers even after an unfavorable court ruling.

The developers had initially agreed to a contract which saidthat buyers would get their refunds if the developers could notcomplete even one sale by September 1, 2008. However, the firstdeal was closed only in February 2009. The buyers' attorney saidthat he would continue the legal battle against the developers.For the full story, go to Wall Street Journal. News Hub is your link torelevant real estate and business stories from other local,regional and national publications.

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