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Nightmare on E. 72nd Street raises question: Are small condos risky?

Posted On: Nov 19, 2019   |   Posted By: The Real Deal New York

The financial mess dragging down an Upper East Side building has triggered warnings about buying into a small condominium. In the case of 40 East 72nd Street, three buyers spent about $11 million apiece for residences in the luxury building and the sponsor claimed the penthouse, but the remaining three units went unsold for years. Now the condo is mired in a legal dispute and out of cash. “Just one reason we never recommend buying

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