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Please Don't Bilk the Foreigners

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No wonder foreign buyers are exiting our real estate market: lawyers are walking off with their $735,000 down payments. "The money had been put up by a wealthy family from Hong Kong as a down payment on a $7.35 million three-bedroom on Lafayette Street near Houston Street - but when the would-be buyers showed up for the closing, neither Armenakis nor their money could be located, said Manhattan DA Robert Morgenthau." [NYP]