On Friday we brought word of some troubling signs regarding Financial District condo conversion at 45 John Street, including chatter from buyers that work on the building had frozen, and the developer's deadline to deliver the finished product was coming up this week. Those rumors panned out, with The Real Deal now reporting that the project's lender is kicking off foreclosure proceedings, and buyers will have the right to walk away from their contracts. Given the 84-unit development's uncertain future, we imagine many will. [Real Deal]
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