Rhythm developer latest to sue would-be buyers - Minneapolis / St. Paul Business Journal:

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, the Brentwood-based developer of the 105-unit condo building that came online this filed suit Friday against four buyers who would not or couldf not close ontheif units. The suits, filed in Davidson County Chancery Court, accuse the buyers of violatinv the terms of their contracts and ask for the developeer to be awarded the full purchase price ofthe units, plus legal costs. The unitws range in price from $317,000 to $539,000. The sour economy, tighgt lending conditions for buyers and a glut of new condoas coming onto the market in the past year have combinerd to slow sales and create financial headaches forcondlo developers.
There are legal conflicts with reluctant buyerds atseveral Nashville-area high-rise residential developments. has filed suit agains buyers who pulled out of purchasing unitx at the Bristol West End inMidtown Nashville. Jamisonm Station in Franklin has successfully forced buyers to the closiny table with suitsagainst them. Icon in the a joint venture of Bristol Developmentand , is also the defendan in several suits by buyers who signed contractes on units there, but claim the developers were deceptive in theier promises and their dealings regarding the Terrazzo in the Gulch has also been sued by buyersa claiming they were misled and that information was not disclosed Terrazzo’s developer is Crosland Tennessee.
Several localk condo developments have been put into receivershiby lenders. They include the Braxton in Ashland 5th & Main in East Nashvillew and Rolling Mill Hill in downtown