A plaintiff condominium sponsor (sponsor) moved for a judgment on the pleadings pursuant to Fed. Rule Civ. P. 12(c) and for fees and costs pursuant to a purchase agreement (contract) between the sponsor and the purchaser (purchaser). The sponsor sought release of the deposit, on the grounds that the defendant purchaser failed to close. The purchaser had agreed to buy a new construction condominium apartment and had provided a 20 percent deposit, in the amount of $2,113,000, to be held in escrow.
After the construction was completed in July 2017, the sponsor notified the purchaser of a scheduled closing date. The purchaser did not close within the time specified by the contract. The sponsor thereafter issued a Notice of Default (Notice) on Nov. 9, 2017, giving the purchaser 30 days to cure and close. The purchaser failed to close within the cure period.
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