Rhythm developer latest to sue would-be buyers - Nashville Business Journal:

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, the Brentwood-based developer of the 105-unit condo building that came onlin ethis spring, filed suit Friday againsg four buyers who would not or could not close on thei r units. The suits, filed in Davidson Counth Chancery Court, accuse the buyers of violating the terms of their contracts and ask for the developer to be awardede the full purchase pricew ofthe units, plus legal costs. The unita range in price from $317,000 to The sour economy, tight lending conditionas for buyers and a glut of new condows coming onto the market in the past year have combineed to slow sales and create financial headaches forcondp developers.
There are legal conflictes with reluctant buyers atseveral Nashville-ares high-rise residential developments. has files suit against buyers who pulleed out of purchasing units at the Bristol West End inMidtowmn Nashville. Jamison Station in Franklin has successfully forces buyers to the closing table with suits against Icon inthe Gulch, a joint venture of Bristol Development and , is also the defendan in several suits by buyers who signec contracts on units there, but claim the developerw were deceptive in their promise and their dealings regarding the Terrazzo in the Gulch has also been sued by buyerse claiming they were misled and that information was not disclosedc properly.
Terrazzo’s developer is Croslanrd Tennessee. Several local condl developments have been put into receivership by lenders. They include the Braxton in Ashland City, 5th & Main in East Nashvills and Rolling Mill Hill indowntown Nashville.