In 2006, plaintiffs entered into an agreement with defendant Rutherford for the purchase of a condominium apartment in Manhattan. Plaintiffs put down a 10% deposit on the apartment, and later a "second" deposit (both of which were held in escrow by defendant Katsky Korins), but were unable to close on the transaction due to failure to obtain necessary financing. The agreement provided that upon a default by the purchaser, the seller would be entitled to "retain, as and for...
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