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What % deposit on a new development is normal?

Started by sohoman
over 10 years ago
Posts: 76
Member since: Mar 2013
Discussion about
Ian Schrager's new luxury development with architects Herzog and de Mueron at 160 Leroy Street in West Village will be asking for 15% upfront and then 10% 6 months later. The building will be delivered in 2 1/2 years time. I thought 10% was all you paid on a new development until closing. Any thoughts?
Response by gothamsboro
over 10 years ago
Posts: 536
Member since: Sep 2013

You don't, by chance, shine shoes for a living, do you?

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Response by KeithBurkhardt
over 10 years ago
Posts: 2988
Member since: Aug 2008

Many new developments ask for 10% at signing and an additional 10% e months later.

Keith Burkhardt
TBG

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Response by KeithBurkhardt
over 10 years ago
Posts: 2988
Member since: Aug 2008

"6 months.."

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Response by sohoman
over 10 years ago
Posts: 76
Member since: Mar 2013

Thank you Keith

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