World

Luxury Condo Deposits At Risk: buyers fight for refunds as foreclosure looms; branding future uncertain

Nilesh Undavia and other buyers are struggling to receive their deposits for unfinished luxury condos in Boca Raton. The Mandarin Oriental Residences project has faced significant construction delays, impacting buyers' financial investments. A $417.7 million foreclosure lawsuit complicates the situation for prospective homeowners seeking refunds. Penn-Florida Companies attributes delays to various challenges, including rising construction costs and supply-chain issues.