I hope you didn't add extras to your new Condo.He will want the money for it.
some times the builder/owner is a decent individual and will let you out of it.
It happened to me I got my down payment back I was lucky. And they did extras for me like putting in wood floors up stairs in the bedrooms and tile all the way up in the 3 bathrooms. But I guess he knew it will sell and he would get his money.And he did. But that was when the real estate was still going up( 2006.)
GOOD LUCK
cprisco@defalcorealty.com

Gale,
Generally, sales contracts for new construction in the New York Region are quite developer-friendly. Because a developer does not fully control the timing of the delivery (municipal approvals, union actions and unexpected site conditions are among the causes)most contracts require a buyer to take delivery when the unit is ready. Occasionally, there is an "out clause" after a significant period has elapsed.
I hate to join the chorus, but I too feel that the answer to this question should come from an experienced real estate attorney, and hopefully you were, and are represented.

Gale,
Hopefully you were represented by your own experienced in NYC real estate attorney. If not and you still have not purchased I have a list of real estate lawyers that I can send you if you ask me by email. I am not an attorney but from my experience anything (within reason) can be written into a contract by your attorney and if accepted by the other side can be binding, so it's possible that something can be written into the contract to that effect but once again only an attorney can advise you! You might want to consider using a buyer broker to help you find arrange to show you and negotiate for you purchase. Please take a look at my profile and website and consider using me (at no added cost) if you are not represented by a agent/broker yet)
Have a Happy and Healthy Thanksgiving!

Generally you can not. But there are terms within the contract that state for such events.
A real estate attorney would be the solution.

Good luck! And Happy Thanksgiving!

Gale,

Agreed, refer to your contract and contact an attorney..........

Good luck

Please read your contract; you will find the answer there. Also, confer with your attorney.

Typically.. No. As a broker I was involve in a new development sale that was 1 year over schedule and the buyer still had to close. The sponsor usually packs in some provisions in the contract in case of a delay. The best person to ask is your lawyer. Your lawyer has reviewed the offering plan and contract. The answer should be right there.

All the best

Paul Macapagal