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The condominium plan didn't work out either.
Mr. Horn's condominium plan was actually the second to be abandoned in recent weeks when a building was sold to hotel operators.
The owner agreed to sell the apartments, but only when — and if — a condominium plan was approved by the attorney general.
The condominium plan has now been declared effective, but the approval could be withdrawn if too many buyers back out, brokers said.
Even assuming that the condominium plan for the building goes into effect, Mr. Ebersman added, the sponsor is retaining "the unconditional right to rent rather than sell the remaining apartments".
The luxury market was so strong that Mr. Rubenstein got his deposit back, and the sponsors immediately filed a condominium plan amendment to raise the asking price by $2 million, to $22 million, Mr. Lansill said.
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In many cases, the projects already have condominium plans filed with the attorney general's office or have condominium-level finishes and amenities.
Another new project on the eastern end of Chinatown that will probably appeal to the Fujianese market is a 13-story condominium planned for 136 East Broadway.
Channeling a Chelsea tradition of activism — there are eight popular and vocal block associations — Mr. Groncki joined in a rally a few years ago against the Chelsea Enclave, a condominium planned for the leafy campus of the General Theological Seminary of the Episcopal Church, on Ninth Avenue at 21st Street.
But the condominium planned for TriBeCa with the dizzyingly ambitious vision of a small development firm, and an exotic design by the Dutch architect Ben van Berkel, may stand out as one of the worst casualties of the city's banking and housing crises.
But Stuart M. Saft, a real estate lawyer who has drafted dozens of large condominium plans, questioned whether a condo could be forced to pay for a staff member who worked for a single apartment owner, rather than all the owners in the building.
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