Oh, Crescent Club. What has happened there? The unfortunates in contract seem to be log-jammed in a buyers remorse situation that has everyone seeing stars. And not the good kind.
Quick condo buying recap 101: when one purchases new construction in progress and the closing doesn’t occur by a certain date (usually contract specific), one enters a rescission period during which it’s possible to legally opt out of the contract and received a full refund on the deposit held in escrow by the developer.
Clearly the Crescent Club developers are having serious financial troubles because they’ve failed to complete the building by all deadlines, and have now reached a second round of irate condo buyers in their rescission period trying to get their deposits back (as documented in forum/comment threads here and here).