Stewards says USD 20 million Hawthorne property deal faces dispute over USD 1 million deposit

SWRD•2026-08-25

Deal and deposit terms

Stewards agreed to buy The Hawthorne property in Chatham, Massachusetts for USD 20 million cash, with a USD 1 million deposit in escrow.

Default notice and dispute

The seller issued an Aug. 18 default notice, citing a missed Aug. 10 closing date, and sought to keep the deposit as liquidated damages.

Stewards disputes the default claim and instructed the escrow agent to hold the deposit, with recovery likely to hinge on court action. Transaction completion is uncertain, with potential liquidity impact if the deposit is impaired or written off.

Sources

Stewards says USD 20 million Hawthorne property deal faces dispute over USD 1 million deposit

Sec

Stewards says USD 20 million Hawthorne property deal faces dispute over USD 1 million deposit

Deal and deposit terms

Default notice and dispute

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Stewards says USD 20 million Hawthorne property deal faces dispute over USD 1 million deposit

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