1.   Prices have been cut by developers anxious to offload unsold apartments.

2.   After the sponsors defaulted, the First New York Bank for Business took over the unsold apartments the sponsors owned.

3.   Co-op apartment developments that need financial help frequently turn to outside investors who arrange new financing in return for the right to market unsold apartments.

4.   In such cases, she said, the co-op often ends up with a court order allowing it to collect the rent on the unsold apartments.

5.   Last year, the Cheshire Group, a Manhattan-based investment concern, was given control of unsold apartments in the complex as part of a refinancing plan.

6.   Meanwhile, the unsold apartments were rented out.

7.   Nonetheless, when a co-op building suffers from high debt and many unsold apartments, a conversion to the condo format may be worth the effort.

8.   Not only would the agency be responsible for the unsold apartments, but it also would hold the individual mortgages of the families who had bought apartments.

9.   Steven Goldman, a Manhattan lawyer who represents both sponsors and co-op boards, acknowledged that sponsors do not appear to be in any rush to sell unsold apartments.

10.   The unsold apartments were taken over by the Silverado Savings and Loan Association of Denver and then seized by the Federal Deposit Insurance Corporation after Silverado collapsed.