Posted on 06/29/2021 12:53:42 AM PDT by zeestephen
SURFSIDE, Fla. (AP) — About a block from the Miami-area beachfront condominium tower that collapsed sits its sister building, erected a year later by the same company, using the same materials and a similar design. It has faced the same tides and salty air.
(Excerpt) Read more at msn.com ...
Even if you wanted to leave...then what? Your value if you were to market it? Near zero?
I am pretty sure you can get a month long alaskan or mexican vacation for cheap right now.
many years ago ;ate 80s some company had a year long round the world cruise.
If I remember it was over 100k but it was all inclusive and looking at the literature it seemed reasonable to me at the time
Stay and risk your life.
Leave and loose your investment. Who would buy from you?
Has the city inspected the remaining building? What is their assessment?
Given the loss of life in the first building, here will be lawsuits and liability. Can the city just turn a blind eye to the potential of identical problems occurring?
When the media says there are 150+ people still missing, that means those people are dead in the rubble. Imagine the liability to the deep pocket builders, the management company, the city, etc.
Maybe try to rent to reduce the financial impact. I’d make sure I talked to a liability lawyer first.
Actually the builders, city shouldn’t have liability the owners were warned that the building was not safe it was up to the owners to all pay for the repairs the building has been standing for 45 years so I think the builder after this amount of time can’t be held responsible!!
Did they make repairs to Champlain Towers North? If they did, then they have nothing to worry about. If the building is neglected, then yes, it will see a similar fate to the collapsed building.
Do you remember this cruise?
Passengers Rescued From Stranded Norwegian Cruise Ship (Mar 25, 2019)
https://www.youtube.com/watch?v=ppUSww4tGVA
The video does not really depict how really bad that almost disaster was. And also disease in confined quarters with strangers is a real threat too. Especially during the past year.
Your value if you don’t leave and it collapses?.....
It was a 40 year old building the builders ard no longer liable. The property management, homeowners association and the homeowners are responsible
how many of the people that were squished
were homeless or working poor?
Does this one need $9 million in repairs like the one that collapsed?
https://freerepublic.com/focus/f-news/3971823/posts
In a Miami Beach condominium were the average cost to buy a 2-bedroom unit was between 600k and 700k and many of them 2nd homes?
There are gonna be many,many lawyers making some serious $$$ in the next few years.
Miami Beach isn’t where you’d find the poor...working or not.
I’m sure there were similar condominium buildings built during the 70’s and 80’s nationwide. Time to sell.
Well, I’ll bet they’ve got engineers looking at this right now. And they’re not going to take 3 years to come up with the money to make repairs, either.
Hard to have liability 40 years later. Whether its the engineer, contractor or other professional trades. Many of them are probably retired and the companies of business.
The City / County has liability if they approve or disapprove the remaining building . I would not want to be an owner. The owner’s will have a tough time selling their homes. The will get .25 cents on the dollar from a speculator who will either repair or wreck the existing building and build a new tower with more floors to recover their investment.
Many of these repairs need a vote as they assess the condo owners. Not sure if there is a cap but I remember a friend living in one in FL saying the condo next door charged everyone tens of thousands to repaint and fix the exterior. Knowing this, I'd read the contract for sure.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
