Miami condo collapse

[dad911]

Originally Posted by HobieMarty

I would not live in anything built on that piece of property. From what I understand, the surrounding buildings have not experienced the salt water issues that this property experienced. ......

I'm sure surrounding buildings do. The difference is maintenance. The proximity to the beach wreaks havoc with everything. I've seen metal light fixtures start to flake in less than a year.

We used to own a unit in the Fl keys, similar size complex, 160 owners. In our case the engineering reports were very similar, as was the pushback from other owners not to do the repairs. Our board let a 2 million dollar repair turn into an 8 million dollar repair by delaying close to 10 years. We bailed when the repairs were done, and bought in a smaller complex, 20 units, where the maintenance was always up to date, and falls in budget with the normal fees and reserves.

[widebody911]

Originally Posted by nota

the rich think they are special

yes a private home if condemned the cost is on the ownership

but I bet we will be/are paying for this mess

Privatize profit, socialize risk.

[group911@aol.co]

Bingo.

Originally Posted by widebody911

Privatize profit, socialize risk.

[HobieMarty]

https://youtu.be/M1-8RMcw9IA

This guy explains things very well. In this video he explains what role the shear walls played in the collapse.

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[dad911]

Here's a new twist: https://www.local10.com/news/local/2021/07/30/feud-between-mayors-surfside-keeps-on-pushing-for-access-to-site-of-building-collapse-miami-dade-keeps-denying-it/

Feud between mayors: Surfside pushes for access to site of building collapse; Miami-Dade keeps denying it..........they have a disagreement about who should be conducting what investigation and when. Trouble is Surfside officials may be suspects in the initial investigation into what caused a section of the 12-story Champlain Towers South to turn into a compact mountain of pancaked concrete......

[Bill Douglas]

One thing is for sure, the bottom will have fallen out of the market for beach front apartment buildings of the same look and era.

[javadog]

Originally Posted by dad911

Here's a new twist: https://www.local10.com/news/local/2021/07/30/feud-between-mayors-surfside-keeps-on-pushing-for-access-to-site-of-building-collapse-miami-dade-keeps-denying-it/

That’s absolutely ridiculous. Surfside has hired someone that is well qualified. I think Miami Dade needs to butt the hell out.

Reading further, I didn’t know that a nearby condo had been condemned and 300 more residents put out on the street.

[drcoastline]

Originally Posted by dad911

I bet there is already a plan for that property. There was a rush to demo the remaining units, control was pulled from the owners weeks ago and given to the courts.

https://www.theguardian.com/us-news/2021/jul/14/judge-miami-condo-collapse-site-sale

https://miami.cbslocal.com/2021/07/23/judge-compensation-surfside-collapse-survivors-victims-families/


150 million $$ for the victims. For a self-inflicted wound.

I'd say charge them for the cleanup, pay off any mortgages, split anything left equally amongst the heirs of the deceased.

Anyone on record fighting the special assessment should get nothing.

I am sure this ruling will be appealed.

[drcoastline]

Originally Posted by john70t

Agreed.

$150 million....initially...sez the judge...and the math doesn't add up.
Where do the rest come from? Taxpayers?

There is only $50 m of insurance.
Does the other $100 m come from a theoretical sale of the lot?
And the banks are still owed their past-due mortgages, insurance or not.

no not from tax payers.

$50M of insurance if it pays.
Yes the rest could come from the sale of the property. Not sure the judge has the ability at this point to force a sale.

If not enough proceeds form insurance/sale or wherever money comes from then the association declares bankruptcy just like any other corporation would.

[drcoastline]

Originally Posted by dad911

I bet there is already a plan for that property. There was a rush to demo the remaining units, control was pulled from the owners weeks ago and given to the courts.

https://www.theguardian.com/us-news/2021/jul/14/judge-miami-condo-collapse-site-sale

https://miami.cbslocal.com/2021/07/23/judge-compensation-surfside-collapse-survivors-victims-families/


150 million $$ for the victims. For a self-inflicted wound.

I'd say charge them for the cleanup, pay off any mortgages, split anything left equally amongst the heirs of the deceased.

Anyone on record fighting the special assessment should get nothing.

It doesn't quite work that way.

[HobieMarty]

Can someone explain why there is a Mayor of Surfside and a Mayor of Miami-Dade? I thought that Miami-Dade was a county.

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[URY914]

Originally Posted by HobieMarty

Can someone explain why there is a Mayor of Surfside and a Mayor of Miami-Dade? I thought that Miami-Dade was a county.

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Easy. The county has a mayor.

[HobieMarty]

Never heard of a county having a Mayor. I grew up in Florida, Okaloosa and Walton counties and never heard of having a county Mayor.

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[jyl]

What liability do the association’s current and past officers have, do you think?

[group911@aol.co]

Well, it's Florida!

Originally Posted by HobieMarty

Never heard of a county having a Mayor. I grew up in Florida, Okaloosa and Walton counties and never heard of having a county Mayor.

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[group911@aol.co]

It sounds like the board had been trying to do the right things for years but were repeatedly blocked by the members voting down their assessments for repairs.
At one point, most of the board resigned over it.
Hopefully, it will all come out at someones trial. Should make for a great docudrama.

Originally Posted by jyl

What liability do the association’s current and past officers have, do you think?

[URY914]

Originally Posted by group911@aol.co

Well, it's Florida!

South Florida is a bit different than the panhandle. I've lived in both.
South Alabama and South America North.
Not that there's anything wrong with that.....

[nota]

Originally Posted by URY914

South Florida is a bit different than the panhandle. I've lived in both.
South Alabama and South America North.
Not that there's anything wrong with that.....

there is a lot very WRONG with unlimited immigration esp when only fascists
are allowed in and in mass
I do NOT want to live in the third world
but that is miami a city overrun by third world people

[ErVikingo]

Originally Posted by nota

there is a lot very WRONG with unlimited immigration esp when only fascists
are allowed in and in mass
I do NOT want to live in the third world
but that is miami a city overrun by third world people

That is what elections are for. I'm not a fan of Miami (or of uncontrolled immigration) but for the most part is way different than a third world country.

[ErVikingo]

Originally Posted by VINMAN

My USAR team was down there. .

Most sincere thanks