Mixed-use Condos that double as a Hotel with shared common areas. WHY??

Simple solution - stay the fuck outta Florida.

Well, I’d assume it’s also the developers financial responsibility then?

I'd be more concerned about the perennial floods in south Florida. And it's only going to get worse in the next couple of decades.

I hope the elderly force DeSantis into more positions advantageous to them, eventually making FL a leading socialist state, while also dealing with the horrors of climate change and remaining solid red! It’ll be like a dark sitcom.

If the developer takes control of all common areas, then do the condo owners still have to pay HOA fees?

I know what will make HOAs more likeable: give total control to the assholes who shoddily built the condos as cheaply as possible then went bankrupt! What could possibly go wrong?

Dear Residents, due to a wedding being held this weekend, the lobby and pool area will be closed Saturday and Sunday. Please plan on entering only from the rear parking garage entry rather than the lobby entrance. Wedding fireworks will be held at 10:30pm Sunday evening. Welcome to Florida Condominium Ownership.

I vas promised all Russian neighbors in Miami condo. I no vant to associate vith American riff-raff.

If Rhonda Santis signed this into law, you can rest assured the little guy is being screwed over.

It's what Rhonda and the Republicans do best.

[quote] If Rhonda Santis signed this into law, you can rest assured the little guy is being screwed over.

Naturally.

This works to the benefit of large hotel chain corporations, who will dictate to condo owners what they can and cannot do. This will effectively put them in control of your home life.

It's like putting the US government in charge of your front yard.

This seems like a good reason not to buy a condo in a complex with a hotel. But someone needs to be in charge and wouldn’t the company running the hotel be better equipped to do that than a condo board? The risk I see is that the company overspends and charges the condo owners for it via HOA fees. But the alternative is a condo board trying to run a hotel. That seems like a worse fit.

I heard a radio interview of a financial expert who also had experience in real estate declare that he doesn't know why anybody would buy a condominium anywhere, anyhow.

Man, I wish could remember why he said that. He rattled it all off very persuasively.

Our co-op had to register as a hotel or the post office wouldn't let the doormen distribute the mail. They would have had to buy a whole system of private mailboxes.

[quote] South Florida condo owners are dumping their homes after getting slapped with six-figure special assessments

Maria Tkachun and her husband shelled out $490,000 for a seventh-floor apartment with a terrace and balcony boasting incredible views of South Florida’s Biscayne Bay in 2022.

The couple coughed up an additional $100,000 to renovate their unit in the Cricket Club condominium tower, installing extra-large format Italian porcelain tiles and adding a marble countertop and island to the kitchen.

Two years later, the pair got hit with a six-figure special assessment — a charge that condo owners and homeowners in HOA communities must pay to either finance a renovation on the property or to replenish an underfunded reserve.

“This is just outrageous,” Tkachun told The Wall Street Journal (WSJ).

Following the 2021 Surfside condo collapse — which killed 98 people due to construction flaws — Florida is requiring stricter safety standards and more frequent inspections, while many condo associations are raising fees to build a larger reserve for repairs.

The Cricket Club’s condo board recently proposed a nearly $30 million special assessment for repairs, like roof replacement and facade waterproofing — coming to more than $134,000 per unit owner.

Some owners, like Ivan Rodriguez, who liquidated his 401(k) retirement account to buy a unit for $190,000 in 2019, can’t afford the extra fees, so they’re putting up their condos for sale instead.

The WSJ reported condo inventory for sale in South Florida has more than doubled since the first quarter of 2023, to more than 18,000 units today, due to either rising insurance costs or repair fees for older buildings that aren’t passing inspections.

“I think this is just the beginning,” Greg Main-Baillie, an executive managing director at real estate firm Colliers, told the WSJ.

But sellers are finding few takers. Rodriguez originally listed his unit for $350,000, but was forced to keep marking it down until finally it sold for $110,000 in April — 42% less than what he paid for it.

The condo association did a great job maintaining the condo that fell down in Miami.

OP let me explain something to you.

See this? This little tropical slice of Blade Runner? This is Brickell Avenue. This used to be the Central Business District.

Can you name on single corporation off the top of your head that is headquartered in Miami?

These are all condominium towers.

Most of these are less than twenty years old.

The year round occupancy for these buildings is I imagine, less than twenty percent. Have you been to downtown Miami in the summer? You could take a shit in the center of Flagler Street and nobody would notice. Nobody lives here. Fifty, sixty story skyscrapers are completely dark in the evening.

Developers do not want home owners associations to have powers because the point of these towers is for nobody to live there full time.

These are safety deposit boxes. Money is laundered, parked in real estate and then the condos are rented out or used as hotel rooms. The owner may come for a week or two during Art Basel. But then it’s back to Taipei or Medellin or Jakarta or Doha or whatever fucking kleptocracy they came from. Nobody is supposed to take up residence in these residences.

[quote]Well, I’d assume it’s also the developers financial responsibility then?

Yes, but while the developer would have to ensure fire safety and elevator operation and other building code issues in common areas, they could neglect common areas with regard to cleanliness, air conditioning/heating, painting, etc. They could let the front lawn go brown and strewn with trash, neglect to remove fallen tree limbs and trees that died when watering systems were turned off. They could close swimming pools because of repair and maintenance costs. They could replace an old intercom system with a new cheap one that frequently fails. They could stop cleaning the drains in parking garages... The remedy for any of these things might come only through costly litigation.

R16, that is the most depressing thing I've ever read in my life, based on the current homelessness crisis.

that’s true wherever billionaires park their money. NYC, London, Dubai. These apartments are assets, not homes. Of course, parking money in empty apartments is something of a house of cards, as China learned

R18 that's not even the best part.

The best part of it is that Miami is NO LONGER LIVEABLE.

That was just a typical afternoon Miami shower R20!

"Can you name on single corporation off the top of your head that is headquartered in Miami?"

Christofascist Cubanos of America, Inc. Marco Rubio, President is headquartered there, no?

It may be a non-profit, but still it's headquartered there and has a huge membership.

Who gives a shit? Don’t retire to Florida and buy into one of these condos.

r16, is correct. More proof in today's story. Who would insure luxury housing on sinking ground? Everything is a scam that benefits the .1 percent while the rest of us fight over table scraps.

So basically...

[quote]You could take a shit in the center of Flagler Street and nobody would notice.

I would.

Is this happening in NYC, too?

the Plaza went hotel/residences.

Ryder, Burger King/RBI USA, Centene, Royal Caribbean, Carnival, Lane Bryant, Norwegian, H&R Block, Vitas, VISA, REEF, monday.com, Perry Ellis, etc.

R22

H&R Block is headquartered in Missouri

Lane Bryant is headquartered in Ohio

Ohio is exactly where Lane Bryant would be headquartered

Now I don’t like to do this, but sometimes it’s required

R29

Are you autistic or something?

Do you think goddamn LANE BRYANT, THE FAT WOMAN’S CLOTHING STORE, WOULD BE HEADQUARTERED IN MIAMI?

[bold]DO YOU EVEN KNOW WHAT MIAMI IS?[/bold]

Sorry I forgot where I was posting. I’ll try again.

[bold]DO YOU EVEN KNOW WHAT MIAMI IS?[/bold]

Why are you so angry, R31?

Because other people are stupid, r32.

I hope all of those people buying up million dollar condos in Miami lose all of their money when the sea level rises.

Fuck them all.