Latest news with #SurfsideCollapse
Daily Mail
24-06-2025
- Business
- Daily Mail
Condo owners wake up to reality that homes are worthless
Florida's condo market has become a nightmare for many residents trying to sell. The Sunshine State's retirees who flocked there for affordable condos now find themselves stuck with old properties worth virtually nothing that they are desperate to escape . Pending mandatory repairs and rising HOA fees on aging towers have driven owners to list in a flooded market. In Boynton Beach for example, a two-bedroom, two-bathroom condo at Hunters Run Country Club with access to a resort-style pool and high-end amenities is selling for just $10,000. The owner paid $60,000 for it in 2001. It's now worth $3 per square-foot. On Marco Island, a one-bedroom, two-bathroom condo complete with water access at Sunrise Bay Resort is listed for $9,000. In contrast, a newer build nearby on Marco Island with an oceanfront entrance is selling for $629,000. But the rock bottom prices still won't move inventory. Buyers aren't biting. Instead, most are opting for newer builds, which come with modern storm protections, amenities and HOA fees that won't skyrocket any time soon. The dramatic shift comes after a new Florida law — passed in response to the deadly 2021 Surfside collapse that killed 98 people — imposed strict inspection and funding requirements for aging buildings. Condo associations must now conduct structural safety assessments and collect hefty reserve funds for future repairs. 'I think we are going to see a growing divide,' attorney Alessandra Stivelman of Eisinger Law tells 'New condos built to modern codes and with fully compliant reserves will thrive — while older buildings may struggle to survive and face termination, bulk sales, or redevelopment.' Now, owners are trying to dump their condos. The problem is, no one wants them. The State of Florida Property Management Association (SFPMA) reports that at Miami's Cricket Club, a 50‑year‑old tower, each of the 217 owners were hit with an extra $134,000 in assessments. Summit Towers in Hollywood, Florida, faced a $56 million assessment, or $99,000 for each of the 567 condos, which completely tanked the value of the building. Condos built over 30 years ago have seen a staggering 22 percent drop in value over the past four years, reports SFPMA. Meanwhile, new units have climbed in value 12 percent in just two years. Mortgage insurer Fannie Mae has now blacklisted more than 1,400 Florida condos due to deferred repairs or insurance lapses, which halts any attempt at a sale. Hard‑hit condo dwellers on fixed incomes and retirees see no way out. 'That's the million-dollar question – what will happen next and when,' Stivelman says. 'While this cycle of new and replacement buildings may help improve the safety and durability of Florida's condo inventory, it also raises concerns about displacement, affordability, and access for long-time residents. 'Many may not be able to absorb escalating costs or compete in a market shifting toward luxury redevelopment.' Despite the crisis, Governor DeSantis has acknowledged the 'serious problem' in the condo market, but offers no immediate bailout. DeSantis did sign a new law that kicks in July 1, that will rein in homeowners associations (HOAs) long accused of slapping residents with surprise fees and fines for petty infractions. DeSantis signed HB 1203 into law earlier this month, ushering in sweeping reforms aimed at making HOA boards more transparent and less intrusive. Under the new rules, any HOA with more than 100 homes or condos must post key documents — including budgets, covenants, and bylaws — on a publicly accessible website by January 1. Board members and property managers will also have to complete 4 to 8 hours of state-approved education each year. And homeowners must now get at least 14 days' notice, along with an agenda, before any board meeting. The changes are being welcomed by property owners who say they've been blindsided with arbitrary violations and ballooning fees with little warning or recourse. And this could be just the beginning of nitpicky HOAs. Lawmakers have signaled more limits may be on the way, in Florida and other states. But it's not enough for many retirees. As the crisis continues in Florida, the state may lose them as they didn't anticipate repair bills, high insurance rates and sagging condo values that are squeezing seniors out. More frequent natural disasters such as hurricanes and flooding have also led to more repairs and mitigation needs. As a result, the number of condos on the market has soared, and a 'mass exodus' is expected. There were 20,293 condo listings in the Palm Beach, Broward and Miami-Dade counties in the second quarter of 2024, ISG World reports. The figure is an 143 percent leap from the 8,353 in the same period 2023. Almost 90 percent of those for sale are in buildings more than 30 years old.
CBS News
24-06-2025
- General
- CBS News
Families gather in Surfside to remember loved ones lost in condo collapse 4 years ago
Tuesday marks four years since the Champlain Towers South condominium collapsed in Surfside, killing 98 people and becoming one of the deadliest structural failures in U.S. history. On Tuesday morning, families gathered for a Lighting of the Torch Ceremony at Veterans Park at 1:22 a.m. where the names of those who died were read. Deven Gonzalez said she was in her condo, on the 9th floor, when the building collapsed. She described the floor falling away. Gonzalez is one of three survivors that made it out alive, her father, Edgar Gonzalez, did not. She said she's still dealing with her own trauma and the unimaginable grief. "I'm just glad that I can take a moment just to, one deal with my own trauma, but also be able to mourn the loss of my parent along with everybody else mourning the loss of their relatives. Not a lot of people can relate to what we are going through and these are one of the few moments and nights where finally someone can kind of understand when losing a relative to such a big, tragic, event that should have never happened," she said. A Remembrance Ceremony will be held at 10 a.m. at 88 Street and Collins Avenue. The night of the Surfside collapse On June 24, 2021, at 1:22 a.m., Champlain Towers South, once located at 8777 Collins Avenue in the Town of Surfside, partially collapsed. The 12-story condominium building had 136 units, and 55 were involved in the collapse. Firefighters used truck-mounted ladders to reach people trapped on balconies and pulled 35 people out of the building. In the early hours of the rescue mission, officials reported that only one person had died and 10 others were injured as fire rescue and technical rescue teams from Miami-Dade and Broward counties responded, cutting off utilities from the site as life-saving efforts continued. Amid the chaos, a family reunification center was set up down the street for everyone looking for unaccounted and missing relatives. Collins Avenue was also closed off as first responders continued efforts to find and save lives. Soon after, additional road closures were made. Miami-Dade Mayor Daniella Levine Cava signed an emergency order to open the door for federal assistance to further help the rescue missions at the collapse site, shortly after Florida Gov. Ron DeSantis declared a state of emergency. At a press conference earlier that day, President Biden addressed the collapse, saying he was ready to provide federal assistance as soon as DeSantis declared the state of emergency. As that tragic Thursday came to a close, officials said at least one person was confirmed dead and 99 other people were unaccounted for as rescues continued. When Friday came, those numbers changed for the worse. The days following the Champlain Towers South collapse On Friday morning, Cava said the death toll had risen to four people and 159 people were unaccounted for. Additionally, officials identified the first victim of the collapse: Stacie Dawn Fang, 54, who was the mother of the 16-year-old boy who survived. Authorities said Fang was pulled out from the rubble and transported to Aventura Hospital, where she died from her injuries a couple of hours later. On Saturday, Cava addressed the public again to say that rescue teams will continue working around the clock until everyone is found. "Our top priority continues to be search and rescue. We continue to have hope," she said. "We are continuing to search, we are looking for people alive in the rubble that is our priority, and our teams have not stopped hour after hour." Despite the positive outlook, the numbers changed again to five confirmed deaths and 156 people unaccounted for as the search continued into Saturday afternoon. On Sunday, those numbers changed to nine deaths and 152 unaccounted for. Cava announced that Miami-Dade Police had identified four additional victims: Leon Oliwkowicz, 80; Christina Beatriz Elvira, 74; Luis Andres Bermudez, 26; and, Anna Ortiz, 46. Later on Sunday, the City of Miami Beach also declared of state of emergency to ensure its eligibility for reimbursement of emergency-related expenditures as it was in close proximity to Surfside. Officials also announced that day the creation of a centralized alert system, which provided updates and access to resources to families and people who were displaced by the collapse. As the search for survivors continued, memorial walls popped up across Surfside, paying tribute to those who had died and those who were still missing. Out of respect for those impacted by the collapse, Miami Beach and North Bay Village canceled their Fourth of July events. The body of Hilda Noriega, 92, who was the mother of North Bay Village Police Chief Carlos Noriega, was one of the victims recovered from the collapse. Nearly a week after the collapse and brief stop on search and rescue operations, officials announced that the death had doubled to 18, including two children. At the time, then-Tropical Storm Elsa was moving through the Caribbean, causing concerns among many Florida officials, including DeSantis, who reassured people that the state's Division of Emergency Management would continue working on contingency plans for potential tropical weather impacts. On that day, Biden arrived in South Florida and delivered remarks after meeting with loved ones impacted, saying that he remained optimistic about the search and rescue missions. The next day, the death toll rose to 22, and 126 people remained unaccounted for. Following the announcement, Cava signed an executive order to demolish the rest of the unstable structure. Eleven days after the condo collapsed, the remaining part of Champlain Towers South was demolished. On July 5, 2021, the death toll rose to 28 and the number of people unaccounted for was 117. After another eight victims were found the following day, the death toll rose to 36. Later that afternoon, Cava said authorities had shifted their operations from search and rescue to search and recovery as the death toll climbed to 54 deaths with 33 of those victims identified. One day later, the death toll grew by an additional 10 victims, now claiming the lives of 64 people. By day 16 of the recovery mission, the death toll grew to 79 people and 61 remained unaccounted for. At that time, 53 victims were identified by authorities. On July 10, 2021, the death toll rose to 86 people, 62 of them were identified by officials, and an additional 43 were still unaccounted for. The next day, those numbers changed to 90 deaths, 71 victims identified — including three children — and 31 people unaccounted for. More grim news came out two days later as the death toll rose again to 94, with 83 of those victims identified. The weather at the time impacted recovery efforts throughout the days as rescue officials worked tirelessly to continue finding everyone. The day after, officials announced another victim was found and the death toll grew to 95 people and 85 of the victims were identified. Victims were still being identified a month into the Surfside collapse As crews neared the end of the search nearly three weeks after the collapse, 97 victims had been recovered and 8 people were potentially unaccounted for. Another prominent victim found in the rubble was Theresa Velasquez, 36, who was a Los Angeles-based executive at Live Nation, who was visiting her parents Julio, 67, and Angela, 60. They also died in the collapse. Nearly a month after the collapse, the 96th and 97th victims were identified as Anastasiya Gromova, 24, and Linda March, 58. On July 26, 2021 — over a month after the collapse — the last victim was identified by officials. Estelle Hedaya, 54, had finally been found when she was removed from the rubble. Her brother Ikey, who lives in New York, told CBS News Miami that New York City Police officers came to his home to inform him about his sister. Nearly a year after the collapse, a Miami-Dade Fire Rescue review memo stated that first responders did everything they could to rescue everyone despite not having the necessary equipment to save some of them, such as Velasquez, whose voice was allegedly heard in the rubble before crews were able to find her. One by one: all the victims of the Surfside condo collapse Ninety-eight lives were lost on June 24, 2021: Stacie Dawn Fang, 54 Antonio Lozano, 83 Gladys Lozano, 79 Manuel LaFont, 54 Luis Bermudez, 26 Marcus Joseph Guara, 52 Leon Oliwkowicz, 80 Ana Ortiz, 46 Christina Beatriz Elvira, 74 Michael David Altman, 50 Frank Kleiman, 55 Hilda Noriega, 92 Magaly Elena Delgado, 80 Bonnie Epstein, 56 Andreas Giannitsopoulos, 21 Emma Guara, 4 Lucia Guara, 11 Anaely Rodriguez, 42 Claudio Bonnefoy, 85 Maria Obias-Bonnefoy, 69 Graciela Cattarossi, 48 David Epstein, 58 N/A, 7 (At the family's request) Gonzalo Torre, 81 Ingrid Ainsworth, 66 Tzvi Ainsworth, 68 Elena Blasser, 64 Andrea Cattarossi, 56 Francis Fernandez, 67 Jay Kleiman, 52 Nancy Kress Levin, 76 Linda March, 58 Richard Augustine, 77 Graciela Cattarossi, 86 Gino Cattarossi, 89 Elena Chavez, 87 Aishani Gia Patel, 1 Bhavna Patel, 36 Vishai Patel, 42 Elaine Lia Sabino, 71 Simon Segal, 80 Marina Restrepo Azen, 76 Deborah Berezdivin, 21 Brad Cohen, 51 Gary Cohen, 58 Nicole Langesfeld, 26 Gloria Machado, 71 Ruslan Manashirov, 36 Ana Mora, 70 Juan Alberto Mora, 80 Juan Alberto Mora Jr., 32 Ilan Naibryf, 21 Alexia Maria Pettengill Lopez Moreira, 9 Anna Sophia Pettengill Lopez Moreira, 6 Luis Vicente Pettengill Lopez Moreira III, 3 Luis Pettengill, 36 Harold Rosenberg, 52 Maria Teresa Rovirosa, 58 Luis Sadovnic, 28 Leidy Vanessa Luna Villalba, 23 Maria Gabriela Camou, 64 Edgar Gonzalez, 42 Beatriz Rodriguez Guerra, 52 Oresme Gil Guerra, 60 Alfredo Leone, 48 Lorenzo De Oliveira Leone, 5 Sophia Lopez Moreira, 36 Fabian Nunez, 57 Miguel Pazos, 55 Richard Rovirosa, 60 Maria Torre, 76 Angela Velasquez, 60 Theresa Velasquez, 36 Benny Weisz, 31 N/A, 5 (At the family's request) N/A, 44 (At the family's request) Nicole Dawn Doran, 43 Miguel Leonardo Kaufman, 65 Arnold Notkin, 87 Maria Notkin, 81 Michelle Anna Pazos, 23 Maria Popa, 79 Mihai Radulescu, 82 Lisa Rosenberg, 27 Judith Spiegel, 65 Julio Cesar Velasquez, 66 Margarita Vasquez Bello, 68 Catalina Gomez Ramirez, 45 Rosa Saez, 70 Cassie Billedeau Stratton, 40 Luis F. Barth Tobar, 51 Valeria Barth, 14 Moises Rodan Brief, 28 Andres Levine, 26 Mercedes Fuentes Urgelles, 61 Raymond Urgelles, 61 Anastasiya Gromova, 24 Estelle Hedaya, 47 Remembering the Surfside condo collapse victims On Dec. 12, 2021, divers at Neptune Memorial Reef installed a memorial plaque on Sunday afternoon to honor the 98 victims. At his first special commission meeting in March 2022, then-mayor Shlomo Danzinger worked on making a permanent memorial for the victims a priority during his term at an event marking the one-year commemoration of the tragedy. That memorial was presented to the public on May 12, 2022. At the commemoration event to mark one year since the tragedy, first lady Jill Biden visited Surfside to pay her respects to the victims' families and survivors of the collapse while she was touring a federally qualified health center in Palm Beach County as part of the Biden administration's "Cancer Moonshot" initiative. On Aug. 4, 2022, Surfside renamed a portion of Collins Avenue as 98 Points of Light Way in a special tribute to the 98 lives lost. Families seek justice for the 98 victims As the community sought answers for why the condo collapsed and the death toll climbed, several lawsuits were filed by victims' families, including criminal and civil investigations, with legal fees and costs estimated to reach $100 million. "The whole world wants to know what happened here," Mayor Cava said at the time. Everyone, she said, wants to know "what could have been prevented and how we make sure it never happens again." On July 14, 2021, a judge approved the sale of the property where the condo stood to compensate the victims' families. "This is obviously a case where there is no amount of money that could possibly be available to compensate these families for their suffering and their loss," said Miami-Dade Circuit Court Judge Michael Hanzman. "Well, there's no amount of money in the world that could do that." Though many said a memorial to the victims should be built on the land, Hanzman said the sale would benefit their families instead and that their memorial could be built at a nearby park. At one point, there was discussion that even a community center would be built upon the site. Despite hours of heated debate and protest, Surfside commissioners approved a controversial plan to build a 52-unit luxury condominium on the collapse site. One of the lawsuits was filed by Enrique Arango, a Miami firefighter whose 7-year-old daughter died in the collapse, who sued the Champlain Towers South condo association and a slew of other defendants for her wrongful death. In the filing, Arango's representatives claimed that the defendants were so reckless or wanting in care that it constituted a "conscious disregard or indifference to the life, safety, and rights of persons." At a hearing on the future site of the collapse, Hanzman was informed that there was an interested buyer in the property. Michael Faye, who had been appointed to work on the real estate deal, was instructed by the judge to negotiate the sale of the land, which an unknown company reportedly wanted to spend between $110 and $120 million. On Sept. 30, 2021, Hanzman approved the $120 million sale agreement of the site to East Oceanside Development while it was still on the auction block. The collapse site officially hit the auction block on May 24, 2022. The collapse site was officially sold to the Dubai-based developer DAMAC Properties for that $120 million price tag. On Sept. 1, 2021, another hearing announced that $49 million would be split amongst the victims and their families as they continued to discuss the future of the collapse site. In March 2022, the victims' families agreed to a $55 million tentative settlement. In the midst of 2021's legal hearings, four people were arrested and charged for allegedly stealing the identities of victims of the Champlain Towers South collapse in Surfside. On Oct. 6, 2021, Hanzman ruled that a mediator would be assigned to go through the claims from the collapse, who was expected to help reach an agreement on the distribution of money from the planned sale of the condo site. Later that month, Hanzman pushed for compromise on potential payouts to victims and their families, urging all involved parties to continue talking out how to best honor the 98 killed. While the families' compensation was still being determined in court, Hanzman ruled that those who owned units at the condo will divide $83 million for property losses. That settlement eventually bumped up to $96 million. On Nov. 17, 2021, victims and their families filed another lawsuit that claimed the construction of the adjacent Eighty Seven Park tower damaged and destabilized the Champlain Towers South building, leading to its collapse. By the end of 2021, Hanzman announced that the various lawsuits filed on behalf of the victims and their families will likely go to trial in summer 2022, saying that the time frame would be either July or August. "I'm not granting extensions or continuances. Not in this case," he said. "Come next summer, we're going to be picking a jury in this case. It's not going to go beyond that." One of those lawsuits went to trial in March 2023. On May 11, 2022, a $997 million settlement was reached in a class-action lawsuit over the collapse, where all the money was determined to be divided among victims' families and survivors. However, attorney Stuart Grossman who was part of the negotiations, said it will never undo the loss of lives from the tragic event. "This money is meant to compensate parents, children, husbands, and wives who lost loved ones in this disaster," he said at the time. "For their mental grief, for their mental pain, and suffering and it isn't probably not even going to be enough to do that." The total settlement eventually bumped up to about $1.02 billion. That settlement was approved on June 23, 2022 — one day before the one-year mark of the tragedy. Later on, another $2 million from an insurance settlement went to the survivors and victims' families.
