Insurer Plans to Make Up-Front Payment for Damages in Surfside Condo Collapse

Florida insurance market

Just hours after the collapse of a Surfside condo tower last Thursday, a Miami attorney filed a class-action lawsuit seeking millions of dollars in damages from the building’s condo association after accusing the board of failing to protect the lives and property of residents. On Monday, the insurance carrier for the Champlain Towers South condo… Continue reading Insurer Plans to Make Up-Front Payment for Damages in Surfside Condo Collapse

Miami-Area Condo Board President Warned of Need for Repairs in April Letter

commercial real estate loans

The president of the Champlain South Towers condo association told residents in April their building was in desperate disrepair and urged them to pay the $15 million in assessments needed to fix structural problems, in a letter reviewed by The Wall Street Journal. The condo building collapsed into a pile of rubble Thursday, leaving at… Continue reading Miami-Area Condo Board President Warned of Need for Repairs in April Letter

Local Municipalities Ramping Up Building Inspections After Surfside Condo Collapse

Florida insurance market

Local municipalities are ramping up inspections of older buildings following the collapse of the Champlain Towers South building in Surfside. Miami-Dade County Mayor Daniella Levine Cava announced Monday that she is directing the Department of Regulatory and Economic Resources to begin a 30-day audit of all residential properties five stories or higher that are 40… Continue reading Local Municipalities Ramping Up Building Inspections After Surfside Condo Collapse