Miami landlord threatens to evict all 102 residents

[Opti]

www.msn.com/en-us/money/realestate/miami-landlord-threatens-to-evict-every-tenant-in-102-unit-building/ss-AA1cKwgW?ocid=msedgntp&cvid=c6784ef6ea7c4fa287b845de06756fdb&ei=12#image=4


Lopez said: 'We need that money for the building.' The owners association filed a motion to intervene in the eviction lawsuit and asked for a stay of the proceedings this week. The move was granted by Miami-Dade County Court Judge Stephanie Silver until a hearing which has been set for June 27. In 2018, the building passed its 60-year recertification from the city of Miami Beach. It had just one open violation, which was for the not permitted remodeling of a unit. However, an engineering report, which was ordered by Shaulson's company last summer, found cracks in the concrete and other issues which will allegedly cost at least $2 million to fix. The landlord claimed the building does not have adequate insurance and said it had raised the issue in a series of letters to the owners association sent over several years. A property insurance company for the building said it would not renew its policy due to the age and condition of the roof. 'The failure by the Tenants and the Association has left Landlord with no choice but to start an eviction action,' J. Joseph Givner, the landlord's attorney, told the association in a letter on Friday. It proposed a 'compromise,' which came with a 10-day deadline to respond.

The landlord, a company controlled by Millennium Management, which is led by healthcare tycoon Abraham Shaulson (pictured left), claimed they failed to properly maintain and insure the 69-year-old building, according to the Miami Herald.


I don't know what is going to happen, but I think he sees $ signs and views the unit owners as people in the way of his vision. What do you think will happen? From the article, She said Shaulson's approach has been hostile since the company bought the property from Barry University in 2019 for $3.2 million.

[jerseygirl]

Cracks in the concrete?? That led to collapse of a Miami condo building and 95 dead

[busymom]

There was just recently an apartment building that partially collapsed in Iowa, killing 3.  I wouldn't want to live in a building with structural problems.  I don't care how nice a neighborhood it's in.

[raeoflyte]

I thought there'd be more info in the article. I don't really understand the hoa's involvement, but if the owner can't insure the building that's a problem. I wouldn't want tenants living there in that situation.

[billisonboard]

Do I have this right? Person "A" owns a unit but leases the property it sits on from company "B"? Who owns the non-unit parts of the building complex? Would "B" have to compensate "A" for their unit if they successfully evict them? Too many questions unanswered.

[laterbloomer]

Jun 20, 2023 9:47:08 GMT -5 billisonboard said:

Do I have this right? Person "A" owns a unit but leases the property it sits on from company "B"? Who owns the non-unit parts of the building complex? Would "B" have to compensate "A" for their unit if they successfully evict them? Too many questions unanswered.

I also don't understand how this works. Are they tenants or owners? If they're tenants why do they have to pay for the building? If owners how can they get kicked out?

[daisylu]

That is one of the most confusing "articles" that I have ever read.

The agreement calls for the landlord to reinstate the lease if the unit owners agree to a list of terms

Are they owners or leasers? There was a reference that someone paid $130,000 to move to a unit there. This whole thing is very confusing.

[billisonboard]

I do know of a situation in which people own houses (predominantly ski cabins) in a defined area that they collectively lease from the state Department of Natural Resources. So such does happen. The relationship is well laid out in written documents. I would have to assume that is the case here. I am thinking this is a dispute over meeting terms of the agreement. There might be some ill intent by this new holder of the lease attempting to void the lease by an extreme reading of the terms. But ultimately a judge is going to read the documents and make a ruling based on them. Without reading the documents, can't give a reasonable prediction of how things will end up.

[bean29]

It may be more like an Assisted Living Community. My Co-worker’s in-laws live in a place like that. I think they have the right to live in their unit for their lifetime. I don’t think they can re-sell it. They are in their 90’s. They have stores and restaurants on ground level. He says they don’t really go anywhere or do anything anymore. Their place is near Ft. Meyers. Pretty sure they don’t have a nursing home/assisted living on site, just older people all living in same condo/apartment community.

[Opti]

Jun 20, 2023 11:47:22 GMT -5 daisylu said:

That is one of the most confusing "articles" that I have ever read.

Are they owners or leasers? There was a reference that someone paid $130,000 to move to a unit there. This whole thing is very confusing.

I find it confusing as well. There are places in NYC that the land is owned by someone other than who owns the building on it. In fact I think this is true of at least one if not more Trump properties that may or may not still be in his portfolio.

What I do not understand is how Mr. Billionaire through his LLC can inspect the building on the property that is not owned by him. He would not have lease agreements with each unit owner usually, so in most cases him trying to evict them would be illegal. That said rich people do illegal things every day and many of them get away with doing most of them. I do hope further info is forthcoming on this. 

[Tiny]

That is confusing... how can you own your unit but still have a landlord and a lease??

Is it like a mobile home park?? Where you own your trailer but you rent your space from a landlord? If you can't pay your rent for the land your mobile home sits on - you might have to move (or sell?) your trailer and move somewhere else.

I don't know how that would work with a building with several floors of units. The people who own each unit - should "own" some % of the common areas (the roof, the basement, the pool area, the hall ways, etc... that's what HOA fees are suppose to pay for.

Florida is a little "lawless wild west"... I think that was the attraction for a lot of people to move there. It was ok to do whatever you wanted to do.

[raeoflyte]

Co-op's are popular in NY with that kind of set up with unit owners but the main building is jointly owned (as I understand it- Ive never done thise loans), but I don't think there'd be an outside owner in that set up.

Condos you own the unit but not the land it's on - even if your "unit" is a detached home, but there's no other owner of your unit.

[Opti]

Jun 20, 2023 21:55:41 GMT -5 Tiny said:

That is confusing... how can you own your unit but still have a landlord and a lease??

Is it like a mobile home park?? Where you own your trailer but you rent your space from a landlord? If you can't pay your rent for the land your mobile home sits on - you might have to move (or sell?) your trailer and move somewhere else.

I don't know how that would work with a building with several floors of units. The people who own each unit - should "own" some % of the common areas (the roof, the basement, the pool area, the hall ways, etc... that's what HOA fees are suppose to pay for.

Florida is a little "lawless wild west"... I think that was the attraction for a lot of people to move there. It was ok to do whatever you wanted to do.

I do not know. I know I looked into a home where you did not own the land, when you bought you were given a 99-year lease so basically you could not hand your home down for generations. There was some sort of association that you would be admitted to if you bought and they accepted you as a member. I remember in this instance I think there was a community center and a small pool.

This case, I am not sure. I know Trump built high rises in NYC where he did not own the land but got the OK and a long-term lease. How it worked exactly I am not sure. Maybe Swamp has an idea? If this guy owns the land but not the building, I am not sure what is happening exactly. I have a feeling though since DeSantis passed a law about HOAs in Florida being fully funded and remediating construction problems, the leasing company is concerned about future liability. Or the billionaire wants to use that law to get rid of this property and build something else.