Tiny
Senior Associate
Joined: Dec 29, 2010 21:22:34 GMT -5
Posts: 13,364 
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Post by Tiny on Aug 31, 2021 20:15:45 GMT -5
Looks like the site of the collapsed condo tower Champlain towers South is up for sale via auction... June 24th to August 31st... that's 68 days. Damn. that was fast. www.msn.com/en-us/money/realestate/site-of-champlain-towers-south-collapse-officially-hits-market-in-south-florida/ar-AANW74K?li=BBnbfcL“Outside of the tragedy that has happened and the loss of life, this is a unique site,” he said. “You don’t have a property of this size on the ocean in Miami Beach, Surfside or surrounding municipalities. We know that there are groups that are looking at all possibilities and options to build whether it’s condominiums, hotels or a combination thereof.” I guess it doesn't take long for the memory of the tragedy to leave people's minds. It just feels too soon. |
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Tennesseer
Member Emeritus
Joined: Dec 20, 2010 21:58:42 GMT -5
Posts: 63,417 
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Post by Tennesseer on Aug 31, 2021 20:31:00 GMT -5
I wouldn't live on the property. Turn it into a memorial park.
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justme
Senior Associate
Joined: Feb 10, 2012 13:12:47 GMT -5
Posts: 14,618
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Post by justme on Aug 31, 2021 20:33:40 GMT -5
It is soon, but you also likely have a lot of owners that are having to pay the mortgage on a place that isn't there. And on a some place to live. Insurance would pay them something, but condo insurance is only for interior stuff. My max payout is only like a third of my mortgage. And I'm not in a place where the land is likely worth a lot more than the building.
The HOA insurance will likely take forever. And probably isn't enough to make everyone whole either especially considering the death claims.
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