They should have just condemned the building and walked away. No building of that size and age would have been worth such an exorbitant amount to repair.
Does the sister condo also need such repairs?
https://freerepublic.com/focus/chat/3971817/posts?page=1
From an email noted in this article
“ A few months later, a board member wrote to Prieto that workers next door were digging “too close to our property, and we have concerns regarding the structure of our building.”
Was there any finding of a sinkhole?
Don’t see many support beams in the exposed structure.
I lived in a coop in NYC - unlike a condo, we could take out debt against the building, and at very good rates. Naturally, the interest had to be included in the monthly payments, but it was not a big expense. I believe we carried about $15 million in debt on our 450-unit building.
I’ll bet all the condo owners in Florida will suddenly become much more willing to pay up.
Yep, Condo buyers beware.
I doubt the recommended repairs dealt with the major structural issues that caused the collapse. I’m electrical, not structural engineer, but have son who is structural and I have years dealing with structural issues.
If the structural defects that caused this collapse had been discovered, and not dealt with, the building would have been condemned.
Other engineers here - do you not agree?
The deterioration didn’t happen overnight.
Likely people have been looking away for years.
Who, for whom, and why?
Going to be real awkward if the Condo Association had a vote (by the condo owners) who turned the repairs down.