I wonder if any of the apartments were STR.
From what I am seeing on the news in Australia, the building looks like it is in a prime spot.
Great demonstration of why you need to know how many are in your listing.
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Good point indeed.
The apartments, being oceanfront, were valued at over $1million. The loss of life is now estimated to be in the hundreds.
This is just my weird opinion right now but I suspect that waterfront properties are going to lose their value.
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Some will be underwater properties soon enough. The glaciers are melting faster than expected.
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In reading a little about this huge tragedy, these huge buildings were built on barrier islands where the ground is shifting incrementally. I read one woman sued the association a couple of times because of major cracks in her walls that were considered structural.
I’ll bet more was known about this and was not made transparent, fingers crossed, hoping for the best.
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Already hitting Charleston & Georgetown SC. A few years ago Million plus dollar historic homes started having next to no value because of 30 year projected water rise. Meaning these properties would be subject to probable flooding during hurricanes & king tides (seasonal equinox related high tides)
(Btw million dollar properties in SC are very different from million dollar properties in CA—SC property values low compared to many other areas)
Tragedy…grateful FEMA now involved because it gives Florida more resources to do search & rescue & help the survivors who’ve lost everything
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I would think so…even if only seasonally.
I’m renting an Airbnb penthouse only about 20 minutes away from this building similar to the setup. Even thought I will lose 50 percent, I’m considering cancelling.
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I understand your concern. I have worked & stayed in many high rise buildings. I’ve never liked it.
It appears this was not due to something sudden & affecting a large area like an earthquake so unlikely other buildings are as unstable.
Sadly, this was a predictable event. (Awful) The HOA, property management, & city inspectors failed and people died. (No words can describe…)
A 2018 inspection indicated structural problems
https://www.miamiherald.com/news/local/community/miami-dade/miami-beach/article252385083.html
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Probably will be closer to 10-15 years. The models are being proven wrong, it’s happening faster than expected.
This could be malfeasance by condo board. That will ultimately make it tougher for all condo associations.
My state requires registration of all guests. However, the registration card is my home so if there were a disaster the names would go with it. I have taken to getting the extra names online even if it’s after the reservation. Then I could access them from my phone or another person’s computer. Given my old Victorian I am more concerned about fire. Fortunately I have a super sensitive, very loud alarm to help with that.