Gutman Development Marketing, Phil Gutman, Ian Bruce Inchiner of Continum Company and CEO of BH Group, Isaac Toledano Fox News Digital, explains why they support Florida’s ‘Condo 3.0’ bill.
The owners of high -growing condomineum along the sun and serene florida coast are facing an expensive reality, But major developers To prevent the future tragedy in the state, it is necessary to increase HAA fees and maintenance reserves.
Phil Gutman, president of the Gutman Development Marketing, told Fox News Digital, “Many people have doubled their maintenance. They have noticed that some assessments have become extremely ineffective. It certainly affects many residents in Florida.”
“There is a conflict, and the conflict is a bit complex, and it’s a little complex because you have three competitive issues. One, you have a security issue. Two, you have old buildings,” Ian Bruce Ichner, the founder of the Constinum Company, also told Digital. “The last issue that comes from (condo 3.0 law), a requirement that the original offering of 50 years ago, said that 50 years ago the original offering of 50 years ago, you need 90% of residents so that you can agree to eliminate condominium.”
“We have state, city, city officials, code enforcement, city managers who are more involved in buildings.
Is Elon Musk warm until a South Florida move? Real estate internal sources say ’causes are endless’
“I think you have more inspection, more rules, I think it is good for everyone and for everyone’s safety.”
Three major Florida Real Estate Developers Voice Support for Condo 3.0 Bill of the state, even if it is a result of high HAA and maintenance fees for unit owners. (Getty image)
The high condo fee is a result of the state’s “Condo 3.0” bill, which was passed by Florida Gove Ron Desantis in early 2024, less than three years later Champlain towers collapse in surfsideThe new bill determines a new set of reforms, including how a building is maintained on how to control condo associations. The oldest buildings and their inhabitants are likely to see the most expensive adjacent assessment.
“Any rational person has to support the law as it goes to the issue of security. So when it can have a financial burden, we have a liability – the state, city, everyone has a responsibility to protect people,” Ichner said. “So there is no question that the law is something that unfortunately, an incident was a result, but of course it is something that everyone supports.”
As Recent data from redfinIn many Florida cities on the coasts of East and West, there is an increase in double digits on the Kondo fees. Tampa saw the fastest growth at 16.7%, Fort Lauderdel had an increase of 16.2%; The average average Kondo cost in Miami is $ 835 per month; And Key West has the highest mean HA fee at $ 1,063.
The Fox Business’ Ashley Webster Fort Lauderdel reports from Florida, where condominium and HOA fees are increasing and thus removing new inhabitants.
In some high-ral markets such as Miami, unit owners in the 16-year-old 1060 Brickel Avenue Building require to divide $ 21 million in special assessment, as the areas of damage are identified by the board of directors.
According to developers, many Kondo buildings that are 40 to 60 years old are likely to demolish and reconstruct new, luxury real estate projects.
“I think we are going to see more and more of this transaction of Prime Real Estate, the old product is being replaced with a new product,” said toledano.
“The changes we see in the market are the hungry of old products, old units, many other owners, who are willing to work with developers, and they understand that if you live in a three-storey building built in the 1960s, this building will probably have some serious assessments, and sometimes it is nothing to repeat, which reiterates the roof, (you) (you) (you) (you) (you) (you) (you) (you) (you) (you) (you) (you) (you) (you) (you reiterate the roof) Sells (two) sell units. “
Florida’s dub “Condo 3.0” bill requires annual maintenance and reserved evaluation for buildings that are three stories or higher. istock
Gutman said, “Some of these buildings are 50, 60 years old that cannot actually be decided now. Those buildings need to come down.” “If someone has an apartment, priced at $ 300,000 in the open market, and we come in $ 750 (from) $ 800,000, I believe that they are in a much better position than being quite honest with you.
While the MPs of the state argues that the Condo 3.0 law will improve the longevity and quality of high-growing buildings, it is feared that luxury mixed-utilization developers strip the inhabitants to decide the powers of deciding the inhabitants, add expensive fees and put them out of their long-term houses-for a particular manner-for a particularly for Retired or fixed income Owner.
The office of the village Dentis did not respond to the request of Fox News Digital’s remarks.
Eichner gave an example: “You have a building that is 62 years old, deferred maintenance is $ 12 million, the building has a population of 20 or 25% that retirees, and that 20 or 25% do not want to move either do not move, do not have resources to move, need to move.”
Madison Ventures+ Managing Partner Mich Roschel reacted to the latest incidents in the correction mode in the alleged gang-controlled apartment complex in Colorado and Florida’s Condo Market.
“So what you are building after facing the assessment is not really. They do not have a will, ie 90% may require a termination, and so they now sit in this ‘sometimes any land’, in which they try to make some partial evaluation, the deferred evaluation. Where is it going?” “But of course, there are hundreds of buildings that are in this position because we exit a year of the need for later evaluation. I suspect that it’s going to be a real issue in 2025, 2026.”
In February, new leaders in the Florida Legislature said that their next sessions would include possible changes in condo laws, but would not include negotiations around direct financial assistance to Kondo owners.
Three developers insisted that they are here to help those concerned residents.
“I think finally, developer or not, we are all humans.
Get Fox Business when you click here
Mickey Nftali, president and CEO of Nftali Group, discussed the insurance cost as Hurricane Helen makes his way for the Gulf Coast on ‘The Claman Countdown’.
“We do not go to try to handle buildings and do not like a hostile environment. When we reach a building, we move it forward and we move forward because everyone in the building wants to sell. And they don’t want to assess, they don’t want them to do not want the maintenance fee,” Gutman said. “This is just our approach. We are trying to help.”
“A part of the proposal we created to the extent you are interested in will help you move you. To the extent that you are not sure where you want to go, we would advise some brokers to work with you,” Ichner said. “So this is an attempt to have a more overall, full-service approach rather than just saying: we are offering you ‘X’ million dollars for your apartment, and that, thanks, thanks, goodbye.”
