Miami, FL
Burst pipe at Miami Beach condo triggers more than flooding
MIAMI – Only one of four elevators is operational at the Burleigh House Condominium on Miami Beach after a pipe burst over the weekend, causing more than flooding on the third floor of the building.
“Of course, it was cascading the water to the elevators but now everything is dry, and everything is going to be back in order,” said Andrea Romagna, a board member of the Burleigh House. “The company of the elevators is working and now there’s one already working.”
“This was no surprise for me because it’s happened before,” said Michelle Salem, who owns a condo there.
She has been very vocal about what she considers the “questionable way” of how things are fixed at the building located on Collins Avenue and 71st Street.
“Let me show you a video from last year, January 3rd, 2023, virtually one year ago, it’s the same exact situation,” said Salem using her phone to show a seemingly image of a flooding from last year.
She claims the same problem has not been properly fixed by real professionals because the building’s board has been using internal personnel for maintenance.
“The company of the elevators is working, and now there’s one already working, a remediation company is taking care of putting the third floor where all the damage was done,” replied Romagna who considers that only a few unit owners complained.
Salem said her right to see the financial books when the problems occurred has been denied.
“We are experiencing very little transparency,” she said.
Salem pointed to a condo safety bill requires that condominium associations to have sufficient reserves to pay for major repairs and conduct a study of the reserves every decade. It would also require condominium associations to provide inspection reports to owners, and if structural repairs are needed, work must begin within a year of the report.
Salem said she has paid $87,000 in four different special assessments for her two-bedroom unit and $60,000 for a one-bedroom unit.
“These are very big numbers, and we don’t have real accountability where all the money has been spent,” said Salem.
Miami, FL
Miami-Dade condo owners plead for help after weeks-long elevator outrage impacting residents’ health
Condominium owners near Doral are appealing for help after their buildings have been without elevator service for weeks. They are speaking exclusively with CBS News Miami, sharing stories of hardship amid the area’s suffocating heat. Several owners, who are elderly and have disabilities, say they are struggling to climb the stairs.
This is not the first time the issue has plagued Parkwood Condominiums. Last July, CBS News Miami reported that one building in the complex had been without elevator service for more than a week.
Currently, service has been out at 9240 Fontainebleau Boulevard since May 14. The elevator at 9270 Fontainebleau Boulevard has been out of service since May 15, and the elevator at 9180 Fontainebleau Boulevard is also non-functional, though the duration there is unknown.
Ronald Bedenis, who has lived on the fifth floor of 9240 Fontainebleau Boulevard for 31 years, expressed worry for his wife and others.
“It’s terrible. People are having a really difficult time,” Bedenis said. “My wife cannot go out. I have an 80-year-old woman who cannot go down the stairs. Another neighbor is 104 years old, and she is in a wheelchair. How is she supposed to get down and buy food?”
His neighbor, 68-year-old Sandra Hanson, shared her struggle. “It is horrible. It is very bad because my husband is 80 years old and he cannot walk. He is very sick. He is stressed out,” Hanson said.
At 9270 Fontainebleau Boulevard, 77-year-old heart patient Luis Jorge said the outage is impacting his health.
“They put two catheters in my heart before, and I have another operation coming up,” Jorge said. “To go down is not a problem. But to go up is a problem. We called, and there is no one to talk to. I feel like I am in prison”.
His neighbor, Iris Hernandez, called the situation “frustrating”.
“It’s a big hardship, and I am in disbelief,” Hernandez said. “I feel like I am in a nightmare. I would like to see the elevator fixed”.
CBS News Miami contacted Atlas Property Management Services in Doral and received a statement from Joaquin Alvarez, the property manager.
Alvarez reported some progress at 9270 Fontainebleau Boulevard, where a damaged property edge was repaired, but they are waiting for a control card. At 9240 Fontainebleau Boulevard, Alvarez said the elevator had a damaged valve, and he expected a new one to be installed by the end of the week. He confirmed the Condominium Association had authorized repairs.
For 9180 Fontainebleau Boulevard, Alvarez said the problem involves a defective control board, which the elevator company is working with the manufacturer to resolve. He noted the issue has been ongoing “for a while” but did not provide a repair completion date for that building.
Miami, FL
Developers pay off $115M in Miami construction loans as condos near sellout
South Florida developers knocked out a combined $115 million in construction loans for Miami condo towers that are nearly sold out, as the demand for hospitality-branded residences heats up in the region.
North Development paid off a $70 million loan to Forman Capital and Core Capital for Domus Brickell Park, while Rosso Development and Midtown Development paid off a $45 million mortgage to Arkansas-based Bank OZK for The Standard Residences, Midtown Miami.
The projects have hit major milestones.
North’s 172-unit Domus Brickell Park recently opened and has posted 120 closings, while Rosso and Midtown’s 228-unit Standard Residences is nearing completion with only five units left to sell.
North Development, a partnership between Ricardo Dunin’s Oak Capital and Juan Carlos Tassara’s Edifica, paid off its loan in April for the building at 1611 Southwest Second Avenue.
The project offers a mix of studios, one-bedroom and two-bedroom units that are short-term rental friendly. Units were marketed from the $600,000s to $1.2 million.
Zyscovich Architects is the architect, and Urban Robot Associates is the interior design firm. Amenities include the Peacock Room, which Dunin previously described as an activated lobby with food and beverage concepts, a market, and co-working spaces for guests and the public that were inspired by the ACE hotel in New York.
The payoff comes as North pushes ahead with Domus Brickell Center, another short-term-rental-friendly condo tower nearby. The developer said that 35-story, 579-unit project at 1034 Southwest Second Avenue is more than 50 percent sold and ahead of schedule. Less than a year ago, the project secured $220 million in financing, consisting of $180 million in C-PACE funding from Coral Gables-based Bayview PACE and a $40 million mortgage from Core Capital.
A few miles north, Rosso Development and Midtown Development paid off a $45 million construction loan for The Standard Residences, Midtown Miami, the first standalone residential project from the lifestyle hospitality brand. Another Standard-branded residential tower is under development in Brickell by Newgard Development Group and Two Roads Development.
Designed by Arquitectonica, the 12-story Midtown project includes 228 residences and more than 34,000 square feet of amenities, featuring a rooftop pool, pickleball court, coworking spaces and several food-and-beverage offerings, including a Juvia Group restaurant on the rooftop.
Units range from 432 square feet to 965 square feet, and include studios to two-bedroom condos. Owners will be able to rent their units out for terms as short as one month. In October 2023, fewer than 35 units remained, priced between $500,000 to $1 million.
A JLL Capital Markets debt advisory team led by Brian Gaswirth and Jimmy Calvo arranged the financing in 2023. According to JLL, the loan was paid off ahead of schedule.
Bank OZK is one of South Florida’s most active condo construction lenders. The bank also provided PMG’s state record-setting $668 million construction loan for Waldorf Astoria Residences Miami, which is expected to become the tallest residential tower south of New York City.
Even as interest rates have gradually come down in recent years, the environment is still relatively high, and construction costs continue to climb.
Read more
Juvia to open rooftop restaurant at Standard Residences in Midtown
Development
South Florida
Standard Residences in Midtown Miami scores $45M construction loan
Residential
South Florida
Ricardo Dunin, Juan Carlos Tassara land $220M financing for Domus Brickell Center
Development
South Florida
Ricardo Dunin, Peruvian partner score $70M loan for Domus Brickell
Miami, FL
Family displaced after car crashes into southwest Miami-Dade home, leaving structure unlivable
A car crashed into a southwest Miami-Dade home Sunday evening, leaving the structure unlivable and displacing a family of five, authorities said.
The crash happened near the intersection of Monroe Street and Douglass Drive and involved two vehicles, according to the Miami-Dade Sheriff’s Office. Doorbell camera video captured the moment of impact and the chaotic aftermath as neighbors rushed to help.
Five family members were inside the home at the time of the crash, including an 84-year-old woman. No one inside the house was injured, but the damage to the home was extensive.
“I was frantic. I was scared,” said Ken Charles, a relative who rushed to the scene to check on his grandmother. “I had to jump up and head straight over here and see what’s really going on.”
A woman who lives in the home, who asked not to be identified by her full name, said she initially thought something far worse had happened.
“I didn’t know if it was a gunshot, if it was a bomb, if it was a police chase,” she said. “So I looked outside and saw the car smoking.”
Emergency crews transported three people involved in the crash to a hospital with injuries ranging from stable to critical, officials said. Doorbell video shows neighbors and occupants of the vehicles attempting to help the injured moments after the collision.
Residents in the neighborhood said speeding and drivers running stop signs are ongoing concerns in the area, though they said crashes this severe are uncommon.
“There is no reason for him to be going so fast,” the resident said.
The American Red Cross responded late Sunday evening to assist the displaced family with temporary housing. Charles said the family does not have insurance and is now facing major financial challenges.
“We really do need the help,” he said. “It’s very difficult, and it’s not easy. We don’t know how we are going to get by.”
Authorities have not released an update on the conditions of those injured or said whether any charges will be filed. The investigation remains ongoing.
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