The condo tower collapse in Surfside could exacerbate the division that already exists between the tiny Florida town’s new luxury buildings built for the global elite and those constructed decades ago for the middle class.
Tropical Storm Elsa drenched Key West, Florida, Tuesday morning and may strengthen during the day as it nears Tampa Bay. Rescuers in Miami are still searching for Surfside victims in rain and wind.SURFSIDE, Fla. -- The condo tower collapse in Surfside could exacerbate the division that already exists between the tinytown’s new luxury buildings built for the global elite and those constructed decades ago for the middle class. It is already creating headaches for some small businesses.
Bosovic said many buyers will now avoid older buildings, not just because they fear they might also fall but because of repair costs the Champlain South owners faced before the collapse: $80,000 to $300,000 per unit. These factors will decrease older condos’ value, while prices in luxury buildings will continue to skyrocket.
The town is known for its clean beaches and a 12-story limit on its buildings, and stands in contrast with neighboring Miami Beach and its world-famous nightlife, Bal Harbour with its high-end shopping and both with buildings that are double and triple the height of Surfside's tallest. Ryan Mermer moved to Surfside earlier this year from Palm Beach County, drawn by the quiet, the town's proximity to Miami's thriving business climate and its large Orthodox Jewish community. On Saturdays, much of the town closes for the Sabbath except for the chain stores. Surfside was home to Isaac Bashevis Singer, a Yiddish poet and short-story writer who won the 1978 Nobel Prize in Literature.
In Surfside's low-key shopping district one recent afternoon, barber Aramis Armor and Freddy Elias, the co-owner of a tailor and dry cleaning shop, had no customers. The pandemic hit their businesses hard, both said, and the collapse and the resulting street closures made it difficult for anyone to reach them.