Published by Peter Zalewski
9/15/2024 
12:47:40 AM 
Andy “Daro” Rotondaro, a Realtor® and North Bay Village Commissioner, discussed his situation regarding special assessments for two condos that he owns in the leadup to Florida’s 2025 Condo Association Financial Cliff.
What would you do if your South Florida condo association charged a $25,000 average special assessment and gave you 12 months to pay – or face foreclosure?
On top of that, what if your condo community is concurrently undergoing a Structural Integrity Reserve Study (SIRS) that could result in additional assessments in 2025 due to the new Florida Condo Law?
Andy “Daro” Rotondaro, a Realtor® with The Daro Team at Compass real estate and a North Bay Village Commissioner, is facing just this scenario with two of his units in a vintage condo tower built in 1969.
Condo Market Inventory Tracker
A Snapshot Of South Florida Vintage Condos
| Databases | Active Listings | Months Of Supply |
|---|---|---|
| Condos | 15,388 | 8.2 |
| Luxury Condos | 985 | 9.1 |
| Shortsales | 19 | 12.1 |
| REOs | 98 | 5.8 |
| Rentals | 12,874 | 3.7 |
Peter Zalewski is a licensed real estate broker and consultant focused on the South Florida condo market. Zalewski is a former special contributor to the Miami Herald and a former real estate columnist for The Real Deal magazine. Zalewski now hosts the Miami Real Estate Investing Podcast that is available in audio and video wherever you get your podcasts.
Confused about whether it is the appropriate time to buy or sell a condo in South Florida? The experts at CVR Realty are here to assist you in crafting a strategy during this uncertain time. Unlike many brokers offering services, our organization has been through the cycles and can assist you to capitalize on the situation.
For a free consultation, please contact the South Florida Condo Experts
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