South Florida Condo Owners Enraged By $56 Million Special Assessment

This is a daily micropodcast about the South Florida real estate market by expert Peter Zalewski of the Miami Condo Investing Club™.

In this episode of the Miami Condo Minute™ micropodcast, host Peter Zalewski – founder of the Miami Condo Investing Club™ – discusses a hefty $56 million assessment levied on the owners in a 567-unit condo association in Hollywood Beach.

Units owner in The Summit condo project – comprised of a pair of 25-story towers built in 1982 – in Southeast Broward County are each facing nearly $99,000 in special assessments, according to a NBC 6 Miami report .

On top of the special assessment, unit owners in the condo project are also required to continue to pay their existing maintenance fees that are north of $0.80 per square foot monthly.

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This information is provided for general informational purposes only, based on research, personal experience and interviews. It should not be considered legal advice, as we are not attorneys. While believed to be accurate and complete, this information is provided “as is” without warranty or guarantee of any kind.

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