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Barbara Schmal, who has been a real estate agent for three decades, told ABC Action News she’s never seen the Florida condo market experience such a low. Schmal adds this crisis is hitting folks ...
Across Florida, aging condo buildings are facing rising expenses and millions of dollars in structural repairs to comply with new regulations following the collapse of the Champlain Towers ...
In March 2014, the firm acquired a stake in the A.S. Roma football club, [23] and in October 2014, Starwood purchased 7 upscale malls in Virginia, Florida, North Carolina, Texas, and Michigan from Taubman Centers in a $1.4 billion transaction. [24] In 2016, the company acquired 23,262 apartments from Equity Residential for $5.365 billion. [25]
A condo hotel, also known as a condotel, hotel condo, or a contel, is a building that is legally a condominium but operated as a hotel, offering short-term rentals, and which maintains a front desk. Condo hotels are typically high-rise buildings developed and operated as luxury hotels, usually in major cities and resorts. [ 1 ]
Membership in a condo is obtained by buying the shares on the open market, most often through a real estate agent. No board approval is needed to buy shares, but in some cases other stockholders or the housing cooperative itself has the right to claim the stocks being sold. There is usually no requirement for the owner(s) to live in the condo.
The WSJ reported condo inventory for sale in South Florida has more than doubled since the first quarter of 2023, to more than 18,000 units today, due to either rising insurance costs or repair ...
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