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Condo Terminations Expected to Rise

MIAMI—South Florida's aging condominium stock, especially buildings sitting on oceanfront land, is ripe for glitzy redevelopment.

By Carla Vianna, Daily Business Review | Updated on January 05, 2017
Joe Hernandez of Weiss Serota Helfman Cole & Bierman. Joe Hernandez of Weiss Serota Helfman Cole & Bierman.

MIAMI—South Florida’s aging condominium stock, especially buildings sitting on oceanfront land, is ripe for glitzy redevelopment as developers push to expand a skyline where little to no prime, undeveloped land remains.

Real estate lawyers who specialize in condo terminations reported a busy 2016 season, despite the noted slowdown in the region’s luxury condo market. As undeveloped land becomes scarce, builders have turned to more creative measures: Redevelop aged buildings on underutilized sites, preferably near the water.

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