Condo Terminations Expected to Rise as Developers Look to Older Buildings (FL)
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. Read the article…………..
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