Some small businesses are already facing headaches from this.
In recent years, the town has seen a number of new condos built. Large oceanfront units measuring over 3,000 sq.ft (280 sq.m) can be purchased for $10 million or more with modern amenities. For $400,000. You can also find small units in condo buildings nearby, measuring 800 square feet (75 sqm).
Ana Bosovic is a South Florida real-estate analyst who said that the June 24th collapse of the 40 year-old, middle-class Champlain Towers South would exacerbate the division. At least 36 were killed , and more than 100 are still missing.
Bosovic stated that many buyers will avoid older buildings not because they are afraid they might fall, but because of the repair costs Champlain South owners had to face before the collapse, which ranged from $80,000 to $300,000. These factors will reduce the value of older condos, while luxury buildings will continue their rise in price.
“The capital holders who are moving to Miami didn’t consider older buildings. Analytics Miami founder Bosovic said that they are now buying preconstruction and newer structures. “This will further depress the sales of older structures, and further split the market.”
Surfside was home to about 6,000 people on an island off Miami. It was the most isolated municipality in South Florida before the tragedy at Champlain Towers South. Jared Kushner and Ivanka Trump rented luxury condos in a new building just two blocks away from the collapse.
It is well-known for its clean beaches and 12-story building limit. This contrasts with Miami Beach, which has world-famous nightlife and Bal Harbour, which boasts high-end shopping and buildings twice as tall as Surfside’s.
Charles Burkett, Mayor of the Town, stated that the community has been through a “rollercoaster” in emotions since the collapse. The community’s current turmoil has been intensified by Tropical Storm Elsa and demolition of the remaining structure. This storm brought heavy rains and strong winds to the region.
He said, “We have faced many challenges. But the good news is that the resources we do have are all aligned and all focused on the same goal.”
Ryan Mermer, a Palm Beach County native, moved to Surfside in the spring of this year. He was attracted by the peace and proximity to Miami’s vibrant business environment. The town is closed on Saturdays except for chain stores. Isaac Bashevis Singer was born in Surfside and won the 1978 Nobel Prize in Literature. He was a Yiddish poet, short-story writer, and poet.
Mermer also secured a deal for a small apartment that was built half-century ago. It is located just steps from the condo where former President Donald Trump’s son-in-law and daughter moved in. Mermer’s building was built for the middle class. Today’s construction is designed for the elite of New York, Europe, and South America. They are attracted by the state’s lifestyle and weather, as well as the lack of income tax.
Mermer, a realty agent, said that she pays $1,375 per month… right across the street from the beach, while Jared and Ivanka pay $38,000.” Mermer also works as a support group for Holocaust Heroes Worldwide, which supports survivors of the Nazi death camps.
Surfside’s low-key shopping area was home to barber Aramis Armor, and Freddy Elias. Freddy Elias is the co-owner and tailor of a dry cleaning and tailor shop. Both said that the pandemic had severely affected their businesses and that it was difficult to reach them due to the street closures and collapse.
Amor said that the downtown is filled with families in normal times. They can get ice cream, pizza, or coffee from the many local businesses.
Armor stated, “They all are very nice, and the clients are very excellent.” Armor blamed the city officials for his inability to do business. He said they shouldn’t have allowed the building to fall like it did.
Elias, who owns Surfside businesses for 25+ years, hopes that a federal low interest loan offered by President Joe Biden to affected stores will provide him with enough funds until his customers return. A partner went to the home of a client for a fitting, rather than making the client wait in traffic to reach the store.
Elias stated, “Since COVID, and now this tragedy…it has been very, very difficult for us.” We need your help.”
This week, the streets were reopened.
