MIAMI – New regulations for Florida condominium owners have gone into effect, requiring condo associations to maintain reserve funds specifically for structural repairs and maintenance.
At 1060 Brickell, residents face a $21 million assessment fee as a result of the new rules, with 25% of the fee due this past Wednesday.
Condo owner Evan Cohn must pay $45,000 to cover his share of the assessment.
“I mean, this is still a relatively new building. This isn’t an old, dilapidated structure,” Cohn said.
The condo association sent out an itemized list showing what repairs needed to be made. Some of those include:
He explained that, according to an engineering report from a structural integrity reserve study, the repairs are not immediately critical.
The condo association’s lawyer, Marc Haltern, declined to comment but previously told CBS Miami in November that the assessment was a legal necessity.