Miami partner Alexander Tachmes was quoted in an article titled “Florida Attys Expect Changes to Law After Condo Collapse,” published by Law360 Pulse.
After the June 24th Surfside condo collapse, many attorneys are discussing whether there will be changes in state and local laws and stricter enforcement. Alex states “the collapse may prompt municipalities to become stricter about inspections and less flexible about deadlines. There are situations where the 40-year recertification comes, and … maybe it takes them 41 or 42 years to get the work done to get that recertification,” Alex said. He believes municipalities will get stricter about that.
Alex also compares the differences in owner sophistication and liquidity for capital expenditures in hotels and office buildings vs. condominiums. All types of commercial buildings are subject to the 40 Year Recertification requirement but multifamily condos are usually at a disadvantage. “You flip over to residential condo side, and it’s almost a perfect storm of inherent problems,” Alex said.
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About Alexander I. Tachmes
Alexander I. Tachmes is a partner in the Miami office of Shutts & Bowen LLP, where he is Chair of the Land Use and Government Relations Practice Group and a member of the Real Estate Practice Group. Alex also is firm-wide Chair of Shutts & Bowen’s Covid-19 Response Team, which is comprised of lawyers from each major practice area affected by the pandemic, including real estate, tax, labor and employment, financial services and creditor’s rights. A Martindale-Hubbell AV® rated attorney, Alex concentrates his practice on governmental matters, including land use and zoning, public-private transactions, competitive bidding and lobbying, and commercial real estate transactions, including hospitality matters.