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$46 Million Condo Shock
Manage episode 355931740 series 2906071
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The Palm Bay Yacht Club stands 27 stories high at 780 NE 69th St., and real estate listings for its residences – with price tags between $338,000-$600,000 – boast of Biscayne Bay views, luxury amenities and an idyllic South Florida lifestyle. What’s not included in those effusive property descriptions is that current owners are being told they must agree to cough up more than $175,000 each to bring the building up to snuff to pass its 40-year recertification – repairs the condominium association says will cost $46 million...
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