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“I want you to go ahead with whatever needs to be done to monetize this property, so that we can put money in the hands of these people,†Justice Hanzman said.
Brad Sohn, a lawyer representing at least one survivor of the collapse, said condominium associations should be required to have much more coverage for something as devastating as a collapse.
“When catastrophic events occur in Florida, stricter laws must be put in place to force people to be financially responsible, to have larger insurance policies so that people are not left behind,” he said. Mr Sohn said.
Susana Alvarez, 62, who escaped the building collapse and currently lives in a rental, said she feared she would not be compensated for the $ 150,000 in renovations she made in its accommodation, including a new kitchen, floors and windows.
“It’s not about what I paid to own the apartment,†she said. “That’s about what it’s worth now. “
Mr. Rosenthal has a similar concern. When he first bought his 1,560 square foot unit in 2001, hoping to spend the rest of his life there, he paid $ 250,000 for it; the revaluation of the unit two years ago put its value at $ 650,000.
He would at least like to be able to pay off his mortgage and, with that in mind, he joined in one of the many lawsuits against the building’s condominium association. Survivors, he said, will look far beyond the building’s limited insurance policy, “suing anyone involved.”
Rick rojas, Mike baker and Sophie Kasakové contributed reports.
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