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780 NE 69 St Miami, FL 33138

Palm Bay Yacht Club

27 Floors - Biscayne Bay And Miami Skyline Views

• Total units 235
• For sale 14

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March 19th, 2024 - Welcome to Palm Bay Yacht Club

Building description.

Located directly on Biscayne Bay in North Miami, Palm Bay Yacht Club is an exclusive 27 story building hosting 235 units. The building showcases breathtaking views of Biscayne Bay and Miami Beach. Palm Bay Yacht Club offers various floor plans with one or two bedrooms. Many units have been upgraded with stainless steel appliances, new flooring, granite countertops, and luxurious bathrooms. Residents have access to an array of amenities including pool, fitness center, sauna, four tennis courts, lobby bar, convenience store, and a playroom. Located in a prime location, Palm Bay Yacht Club is just minutes from downtown Miami, Brickell, Miami Design District, Wynwood, entertainment, restaurants, and shopping. Palm Bay Yacht Club offers waterfront luxury at an affordable price.

Year Built 1982

Building amenities.

• Fitness Center
• Tennis Courts
• Convenience Store
• 24-Hour Security

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Unit Inventory & Sales History

3 units with 1 bedrooms for sale at palm bay yacht club, 11 units with 2 bedrooms for sale at palm bay yacht club, 4 units with 1 bedrooms for rent at palm bay yacht club, 5 units with 2 bedrooms for rent at palm bay yacht club, 28 units with 1 bedrooms just sold at palm bay yacht club, 237 units with 2 bedrooms just sold at palm bay yacht club, 1 units with 4 bedrooms just sold at palm bay yacht club, palm bay yacht club total units: 235.

NEIGHBORHOOD North Miami

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Reviews for Palm Bay Yacht Club

The palm bay club.

I live in the green building, not to be mistaken for the brown building which is in the same complex. We bought our apartment in 1992 and it is the best thing we ever did.<br/><br/>If you were looking to rent or preferably buy an apartment in this building now, there is a lot I could tell you. We have lived through several down and upswings in the market and seen a great many managers come and go. Even considering this volatility Palm Bay is a very good building. Once you have paid your maintenance, which compared to other bldgs in the area is fairly low, there is nothing else to pay for. <br/><br/>The pool is wonderful, the tennis courts are never filled, the exercise room is 1st class, there is a room especially devoted to little children, a library, a convenience shop, parking and free cable is considered part of maintenance and most important the staff could not be more friiendly and helpful. The views from almost any apartment are spectacular especially those facing south.<br/><br/>There are people here of all ages. A few over the age of 65, the vast majority are middle aged and work during the week. And, there are a few children. I love the place.

PALM BAY YACHT CLUB

Hola por favor me podria enviar informacion acerca de este apartamento de dos habitaciones en este sitio,pues tengo un hijo interesado gracias mil de antemano.<br/><br/>MARCELA CALLE

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(Milena Malaver for Biscayne Times)

$46 Million Condo Shock

Eerie reminder of Champlain Towers

by Milena Malaver , Biscayne Times Contributor

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.

Palm Bay Yacht Club

The Champlain Towers South Condo Association approved a $15 million assessment in April 2021 to complete repairs in preparation for its 40-year recertification process. The oceanfront 12-story building in Surfside collapsed weeks later on June 24, killing 98 people.

And, just as the Champlain Towers residents were shocked to receive assessments ranging from $80,190 to $336,135 for those proposed repairs prior to that tragedy, many owners at Palm Bay Yacht Club are similarly shaken, saying they can’t afford to pay, either.

Fear, anger, disbelief and despair are words condo owner of 13 years, Sonia Przulji, used to describe her initial reaction to the $46 million dollar loan her condo association wants owners to take on. Przulji is an ICU nurse and the sole provider of her household.

Sonia Przulji, Palm Bay Towers Resident

“My entire life and livelihood are on the line,” said Przulji. “If we cannot make this assessment then I lose my home.”

Przulji is far from alone in her sentiments. Ten dissenting owners filed a lawsuit in circuit court last October against the association, its board of directors, the property manager and others citing “questionable financial decisions.” Unspecified damages are sought. Among accusations of fraud and negligence, the plaintiffs claim the association wasted funds by focusing on superficial and nonessential upgrades to the building.

“Sometimes, when you have unscrupulous people in leadership roles, there will be problems like election tampering, ill-advised spending or outright theft,’’ said attorney Jane Muir, the Coral Gables lawyer representing the plaintiffs. “Our clients believe that Palm Bay Yacht Club’s leadership, including the board and the management company, have made serious misstatements of fact that rise to the level of fraud in an effort to persuade the association members to borrow $46 million.”

“We are fighting against this unjust assessment that many of our neighbors cannot afford to pay,” said Cristian Murray, a plaintiff and condo owner since 2017. “They will be homeless.”

Condo owners Randall Ames, Anais Benedetti, Cristian Murray, Simone Diament, Robert Tinianov, and Genie Anderson (L-R).

Sydney Harnett, age 84, has lived in the Palm Bay Yacht Club for 30 years and says she never dreamt of something like this happening.

“I would be forced out of my apartment,” said Harnett. “My home, where I’ve lived for a very long time. There are a few people who live here who have a lot of money, (but) the vast majority work for a living and do not have a lot of money. And if [the defendants] want an empty building, that’s what they’re going to get.”

But the condo association says residents can’t afford to not pay the assessment. Jonathan Goldstein, a lawyer for the association, declined to be interviewed for this story but emailed a statement on behalf of his clients.

Residents of the Palm Bay Yacht Club allege in their lawsuit that shoring was installed in the condominiums garage without proper permits. This image is cited as exhibit E.

“The Association vigorously disputes the lawsuit, which in the Association’s opinion is an attempt to disrupt the Association’s reasonable efforts to protect the building and comply with 40-year recertification requirements,” he wrote. “The safety of all members and compliance with recertification requirements are the Association’s foremost concern and responsibility at this point. In pursuing this project, the Association relies on the professional judgment of its qualified professional experts and project management team.”

What Does $46 Million Cover?

So exactly what would the $46 million loan pay for? It’s hard to say because neither side in the dispute would share an itemized list of needed repairs that add up to that hefty figure.

While repeated requests from the Times went unanswered, a copy of the plaintiffs’ complaint filed with the court and plans for proposed remodeling and structural repairs submitted to the city of Miami reveal that extensive prior repairs and enhancements to the Palm Bay Yacht Club were made without permits, resulting in numerous citations for city code violations.

The complaint, filed in Miami-Dade Circuit Court, lists unpermitted electrical, plumbing, HVAC and other construction work throughout the condominium building, including the gym, spa, pool deck, on-site restaurant and other amenities, such as the parking garage. D&R Contracting Corp. is cited in the lawsuit as having performed at least some of the unpermitted work.

(Courtesy of Simone Diament)

The tennis court at Palm Bay Towers is closed; it’s now being used as a parking lot.

Plans submitted to the city show diagrams of all such work that will have to be torn out and completed anew, with proper permitting. Presumably, this is a significant portion of the estimated $46 million.

The plaintiffs also accuse their condo association of misappropriating $4 million from an insurance claim for damages suffered during Hurricane Irma in 2017. Instead, according to the legal complaint, “defendants required unit owners to pay a special assessment to make the repairs and retained the insurance proceeds.”

All the while, dissenting owners and plaintiffs have been stewing.

“They’ve tried very, very hard to sort of force the unit owners into agreeing to this $46 million loan,” said Genie Anderson, a plaintiff and condo owner since 2015. “And how have they done that? They’ve taken away all our amenities, and a year ago, they shut down the pool. They shut down the jacuzzi, they took away our parking downstairs.”

The closed pool at Palm Bay Yacht Club

The tennis court and the pool are still prominently featured on MiamiCondoLifestyle.com, but neither is currently open. A visit to the property revealed parked cars on the tennis court and the pool surrounded by a fence.

The plaintiffs are holding out against the loan until the defendants agree to allow another property management team to conduct an assessment, one they trust to be qualified.

Mistrust of Management

In 2020, the board of directors hired a new property management company, AKAM Living Services Inc. According to the lawsuit, that was done “without ratification by the unit owners.” The lawsuit also alleges that neither the company nor Douglas Weinstein, vice president of operations for the company, have a required real estate broker’s license and are therefore unqualified to serve as property managers.

Photos of citations for unpermitted work on condominium doors were presented as evidence in the lawsuit against the Palm Bay Yacht Club condo association.

“We know that we need to have an assessment in order to have the recertification,” Murray said. “None of the owners have any problems with that. It is the law. Our problem is that these assessments have been exaggerated.”

Suspicious of the costs they are being asked to pay and of the qualifications of those who completed the association’s assessment, dissenting residents hired Tamara Reyes, a former Miami-Dade police officer, to investigate.

Reyes founded a company called South Florida Property Owners Consulting to look into corruption among real estate and building associations. Her investigation concluded that the original assessment exaggerated the cost of repairs and damages by more than $11 million. The lawsuit blames Epic Forensics & Engineering Inc. for that, saying the company “exaggerated the damage and structural deficiencies of the Association’s property.”

The association also stands accused of inappropriate spending.

“Reyes found over $100,000 in personal expenditures by [the association’s] staff like Amazon, going out to dinner at restaurants in New York and gifts,” said Muir. “There is no explanation for that other than improper spending.”

Even if residents prove they are being overcharged by $11 million, that still leaves them $35 million in the hole, which is more than double what Champlain Towers South residents would have had to pay.

Safety First

To be clear, neither the complaint nor the repair plans allege that the residential structure of Palm Bay Yacht Club is in any danger of collapse. In fact, pages 2 and 3 of the building plans clearly state that: “The building is structurally safe for present occupancy and will remain safe while repairs are being made.”

Nearly a year after the Champlain Towers tragedy, Florida Senate Bill 4-D passed to address safety concerns for condominiums and cooperative buildings. Coastal condominiums and buildings three stories or higher built between 1982 and 1997 must now undergo recertification by the end of 2024 and then every 10 years afterward.

For coastal condominiums that were built after 1998, the recertification must be done once the buildings turn 25, followed by inspections every 10 years. All other buildings must complete recertification 30 years after initial occupancy and every 10 years afterward. Buildings like the Palm Bay Yacht Club, built before 1982 that have begun the recertification process, will continue to follow that schedule.

The new legislation also eliminates the option for association members to waive and/or redirect certain reserve funds set aside for building components deemed critical to structural soundness and safety.

An unintended consequence of the legislation are scenarios like the one at Palm Bay Yacht Club, where there is little to no return in value for significant capital investment on structural soundness and safety. Under those circumstances, owners are likely to sell out to redevelopers.

At least two hearings have been postponed since residents filed their suit. The next scheduled hearing before Miami-District Court Judge Thomas J. Rebull is set for Feb. 13.

In the meantime, residents in this luxury high-rise say they aren’t giving up.

“We are willing to fight this until the end,” said Przulji. “I want to stay at Palm Bay. I have no plans on going anywhere else, I never thought that I would live anywhere else.”

This report was a collaboration between the Biscayne Times and FIU’s South Florida Media Network.

Palm Bay Yacht Club Residents' Lawsuit

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Other luxury condos in miami, fl, community info.

• Palm Bay Towers
• Address: 720 69th St., Miami, Florida , 33157
• Year Built: 1972
• Total Units: 20
• Price Range: $189,900 - $1,099,000
• Rental Price Range: $2,200 - $13,250
• Min price per Square Foot: $20
• Max price per Square Foot: $3,630

BY THE NUMBERS

• Complex Name Palm Bay Towers
• Total Units In Building 73
• Average Listing Price $644,450
• Average Rental Price $7,725
• Average Sold Price $875,500
• Average Price per Square Foot $1,825

Miami Condo Residents Upset Over 40-Year Recertification Cost

Neighbors at the palm bay yacht club are looking at a monthly increase of up to $5,000, by jamie guirola • published february 8, 2023 • updated on february 9, 2023 at 5:19 am.

Residents at a Miami condominium are upset over their building's 40-year recertification and what they say they will have to pay.

There will be a vote soon on whether to approve a plan that could cost residents at Palm Bay Yacht Club Condominium an extra $200,000 in homeowners association fees.

"We have a lot of issues, many but the main issue is about the money," said homeowner Borja de la Pazza.

Palm Bay is in its 40-year recertification process.

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"Which is gonna bring many people into foreclosure, and this is really, really sad for this community," de la Pazza said.

Homeowners are upset about what they call an excessive assessment by the board of directors and management company. The recertification would include installing hurricane impact windows, the demolition of some areas, remodeling and overall general improvements.

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The bill is a $200,000 lump sum, or to pay over 20 years an additional $1,300 a month for recertification and pay an extra $3,500 per month for impact windows.

Aline Tom just moved here less than a year ago. Residents like Tom who are against the plan said they found an estimate that’s about half of what's being proposed, which could make the difference in who stays and who leaves.

"Select residents of Palm Bay Yacht Club have made a series of false and misleading statements in regards to proposed plans addressing the recertification program," a statement from the attorney of AKRAM Property Management read in part. "We look forward to clarifying the misinformation and resolving the ongoing litigation."

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• Palm Bay Yacht Club

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Bayfront Miami condo tower embroiled in legal battle over major assessment

10 unit owners are suing the association and property management firm

• Katherine Kallergis

A bayfront Miami condominium in need of repairs is in a legal fight pitting unit owners against the condo association.

The 27-story, 235-unit Palm Bay Yacht Club made headlines last week over a proposed $46 million special assessment to fund repairs required for the property’s 40-year recertification. A group of 10 unit owners filed a lawsuit in October against the Palm Bay Yacht Club Condo Association, affiliates of the property management firm AKAM and other companies, alleging fraud and negligence.

The tower at 780 Northeast 69th Street was constructed in 1982 on a waterfront lot that includes a pool, sports courts and a parking lot.

In the lawsuit, unit owners allege that AKAM and the association knowingly made false statements about the scope of the project by including additional repairs beyond those required by the 40-year recertification, said attorney Jane Muir, who represents the 10 unit owners. The lawsuit alleges each unit owner would owe more than $175,000 for the repairs. It claims that AKAM is double-dipping and inflating the cost of the project, which AKAM denies.

An amended complaint, filed in Miami-Dade Circuit Court in December, alleges that engineers hired by the plaintiffs found errors that had a combined cost of more than $11 million. It claims that the defendants “mismanaged, misappropriated, or facilitated the misappropriation of association funds.”

“Absent court intervention, defendants will encumber the residents with insurmountable debt, risking foreclosure and bankruptcy for many individual residents and for the association,” the lawsuit states.

Unit owners are seeking an injunction against the association, with the goal of having a receiver appointed to take over the association, according to Muir. An evidentiary hearing that began on Monday was postponed to later this week, said representatives for both sides.

“No matter what these 10 unit owners think, the work has to be done. It’s only limited as to what can or cannot be done,” said attorney Jonathan Bloom of Bloom & Freeling, who represents AKAM. “Don’t people want to go to bed safe?”

The dispute is also playing out in the court of public opinion, with the unit owners appearing on local TV news fighting the size of the assessment and how money allegedly has been handled.

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Increased scrutiny of the physical conditions of condo buildings in the 20 months since the deadly Surfside condo collapse has led many associations across South Florida to impose multimillion-dollar special assessments or increase homeowners association fees to pay for life and safety repairs. 

Palm Bay Yacht Club’s association estimated that the recertification — which is required by law in Miami-Dade County — will cost about $33 million, and that the cost to replace the windows and doors with storm impact windows and doors is $15.7 million. The building has received unsafe structure violations from the city of Miami.

Amid the legal battle, the board voted on Saturday to approve a loan to fund the $33 million recertification project. The association approved replacing the railings, but did not approve the impact windows and doors, according to a spokesperson for AKAM. The spokesperson declined to disclose the loan amount.

According to a letter sent to unit owners, an engineering firm found that the balcony railing system “reached its end of useful life,” and the railings no longer comply with the city’s building code.

“My clients do agree that the recertification must be achieved, and they also believe that some repairs must be done,” Muir said. “The problem is the scope of the project.”

Greg Main-Baillie, who leads the new condo restoration division at Colliers, said he expects more associations will face similar lawsuits in the wake of the Surfside collapse, as many condo owners don’t understand what it takes to maintain older structures. Main-Baillie compared an aging building to a person in need of surgery.

“Until you actually get into the area of infection, you really don’t understand how bad it is,” said Main-Baillie, who is not involved in Palm Bay Yacht Club. “In the buildings that haven’t maintained themselves, the cancer is going to spread.”

The letter the association sent to owners suggests the same, imploring owners to “properly repair and protect our investment.”

“We feel bad that unit owners are going to incur expenses,” Bloom told The Real Deal . “[But] when you buy a condominium, you take the good, bad and the ugly.”

Palm Bay Yacht Club 780 NE 69th St # 1703, Miami FL 33138 Condo For Sale

Property Description

CALLING INVESTORS! Unit needs work. Concrete floor. Breathtaking direct and unobstructed water views from every room! Beautiful 2 bedroom 2 bath at The Palm Bay Yacht Club. High floor. Very bright south views. Large balcony overlooking the Bay, Miami Beach and Downtown Miami. Amenities at The Palm Bay Yacht Club include 4 tennis courts, spa, gym, 24 hr, doorman & valet, a convenience shop, bar, grill and a beautiful pool. Conveniently located within walking distance to the Bay front park, local shops, restaurants and much more. Unit comes with 2 parking.

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MiamiCondoLifestyle.com is not responsible for the accuracy of the information listed above. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program and the South East Florida Regional MLS and is provided here for consumers personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real Estate listings held by brokerage firms other than the office owning this web site are marked with the IDX logo. Data provided is deemed reliable but not guaranteed.Listing provided by London Foster Realty, MLSID A11506712

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780 NE 69th St

Miami, FL 33138

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The three palms bar has amazing drinks made by mixologist KIKI. Happy hour and karaoke cozy ambiance.

Felica Detox

The three Palms Drinks

This building is full of cockroaches, the interior ceilings have been opened to the eye for ages, leaf blowers constantly on from 9 to 5 everyday (a few at a time) including inside the garage!! Walls are paper thin and nobody follows the rules. Extremely noisy neighbors at late hours, children in the gym area (even though it's prohibited), babies peeing in the pool all the time (even though it's prohibited), filthy stairs, filthy steam room and lockers, very old tennis courts and thieves stealing your laundry clothes constantly. The only great thing about this place is Natasha, the girl in the office, always willing to help with anything. Shame on this place.

Ive been living here for 2.5 years now and this place has certainly gone through some changes. In the beginning there was a Manager names Denise who, although running this place very well was an absolute horror to interact with. I almost didn't purchase the apartment in this building because of her attitude. Luckily, I bought it anyway and Denise was let go for being so abrasive. Since Denise there have been a slew of management companies who have come in and unfortunately none of them have worked out very well. Although, in the last year the hallways have gone through (and some floors are still) a remodeling and are looking very modern and clean. The gym has finally been finished and it includes new saunas, steam rooms, lockers, showers and gym equipment. It looks fantastic. The outdoor area near the pool has finally been finished as well and the gazebo is back to working order. The staff here are respectful and friendly. They all say good morning and most know you by name. No complaints on the staff at all, especially since the manager doesn't make any real appearances for now. All and all, things are happening. Spaces are being cleaned and updated, the area is busting with new restaurants and bars, and the demographic in the building is becoming younger and friendlier. When I moved in I was one of the youngest people here and it just seemed like there were nothing but grumpy old people who had nothing better to do than watch the "youngins" and make sure we weren't being too loud of having too much fun. Everywhere you live you'll have neighbors that aren't favorable. I have a neighbor below me that thinks he owns the place and that no one around him should disturb his absolute quiet. Because of that I've invited less people over to my place because he just makes it a nightmare. That will soon change as I realize i should be free to enjoy my home just as anyone else would. Anyway, I digress. The Palm Bay has come a long way from where it was 3 years ago. Its well maintained, the grounds are beautiful, centrally located, in my eyes clean in all common areas, and I enjoy living here. Its an older building so of course there are some challenges that aren't great but in general, its a quality place. In 2 or 3 more years it'll be a really sought after location.

We were lucky that the managers were fired two months ago. I have been living here for four years and they made living here stressful. They never helped when needed. I hope the new managers will focus in residents now, instead of running this place like camp.

This is my first ever review ! I felt oblige to do so after reading some old reviews no longer pertinent in regards to my place of living. I am a Palmbay Yacht club resident for over 20 years, so one can say I am indeed a little bit bias because I LOVE my home. The building offer an excellent location ( Miami UpperEastSide/ MiMO district is more and more appealing , safe and more and more family friendly) , we finally enjoy again the benefit of a 24/24 gated community with security, PalmBay land has a great glamourous "Florida oldies" feel to it and it offer an impressive numbers of first class amenities which are really unbeatable for the money we pay. However, to be fair, over these past few years, I can disclose there were challenges with our successive management companies and, about 3 years ago I really was sad to witness how our "gem-hidden-best-secret-property" was so mismanage. It was bringing tension between owners and so much unhealthy negativity... BUT it is certainly not the case today ! Constructive and positive ambiance is back, our long waiting hallways beautification is - thanks god- behind us and the association is moving forward with the implementation of several fully funded improvement projects. As far as the building itself regardless economic bad times or good times, reserve were always rightfully funded and it was always look after and so it pays : today we are lucky to enjoy a state of the art new Gym , a brand new amazing modern Spa & Sauna, a new Jaccuzzi, a beautiful library, free high speed internet all over common areas and a charming BBQ and tikki area. I only wish our tennis courts be resurface soon ( they really don't look the part!) and I also can wait for our adult entertainment room featuring pool table and games finally open... Finally I would really love to see the overwhelming exterior green forest color goes away for a more subtil and more nuance (pan)tone whenever the building will be repaint. Hope it helps to better and more fairly describe PalmBay Yacht Club today VT

Hello, I have lived here for 10 years. Great location, lovely pool and a nice store in the lobby.

I was a owner for 20 years and I just sold THANK GOD. This building is so mismanaged, the board is so arrogant, and the new tenants are so low class. Maintenance is BAD Cadet is the only worker who is good. The office is indifferent it has changed 10 times since I have been here. After there was a MURDER on my floor (24) the carpet was removed in patches by police it took the building over year to repair. Without my knowledge or permission the workers came into my apartment to repair building intercom. While there they removed a very expensive antique painting moved it across the room left it up against the wall it fell and I had to pay $400. to repair frame they LIED claiming they did not move it just happened to be under where they were working. My windows leaked and ruined plaster under them. building said it was my problem when ever anything happens IT IS YOUR PROBLEM. If you want to know what life is like living in a government PROJECT building , "The Palm Bay Yatcht Club" is for you! Michael Antonetti

I am living here for 2 years now and I can only give a good review. Denise runs the place with a firm hand and I see big improvements. The place is clean and orderly. the doormen are helpful and polite. I cannot agree with the previous review. I have never seen a child in the gym. I never hear my neighbors at night. (I have a corner apt. so maybe that helps. )I have never seen a child urinate in the pool. The residents are mostly friendly and there is a diverse range of ages. When I first came, the building seemed much older, but now young families and singles seem to have moved in- both Spanish speaking and English speaking. The lobby has been spruced up and modernized, while it maintains some of that 70's and 80's glamour. There are a lot of benefits-- There is a grocery store and ATM machine in the lobby which is really convenient. Basic Direct TV service is included etc. It's been a good place to live and I think a worthy investment.

Great place to live, close to everything , right by the bay . Safe & secure , perfect place to raise a family!

2 other reviews that are not currently recommended

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THE PALM BAY YACHT CLUB C

Interior Features

• First Floor Entry
• Split Bedroom
• Walk-In Closet(s)

Exterior Features

• East Of Us1
• Open Balcony
• Community Room
• Elevator(s)
• Exercise Room
• Heated Pool

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Watch CBS News

Palm Bay Yacht Club condo owners say $46 million repair bill doesn't add up

By CBS Miami Team

Updated on: February 9, 2023 / 5:25 AM EST / CBS Miami

MIAMI - A shocking assessment for one condominium in Miami this week.

Owners are being asked to pay $175,000 each towards their 40-year recertification. This is a story we have been hearing more and more across South Florida.

Residents say something isn't adding up and they are putting the blame on their homeowners' association.

"I'm in shock, in disbelief," said Christian Murray.

Murray has lived in the Palm Bay Yacht Club condos since 2016. Now he and many other residents are worried if they'd be able to keep their homes.

Background The building needs its 40-year recertification, meaning, an engineer needs to come and see if the building needs structural and electrical repairs. It's not uncommon that some areas need to be fixed.

When the property manager, called AKAM, brought in their engineer, they claimed the building needed $46 million dollars in repairs.

"We'd have to pay nearly $200 thousand in repairs," said Murray. "That's insane."

Murray says the entire building itself is worth around $50 million.

So residents hired a different engineer to do the same assessment and they were told the building needed around $23 million in repairs, a far cry from the initial $46 million.

"Asking for $46 million is really extraordinary," said attorney Jane Muir.

Muir was hired by the residents to fight against the property managers.

"In my 44 years as an engineer, it was a shock to see an assessment that high," said structural engineer Juan Fernandez-Barquin. "I don't like injustices, and I think that's what we are looking at here."

Fernandez-Barquin was one of the engineers hired by residents to get a second opinion.

"There are some repairs that need to be done, but it's not $46 million dollars worth," he said.

AKAM said the price also includes repairs to the outdoor railings and hurricane-impact windows.

However, Fernandez-Barquin says those items do not fall under the 40-year recertification and should be paid for separately.

The Problem Upon further investigation, Muir said the initial engineer largely inflated the cost of repairs. Residents believe AKAM is not only inflating numbers but also wants to hire their sister company, Project Management Group, to oversee the repairs.

Many residents say they did not know Project Management Group was associated with AKAM.

"It's going to ruin their lives, people are going to lose their homes," said resident Sonia Przulji. "I cannot afford this. I've cried myself to sleep wondering what I'd do."

"I want the truth," said resident Margarita Genova-Cordova. "This is not right."

CBS4 reached out to the AKAM attorneys and they've agreed to speak with us. 

The CBS Miami team is a group of experienced journalists who bring you the content on CBSMiami.com.

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