Monthly Assessments at 900 Biscayne Bay Drop 12 Percent Year-over-year
January 16, 2018 by Lucas Lechuga
The owners at 900 Biscayne Bay received highly favorable news heading into the new year - their monthly assessments would drop 12 percent when compared to the amount that they paid throughout 2017. A big reason for the unusually large reduction was the $15M that the condominium association received last year as part of the settlement agreement resulting from 558 construction defect litigation it had with the developer and other related parties.
That litigation had been a thorn in the condominium association's side, but now, with such a sizable settlement, they can make some nice improvements to the building. They recently updated the spa and, later this year, will begin renovation on their pool deck.
The monthly assessments at 900 Biscayne Bay are now at 74 cents per square foot, which is outstanding considering the level of amenities and services that the building offers. Below are the 2017 vs. 2018 condo dues for three of the 1 bedroom lines at 900 Biscayne Bay:
- 03 line
- 2017: $765.85 per month
- 2018: $673.25 per month
- 05 line
- 2017: $780.16 per month
- 2018: $685.80 per month
- 07 line
- 2017: $787.72 per month
- 2018: $692.45 per month