Andrew Mattie SVP, Engineering | realtors.com
More than 30 luxury high-rise buildings in Miami Beach, Florida, are reportedly sinking, according to a recent study by the University of Miami Rosenstiel School of Marine, Atmospheric, and Earth Science. The research found that 35 upscale condo and hotel buildings in Sunny Isles Beach, Miami Beach, Surfside, and Bal Harbour have sunk between 2 and 8 centimeters from 2016 to 2023.
The affected properties include notable structures such as Faena House, Porsche Design Tower, and the Surf Club Tower. The phenomenon is attributed to subsidence—a process causing gradual land sinking. Researchers used interferometric synthetic aperture radar technology to assess land shifts over seven years, revealing movements up to three inches.
Lead author Farzaneh Aziz Zanjani stated that "the discovery of the extent of subsidence hotspots along the South Florida coastline was unexpected." She emphasized the importance of ongoing monitoring for long-term implications on these structures. Co-author Gregor Eberli clarified that their intention was not to cause alarm but rather to quantify subsidence levels for better management.
Despite these findings, wealthy buyers continue investing in Florida's coast due to its appealing real estate market and lifestyle benefits. Realtor.com Chief Economist Danielle Hale noted that "warm weather and sunny beaches have made Florida a vacation and retirement destination for decades," highlighting factors like a business-friendly climate and favorable tax environment.
High-profile celebrities such as Jennifer Lopez and Cher have homes in Miami Beach. Others like Jeff Bezos, Tom Brady, and Ivanka Trump own properties on Indian Creek Island near the affected area.
The study was partly motivated by interest following the Champlain Towers South condominium collapse in 2021. However, some critics question whether subsidence significantly impacts building stability. Kobi Karp from Kobi Karp Architecture & Interior Design expressed confidence in the structural integrity of buildings mentioned in the report.
Homeowners face rising insurance premiums due to climate change effects and natural disasters. James Wang from REAi advises potential buyers to scrutinize insurance policies carefully before purchasing property in areas with known subsidence issues.
Wang suggests examining a building’s history for structural assessments or mitigation measures against sinking risks as part of due diligence before proceeding with purchases.
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