Candidate to the Board of Aquarius: Philippe Cooper

Philippe J. Cooper, MD — Candidate, Aquarius Condominium Board of Directors

A Committed Neighbor & Proven Steward

My wife Klara and I have been proud members of the Aquarius community since 2017, enjoying our home both full- and part-time. As a recently retired physician and anesthesiologist, I now have the time, energy, and professional expertise to dedicate to serving our community effectively and with unwavering commitment.

My prior board service (July 2022 – July 2023) was cut short when I felt compelled to resign over board decisions that, in my professional judgment, compromised our foundational safety and security. That experience underscored the critical need for diligent, principled leadership—a standard I pledge to uphold.

Professional Qualifications for the Task

Throughout my career, I held significant leadership roles, including Operating Room Medical Director and Chief of Anesthesia, where I managed complex departments, multimillion-dollar budgets, and critical safety protocols within major hospital systems. I understand operational efficiency, fiduciary responsibility, and timely execution. Additionally, my hands-on experience managing commercial real estate provides practical insight into property maintenance and vendor relations.

My Pledge to the Community: A Platform for Action

1. Safety & Security: Our Non-Negotiable Foundation
The structural integrity of our buildings and the reliability of our life-safety systems (fire protection, alarms) are paramount. Recent tragedies in Florida condominiums are a stark reminder. I will always prioritize and defer to expert engineering and inspection advice. Furthermore, our security contract requires rigorous oversight; I believe our current vendor’s performance needs immediate review and measurable improvement to ensure our peace of mind.

2. Proactive Maintenance: Prevent Costly Crises
For years, we have deferred essential maintenance, leading to visible decline and looming special assessments. The corroding stairwell door frames (a potential $200,000+ future liability), the deteriorating pool access door, and issues in the lobby and parking lots are symptomatic of a reactive approach. My philosophy is simple: invest wisely now to preserve our property, enhance daily living, and prevent exorbitant costs later. Preventative maintenance is an investment in our quality of life and our financial future.

3. Professional Management: Expertise We Deserve
Our community’s scale and challenges demand professional, day-to-day management. The prolonged, poorly communicated delays in our 50-year construction project exemplify the current board’s operational overreach. Board members are volunteer stewards, not full-time managers. I will advocate for hiring a professional management company to ensure projects are completed on time and on budget, and to restore essential front-office support and resident access to management.

4. Transparency & Communication: Rebuilding Trust
Residents deserve clear, frequent communication and financial transparency. I support:

  • More regular board meetings and timely updates.

  • Clearer financial reporting and long-term planning.

  • The candid, issue-focused approach exemplified by fellow candidate Ned Taljic.

A Final, Straightforward Commitment

Implementing a proactive, professionally managed strategy requires an upfront investment. However, the current cycle of neglect leading to emergency special assessments is already more costly—both financially and in our quality of life.

If you believe, as I do, that Aquarius should be a securely maintained, professionally run, and transparently governed community, I ask for your support for myself and the slate of new candidates. We have no hidden agenda—only the clearly stated goal of safeguarding our investment and restoring the enjoyment of our unique and beautiful oceanfront home.

Let’s work together for a better Aquarius.

Philippe J. Cooper, 1603N

…..

 

Candidates to the Board of Directors of Aquarius Condominium Association:

Leon, Howard, Ned, Philippe and Mark are candidates that send their ideas to the aquariusuno.com site. The other candidates did not sent their presentations. As all know at aquariusuno.com all ideas are welcome if not uncivil or illegal.

Leon Behar    https://aquariusuno.com/2025/12/16/leon-behar-experienced-doctor-seeks-board-membership/

Howard Benson:     https://aquariusuno.com/2025/12/12/a-vision-for-aquarius-howard-benson-for-board/

Ned Taljic:      https://aquariusuno.com/2025/12/08/ned-taljic-is-running-for-the-board-check-out-what-he-has-to-say/

Philippe Cooper:  https://aquariusuno.com/2026/01/08/candidate-to-the-board-of-aquarius-philippe-cooper

Mark Zeltser:   https://aquariusuno.com/2026/01/11/mark-zeltser-is-running-to-the-board-of-aquarius/

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Quick break. It helps one to think.

How many friends do you have? 20, 30, 80? I wish you have all of them.

The Joshua had dinner last night. All his years came to the table.

Is the sound on?


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Eugenia Volcheck likes the Aquarius Board of Directors

Eugenia Volcheck likes the Aquarius Board of Directors

Eugenia asked to publish this letter:

Dear Aquarius unit owners,

This year, as opposed to prior year when the Board of Directors (BOD) was re-elected
without an election, we have five additional candidates who wish to run side by side with
the current Board members. Now we, as voting owners, have a serious task to elect five
Board members from 10 running candidates.

The current Board has been elected in year 2022 and for the last four years have
demonstrated successful management of serious work on time, managed our funds
without getting additional loans or credit lines, and kept the assessment for 50-years
work and roof project to a minimum compared to the assessments in prior years. The
largest project of replacing roofs of two buildings was completed with minimal change
orders. The current BOD consists of young highly educated dedicated professionals
who know the business, can select proper contractors, know finances and can save
money.

For example, we are very fortunate to have Elizabeth Khalevich as our Treasurer. She is
a Licensed CPA (New York), FINRA Series 27 Register Principal and has 20 years of
experience at TD Bank where she is a finance executive.

These days, a lot of time and effort are required from the BOD to prepare our
condominium for 50-years recertification. The current functional contracting company
tries to properly redo the ineffective structural work done by previous Board (balconies
repair, garage columns fixing, building’s walls repair, etc.). We are pleased to see that
our Board works as a dedicated team, in unison, without any conflicts and problems.
Please read Nathan Weinstein’s letter where he, as a member of Engineering and
Grievance Committee who worked closely with our BOD, professionally described the
serious, time-consuming, intelligent work performed by the current Board.
I would like in this letter to give a little overview of the new running candidates.

Leon Behar has served on this Board previously. Leon sometimes did not conduct
himself as a team member by having conflicts with other Board members and arguing
with owners when they spoke up at Board meetings. He tried to run again in prior years
but was not elected. For the 2025 election, he chose not to run because he knew that
the 50-year certification would be a large project. But now with the 50-year project winding down he sees the opportunity to have an easier job as a Board member and decided to run. Leon, as an elderly person with some health problems, spends a lot of time with his family off Florida. Besides that, his medical experience would not be applicable in constant construction work in restoration and renovation of our condominium

Philippe J. Cooper, MD, a recently retired Medical Doctor and Anesthesiologist, also
runs for the Board again. He replaced a resigned Board member in July of year 2022. In
July of 2023, when he decided to move to another state, he resigned and moved
without any second thought and any dedication and desire to complete the BOD
service. Now in his resume he listed some safety & security, maintenance,
management, and transparency issues which needed improvement. I am just wondering
how he would handle these issues, having only medical background, being six months
in another state, and possibly resign from the Board whenever he wants.

Howard Benson, a retired prosthodontist, who spends eight months in Virginia, is also
a new candidate. He would like to address unreliable elevators, pool heaters, and
hallway climate control. All these issues we have inherited from bad repairs done by the
previous Board. Mr. Benson obviously does not understand that these problems cannot
be properly fixed without equipment replacement with additional serious financing. On
the other hand, considering his short time being here and his absence of engineering
background will he be able to supervise these projects?

Nedzad  -Ned- Taljic is a new running candidate previously being an Accountant and
an Auditor, sounds like good financial help for the Board. He listed in his resume some
issues with financial practices and the 2026 Budget. If he is genuinely concerned about
these issues, why did he not bring them to our Treasurer Elizabeth Khalevich and
resolve them prior to the annual budget meeting. Please remember that the Board
conducted a budget review meeting well in advance of mailing out the budget packet,
which would have given him ample time to raise any concerns. Ned was also invited by
Board to join Finance committee, but he refused to join showing no interest in serving
community. He has owned his unit for 11 years already, so he has been through enormous money overspending by the previous Board when the original assessment of 15 million became 22 million. Why, having the experience described by Accountant and Auditor, did he not ask funds spending questions, check the budget, and instead paid silently all the huge expenses we had to pay at that time of the 40-year certification?

Mark Zeltser is also a new running candidate with only minimum sufficient information
about himself. We only know that he has lived in Aquarius for about 10 years, has a
business degree and has started his own companies. We also know that he has four
kids. I don’t think his resume without his picture and any detail personal information
about his profession, education, and experience sounds very convincing. But he
expressed a lot of ideas about improving and beatify our property for “entertaining his
guests”. I don’t think that we should seriously consider this candidate.

Being a Board member requires professional experience and proper education including
knowing Florida Condominium Statute, Aquarius Declaration of Condominium, Aquarius
Buy-Law, Aquarius Condominium Rules.

Therefore, it is preferable to elect for service on the BOD young professionals who learn
fast, live here permanently, have good health and a lot of energy. This is not an easy
job, and the current board dedicates many hours day in and day out to do this job.
Please consider these requirements when you place your vote.
Another thing to consider is " Don't change horses midstream". The meaning of CHANGE HORSES IN MIDSTREAM is to choose a different leader or policy during a time when serious problems are being dealt with. The current Board effectively prepares our condominium for 50-years inspection and recertification. Therefore, give them a chance to successfully accomplish this task.

Please vote for the following current Board candidates:
Kiet Ngo,
Elzbieta Jankowska Fishman,
Elizabeth Khalevich,
Rami Zureick,
Aleksandr Brodskiy.

Respectfully,
Eugenia Volchek, unit owner.


Comments are welcome and will be published in this site.

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Nathan Weinstein Voices His Support for the Board of Aquarius

 Nathan Weinstein Voices His Support for the Board of Aquarius

 

It is the policy of this blog to publish a wide range of opinions, provided contributors maintain civility. Authors are solely responsible for the content of their posts. We invite comments to help build a comprehensive resource of information, perspectives, and suggestions for the Aquarius community. As it is very well known this site is independent and not supported by the ACA.

Nathan Weistein letter:

Dear Fellow Neighbors,

 

Please take a moment to review my thoughts regarding the fast-approaching board election.

 

In my conversations with many owners, I found that opinions differ on the current state of our condominium affairs. In those same conversations, I also noticed a lack of accurate information.

Some owners were clearly expressing ideas and incorrect data influenced by outside sources. I decided to provide this overview because, through my work on committees and my involvement in Aquarius life, I have a better understanding of the current state of our condominium’s business.

 

Last year, the board was re-elected without an election, demonstrating full trust in its conduct. We also saved money by avoiding a voting campaign. The successful completion of roof project without drastic cost increase kept most residents happy and satisfied.

 

This year, we are going through the 50-year recertification project, and many people are understandably tired. This project is mandated by the state and must be completed regardless of residents’ opinions. If the condominium were to refuse to perform the required work, the state would step in, designate a contractor, and bill the association without negotiation or competitive bidding. In such a case, the state or contractor could also require residents to vacate the building or certain units during construction. This approach would be extremely costly for all owners.

 

The 50-year recertification project has been delayed for several reasons, including bad weather, additional work beyond the original contract scope, and more extensive balcony repairs than initially expected. These delays do not necessarily mean additional costs, except for owner-requested and board-approved additional work backed by change orders. Given the board’s fiscal prudence and cost conscious approach, we should not anticipate another assessment to cover the completion of this project. For comparison, the 40-year recertification project exceeded its original $15 million assessment by more than $7 million, almost 48%. It should be noted that one of the unexpected and time-consuming repairs, identified by the engineers when the 50-year project began, was the repair of many structural cracks on the exterior walls and the East side staircases for both South and North Towers. That is much unexpected taking into consideration that Board just closed permits for 40 years cert project in 2022 which included structural repairs of the entire envelope for both buildings. The current Board asked our engineer why we have so much damage so soon after the 40 years recertification project completion. The engineer reviewed the 40 years cert as-builts and found out that staircases and structural cracks were not addressed during the 40-year work.

We should understand the decision made by current engineer and BOD was to properly repair all issues we have. Yes, this will take an extra time but it’s absolutely necessary for building structural integrity and safety.

Compare that to the roof replacement project. During the roof replacement project, the current board wisely decided to include substantial structural and electrical work on roof that would be required to pass the 50-year certification. Had that not been done, we would be dealing with those issues now and paying to fix any resulting damage to the roof. The total roof replacement contract was $2.5 million with only a slight increase of $166,200 through properly executed change orders (install structural and electrical work) which is 6.5% increase compared to 48% overrun of the 40-year project.

 

The 40-year project was managed by Atlantic Pacific, our former management company. They were given full authority, by the board at that time, to manage the project as needed. In my opinion, it was handled with an “open checkbook” approach, with much of the work paid without proper change orders. In contrast, our current board has been financially vigilant, carefully scrutinizing every change order on the 50-year project.

In my opinion, the 40-year project was financially disastrous for Aquarius and was not truly completed, as required since the roof and west wing columns were addressed only after a new board was elected. We were told the project was completed and signed off by the city—how that signature was obtained remains unclear. It is important to understand that compromised roofs and columns could pose serious safety risks.

In preparing and conducting the 50-year recertification project, the current board has skillfully and professionally managed an enormous scope of work, including the selection of an engineer, solicitation and evaluation of contractors, competitive bidding, contractor interviews, contract negotiation, and daily professional oversight of the work. There are, of course, some unhappy owners with various opinions and ideas on how construction should be handled. However, it is important to remember that the scope of work was defined by the state law requirements, while the design and specifications were developed by licensed engineers. To note also that the current board are extremely knowledgeable in engineering and building maintenance matters. This BOD also demonstrates the proper questioning of vendors to ensure that Aquarius is not taken advantage of financially. Upon completion, all work will be verified by the engineer, signed off, and submitted to the city building department for approval.

Any deficiencies identified by the board or owners will be documented on a punch list and corrected. Currently all installations are periodically verified by visiting city inspectors. “No cutting corners” so to say. We should reserve our judgments until construction is completed.

 

I hope my fellow owners understand that only this board can ensure the proper completion of the 50-year recertification project. They initiated this important 50-year project and have been involved in every detail—technical, contractual, and operational. Bringing in a new board at this stage to deal with the completion could be disastrous in many ways, especially since some new candidates propose relying heavily on our management company, FSR. We remember the outcome of the 40-year project done under principles of relying on management company.

Some candidates have also suggested increasing office and maintenance staffing. I understand the board is already in the process of hiring an additional maintenance professional, which would bring the total staff to four.

The current board is also working diligently to manage aging elevators and AHUs (roof-mounted air-handling units that serve the corridors), attempting to extend their useful life. These systems are approximately seven years old and have an average life expectancy of 15 years for AHU’s and 20-25 years for elevators. Unfortunately, the elevator vendor that was chosen by the prior board went out of business and all warranties are null and void. Also, replacing equipment could potentially damage our new roof if not managed and planned properly. Not sure if replacing new equipment without proper understanding is best financial decision for community. Some new  candidates believe they should be replaced due to ongoing issues. While replacement is always an option, it is also very costly.

 

As reported in the Sun Sentinel, condominiums across South Florida are raising maintenance fees by as much as $500 per month on average. Despite this trend, our board has managed to reduce condo fees through fiscally responsible decision-making. While new candidates promise “more transparency,” transparency is not a slogan—it is a practice. From my perspective, we already have a full transparency. Our current Board implemented President reports which include Treasurers report, status of most current projects and plans, and important maintenance issues and contracts changes. All is discussed during Board meetings and distributed to all unit owners.

Residents are heard by the Board and can ask as many questions as they have during the meetings. They have also implemented advisory committees where unit owners have opportunity to be involved in daily operations from maintenance, engineering, finance, legal, social and technology. The Board designed and implemented a community website where we can find all our contracts, monthly financials, create work orders and track them. Our manager is also sending periodic reports regarding completed and in-progress maintenance tasks and projects. These detailed updates and community involvement via committees did not occur previously and are explicit proof of our current Board’s transparency.

 

I hope all owners will vote based on a clear understanding of Aquarius’ current rejuvenated condition and the tangible results achieved by the current board, that has admirably dealt with our battered buildings that were previously neglected by past practices. A full re-election of the existing board would show our full support and recognition of their sacrifice in devoting substantial personal time and effort by each BOD director for our community and would send a strong message of our appreciation and support.

 

Happy voting to all. Soon we will find out whether we choose proven results over wishful thinking and unrealistic promises. Our clear and unbiased understanding of the current Aquarius standing and possible future impact on our personal wallet should be a good judge in helping to make this important decision.

 

Respectfully,

 

Nathan Weinstein  806S

Member in Engineering and Grievance Committees

Owner at Aquarius since 2017

 

.o0o.

Candidates top the Board that offered their views to be published  in Aquariusuno:

Leon Behar    https://aquariusuno.com/2025/12/16/leon-behar-experienced-doctor-seeks-board-membership/

Howard Benson:     https://aquariusuno.com/2025/12/12/a-vision-for-aquarius-howard-benson-for-board/

Ned Taljic:      https://aquariusuno.com/2025/12/08/ned-taljic-is-running-for-the-board-check-out-what-he-has-to-say/

 

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Feliz Navidad Prospero Ano y Felicidad

Feliz Navidad Próspero Año y Felicidad

I wanna wish you a merry ChristmasFrom the bottom of my heart

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Aquarius Condominium 2026 Payments

Aquarius Condominium 2026 Payments

 

I recently contacted the Aquarius Management Office to clarify if payment coupon booklets will be issued for 2026. Management is currently investigating and will provide an update soon. In the meantime, here is what you need to know:

  • View Your Dues: The 2026 Budget and Schedule of Proposed Maintenance are now available on the FirstService website and further down this note.
  • Payment Amounts: Because non-SIRS  (Structural Integrity  Reserve Study) reserves were not approved, please refer to the yellow-highlighted column in the budget for your correct 2026 payment amount. Note that this budget covers only mandatory expenses and it is doubtful if it accounts for inflation.
  • Action for ClickPay Users: * Full Balance AutoPay: If your account is set to “Full Balance,” your payment should adjust automatically on January 1.
    • Fixed Amount Payments: If you pay a specific set amount, you must manually update it to reflect the 2026 dues.
  • Verification: I recommend reviewing the ClickPay operator’s statement (located below the “Proposed Maintenance” table) and checking your bank statement after the first of the year to ensure the payment was processed correctly.

ClickPay instructions according to ClickPay Help Desk:

  • “” Thank you for being on hold. We appreciate your time.
  • Since your AutoPay is set up to pay the FULL AMOUNT on the scheduled payment date, I would like to inform you that whatever balance is provided by the property management at the time of your payment is applied to the AutoPay schedule, even if the increased or decreased, amount will be withdrawn automatically without the need for making any changes.””

This statement is valid only if you authorize ClickPay FULL AMOUNT. The other options require manual adjustment acording the table approved by the Board of Directors.

If you have questions please address the Aquarius Management Office.

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Chanukah Celebration at Aquarius – Saturday December 20, 2025

Chanukah Celebration at Aquarius – Saturday December 20, 2025    7:45 pm

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Aquarius Community Candidates’ Night December 22

Aquarius Community Candidates’ Night

♦ Join us for an evening with the candidates! Hear their visions, ask your questions, and learn how they plan to shape the future of our community. This is your chance to be an informed voter.

♦ December 22, 2025 | 6:00 PM | The Green Room

♦Light refreshments provided. All residents welcome.

 

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Leon Behar – Experienced Doctor Seeks Board Membership

Leon Behar – Experienced Doctor Seeks Board Membership at Aquarius

 

In December 2020, my wife Rita and I were delighted to join the Aquarius community. As a retired physician and former clinic network operator, I’ve spent my career in management and leadership. I operated a network of clinics in Broward and Palm Beach Counties. I also served as medical director for insurance companies in Florida. I’ve also dedicated years to board service—both internationally in Jerusalem and right here in Aquarius during 2022 and 2023.

I would like to use my management skills to benefit Aquarius and it residents.

I believe in using my skills to give back. I am committed to ensuring Aquarius is not only well-managed but also a wonderful place to live. I would be honored to have your vote and the opportunity to represent your interests with integrity and energy that will promote a better quality of life, for all of us at Aquarius.

Leon Behar, M.D. (1404S)

 

Other Candidates:  Ned Taljic       Howard Benson    Leon Behar this candidate    Philippe Cooper

Leon Behar    https://aquariusuno.com/2025/12/16/leon-behar-experienced-doctor-seeks-board-membership/

Howard Benson:     https://aquariusuno.com/2025/12/12/a-vision-for-aquarius-howard-benson-for-board/

Ned Taljic:      https://aquariusuno.com/2025/12/08/ned-taljic-is-running-for-the-board-check-out-what-he-has-to-say/

Philippe Cooper:        https://aquariusuno.com/2026/01/08/candidate-to-the-board-of-aquarius-philippe-cooper

 

 

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A Vision for Aquarius – Howard Benson for Board

A Vision for Aquarius – Howard Benson for Board

Dear Neighbors,

My name is Howard Benson, and I am running for the Aquarius board because I believe in the future of this building—and because it has been part of my family’s story for generations.

My grandparents were original owners here in 1974. Through the years, Aquarius has been the backdrop for some of our most cherished memories—from my mother and her siblings spending summers here, to my own children and now grandchildren learning to swim in this very pool. After my grandparents’ unit was sold, my wife Diane and I chose to return, purchasing a second home here in 2005 so that our family could continue building memories in this special place.

Today, as a retired prosthodontist with more than 40 years of practice, I have the time and commitment to serve our community. I also bring more than 30 years of experience owning and managing commercial property. That background has taught me a key principle: a board should provide clear oversight and hold management accountable—not attempt to do their job for them.

I’ve seen Aquarius evolve over the decades, and I believe we have significant untapped potential. But to realize it, we must address ongoing operational issues that impact daily life—such as unreliable elevators, pool heaters, and hallway climate control. These aren’t just inconveniences; they’re solvable problems that affect our quality of life and property value.

Howard

  • Improving facility reliability and upkeep

  • Ensuring professional management is accountable and effective

  • Increasing resident access to management and board transparency

  • Advocating for practical, forward-looking improvements

My dedication to Aquarius is both personal and practical. I want this building to thrive, and I’m ready to work hard to make that happen.

If you believe in a well-run, vibrant, and cherished Aquarius, I would be honored to have your vote.

Sincerely,
Howard Benson

.o0o.

Candidates to the Board of Directors of Aquarius Condominium Association:

Leon, Howard, Ned, Philippe and Mark are candidates that send their ideas to the aquariusuno.com site. The other candidates did not sent their presentations. As all know at aquariusuno.com all ideas are welcome if not uncivil or illegal.

Leon Behar    https://aquariusuno.com/2025/12/16/leon-behar-experienced-doctor-seeks-board-membership/

Howard Benson:     https://aquariusuno.com/2025/12/12/a-vision-for-aquarius-howard-benson-for-board/

Ned Taljic:      https://aquariusuno.com/2025/12/08/ned-taljic-is-running-for-the-board-check-out-what-he-has-to-say/

Philippe Cooper:  https://aquariusuno.com/2026/01/08/candidate-to-the-board-of-aquarius-philippe-cooper

Mark Zeltser:   https://aquariusuno.com/2026/01/11/mark-zeltser-is-running-to-the-board-of-aquarius/

 



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The high cost of high-rise condo living in South Florida

The high cost of high-rise condo living in South Florida

 

WLRN Public Media – The Florida Round Up -By Tom Hudson
also available on Sun Sentinel

Published December 5, 2025 at 6:00 AM EST  suggested to be published on aquariusuno.com by Lean Behar (1404N)

Downtown Miami high rises along Biscayne Blvd in Nov. 2025.

Original link https://www.wlrn.org/business/2025-12-05/hoa-condo-costs-florida

It is more expensive to own a high-rise condo in South Florida than just about anywhere else in the U.S. except for an island between the East and Hudson rivers.

And that doesn’t include paying for the condo itself. That’s just the cost of upkeep in the form of monthly fees.

An annual review of condo buildings of at least seven stories managed by First Service Residential finds the average association fee of a Miami-Dade high-rise condo is up almost $500 a month compared to last year. Average monthly assessments now run more than $1,900 a month for these types of buildings. The cost is just over $1,800 a month for units in Fort Lauderdale and Palm Beach.

Only condos and co-ops in New York City have higher average costs per square foot.

“Miami seems to be a highly desirable area,” said Robert Smith, the south region president of First Service Residential. “What you’re seeing is that strong international buyers are here (with) different types of expectations around service.”

High-end luxury buildings have dominated the new construction market as developers look to recoup costly land and higher building expenses. Newer buildings not subject to reforms put in place after the collapse of the Champlain Towers South building in Surfside also have experienced more demand.

Sales of $1 million-plus condos were up 7.6% in Miami-Dade County in October, according to data from the Miami Realtors Association. The realtors group also found over the past two years more than half of newly built condos have been brought by international buyers.

“The luxury market remains really strong and with that market comes service expectations,” Smith said.

However, it’s not necessarily pool-side towel service that has driven up monthly fees. It’s been insurance, personnel and, to a lesser degree, building up financial reserves.

The 2025 data is the second year First Service collected what it calls “benchmark” information on the budgets of buildings it manages across North America.

The proportion of a condo unit’s monthly fees going toward insurance rose 25% to $377 a month. The average high-rise condo owner in Fort Lauderdale/Palm Beach paid $438 a month for its association’s insurance this year. Active hurricane seasons in Florida over the past few years coupled with the Surfside condo building collapse fueled fast escalating property insurance premiums.

But Smith is seeing some relief.  ”What’s encouraging for me is that we’re starting to see some relief in the insurance market with more carriers and reduced premiums,” he said.

Insurance costs are second only to regular operating expenses for the condo associations surveyed. Those operating costs include professional management fees, which were up more than 40% on average per unit from a year ago.

 

Associations also are putting away more money into reserves than they did last year. About 12 cents of every HOA budget dollar went into reserves in this year’s study, up from 9 cents in 2024. Fort Lauderdale and Palm Beach associations are putting away 14 cents of every budget dollar.

While an improvement from a year ago, the proportion of association budgets going toward building financial reserves in South Florida remains below associations in most other large metropolitan areas.

Made with Flourish • Create a map

“We’re working with our associations consistently now about strategic planning to understand what their goals are and what their future looks like in order to deal with milestone inspections (and) starting a reserve fund appropriately,” said Smith.

Physical inspections of older buildings and examining financial statements of older buildings are required under reforms passed by state lawmakers after the Champlain Towers South tragedy, which killed 98 people in 2021.

Tags

Business & Economy real estateeconomyLocal NewsMiami-Dade Countycondominium

 

Tom Hudson is WLRN’s Senior Economics Editor and Special Correspondent.

See stories by Tom Hudson

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Funny Matter:

 

Yes. There was a notice from the HOA. They’ve officially requested we stop leaving our anxieties on the doorstep.

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