Attorney Kistemaker Featured in Property Insurance Report ….

Older coastal buildings in rough shape with unaffordable special assessments will likely be sold to developers and torn down for new luxury high-rises. Condo units worth hundreds of thousands of dollars on valuable land will be foreclosed upon and replaced with condos worth millions of dollars, said Erum Kistemaker, an attorney in the Daytona Beach area who represents condominium associations. “These condos became almost like retirement living facilities – people with fixed incomes – that is what is going to change,” she said. “You’re going to see a different [type of owner] in condos.” Read more in the Property Insurance Report and subscribe!