The weekly podcast The Peter Zalewski Show™ features interviews with South Florida business leaders focused on real estate, finance and the economy.
The program - hosted by Peter Zalewski of the Miami Condo Investing Club™ - is broadcast live every Wednesday at 4 pm (Miami time) at MiamiCondo.Club and on Peter Zalewski’s social media accounts to watch the free live broadcasts.
The objective of the show is to deliver straight talk, share institutional knowledge and provide data-driven analysis on the macro and micro economic forces shaping the tricounty South Florida region of Miami-Dade, Broward and Palm Beach.
Episode Overview
On the five-year anniversary of the Champlain Towers South condo collapse, host Peter Zalewski pivots from the normal Wednesday livestream of The Peter Zalewski Show™ to air an in-depth conversation recorded June 18, 2026, with Oscar Musibay of Lee & Associates on the latest episode of the Miamees On Fire™ program.
The 64-minute discussion—recorded at the South Miami headquarters of Miami’s Community News—examines the South Florida condo market before and after the 40-year-old Champlain Towers South at 8777 Collins Ave. collapsed at 1:22 am on June 24, 2021.
Nearly 100 people died in the tragedy, and the families of the victims ultimately received a $1 billion settlement.
Surfside Forever Changed Condo Living In Florida
Peter Zalewski and Oscar Musibay of Lee & Associates discuss the repercussions of the Champlain Towers South collapse on June 24, 2021, on the the Miamees On Fire™ podcast broadcast from the headquarters of Miami’s Community News in South Miami.
In the aftermath of Surfside, the Florida Legislature adopted measures now forcing cash-strapped unit owners to contend with rising maintenance fees, hefty special assessments and pricey insurance premiums.
This dynamic is called the Florida Condo Association Financial Cliff.
The episode also serves as the latest breadcrumb in the build-out of the Condo Ratings Agency™, set to launch in November 2026 to coincide with the start of the 2026-27 Winter Buying Season.
The Agency is tracking nearly 13,000 condo associations and about 760,000 units across the tricounty South Florida region of Miami-Dade, Broward, and Palm Beach counties, using state records to evaluate the financial feasibility, stability and viability of individual associations.
The Peter Zalewski Show™—which livestreams at 4 p.m. on Wednesdays—returns to its normal format next week.
Click play above to watch Zalewski’s analysis, and use the timestamped timeline and the Top 10 Takeaways below to navigate the program on demand.
Episode Timeline (Excluding Opening and Closing Music)
00:00 - Introduction
01:07 - Five-Year Anniversary Of Champlain Towers South Collapse
01:30 - How Surfside Changed Florida Condo Industry
01:54 - New Inspection Laws Reform Overview
02:41 - Reference To Miamees On Fire™ Podcast
03:55 - Personal History In South Florida Condos
04:21 - Surfside As South Florida's Hurricane Andrew
04:36 - Fannie Mae Eliminating Limited Review In August 2026
05:28 - Florida Condo Associations By Numbers
06:21 - Modern Vs. Vintage Condo Defined
06:38 - Condo Ratings Agency™ In Development
07:03 - 67% Of South Florida Units Are Vintage
07:17 - Structural Integrity Reserve Studies (SIRS)
07:37 - Condo Boards Must Fund Repairs Starting 2026
08:00 - Special Assessment Cost Estimates By Building Height
08:19 - Hard Money Loans For Associations
08:38 - Buyer Risk In Distressed Condo Market
09:01 - Restoration Work Timeline
09:22 - Sellers Heading For Exits Pricing Coming Down
09:38 - COVID Era Price Surge Recap
10:16 - Renters Cannot Cover Carry Sellers Stuck
10:31 - Advice For Buyers Entering Market Now
10:45 - Market At A Crossroads
11:07 - Oscar Musibay Conversation Recap
11:44 - Return To Normal Format Next Week
12:07 - Tribute To Surfside Families
12:27 - Path Forward Restoring Market Confidence
12:47 - Weekly Podcast Schedule Breakdown
13:51 - Miami Condo Investing Club™ Membership
14:28 - Conclusion
Episode Top 10 Takeaways
A total of 98 people died when Champlain Towers South collapsed at 1:22 am on June 24, 2021, and families of the victims ultimately received a $1 billion settlement.
More than two-thirds of the 760,000 condos across the tricounty South Florida region of Miami-Dade, Broward, and Palm Beach are Vintage units that are at least 30 years old, putting them in the same age category as Champlain Towers South on the night it fell.
Florida now requires a Structural Integrity Reserve Study (SIRS) every 10 years and a Milestone Inspection at year 30, measures that would have applied to Champlain Towers South a full decade before the building collapsed.
Special assessments to fund repairs are estimated at about $25,000 for buildings up to four stories, about $65,000 for buildings five to 14 stories and about $100,000 for buildings at least 15-stories tall.
Condo associations that cannot fund repairs internally will likely turn to private lenders charging interest rates of 9% to 11%, compared to a current mortgage rate of 6.7%.
Fannie Mae will eliminate the limited review mortgage option for condo purchases in August 2026, requiring full underwriting on every condo loan application going forward.
Building age has replaced location as the primary factor driving condo values in South Florida, a permanent shift in how buyers evaluate property in the market.
Every $2 million of condo restoration work represents about one year of labor, meaning repairs across the region’s aging condo stock will take two to three years to work through.
Buyers who purchased South Florida condos between 2021 and 2023 are now trying to sell as rental income is not covering their carrying costs, and they are selling into a market where buyers are not stepping up without steep discounts.
The Surfside collapse is described as this generation’s Hurricane Andrew, a natural disaster in August 1992 that permanently changed the construction and real estate landscape across the state of Florida.
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The Club’s mission is to foster a community that shares realtime, actionable intelligence on the latest real estate trends, emerging opportunities and trusted service providers throughout South Florida.
Whether you are a Do-It-Yourself (DIY) condo buyer or a seasoned real estate professional, the Club provides invaluable resources, including up-to-date statistics, expert analysis and access to tailored consulting services.
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We also encourage you to explore our podcast, available on all major platforms such as Apple, Spotify and YouTube, for insightful discussions and updates.
As always, our consulting, expert witness and buyside brokerage services remain available to you, building on our established reputation since 2006.
For specific information regarding discounted condo resales or bulk deals in South Florida, please visit CondoVulturesRealty.com or contact our office directly at 305.865.5859.
This information is intended for general informational purposes only and is based on research, personal experience, and interviews. It does not constitute legal advice, as we are not legal professionals. While we strive for accuracy and completeness, this information is provided on an "as is" basis, without any warranties or guarantees. As a policy, portions of this report’s language and grammar may have been assisted by AI. All data, editing and fact-checking is always completed by a professional analyst.
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