Miami developers are scrambling to acquire aging waterfront condominium buildings, demolish them and build luxury residential towers in their place, a strategy that has been gaining attention since a 12-story building in Surfside partially collapsed last summer, killing 98 people.
Owners of at least eight waterfront condo buildings in the Miami area are in sales discussions with Related Group, Starwood Capital Group or other developers, according to real-estate brokers, developers and owners.
