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Miami Waterfront 'Zombie Condo' Dispute Ends With $50 Million Settlement

A three-year legal standoff over the redevelopment of the Biscayne 21 condominium in Miami has concluded. The developer, Two Roads Development, has reached a settlement with holdout owners, clearing the way for a luxury tower.

Miami Waterfront 'Zombie Condo' Dispute Ends With $50 Million Settlement

A protracted three-year legal battle over the future of a waterfront condominium in Miami’s Edgewater neighborhood has reached a resolution, paving the way for the demolition of the aging structure and the construction of a high-rise luxury project. The dispute, which centered on the rights of individual unit owners versus the interests of a developer seeking to redevelop the site, concluded with an out-of-court settlement that effectively ends the standoff.

Two Roads Development, which had previously acquired the vast majority of the 192 units within the 1964-built Biscayne 21, reached an agreement to purchase the remaining properties from a small group of holdout owners. Reports indicate the final settlement payout for these remaining units reached approximately $50 million, granting the developer full control over the 3.5-acre site along Biscayne Bay.

The Rise of the 'Zombie Condo'

The conflict began in 2022 when Two Roads Development initiated a plan to replace the 13-story building with a 55-story luxury tower. While the developer successfully secured 183 of the building's units, a small contingent of residents refused to sell their homes. This resistance triggered a complex legal struggle over the building’s condominium declaration, which originally mandated unanimous approval to terminate the association.