Other than Manhattan and the Pacific Northwest, the real estate market is in free-fall.

Southpoint is not immune to these macroeconomic forces. However, Southpoint's situation is made worse by the Board’s failure to replace the lobby in less than one year, the huge assessments, the liens filed against Southpoint, and the simple fact that the building has the worst reputation on the Galt Ocean Mile. This is due to Southpoint's repeated violations of Florida law, as well as the failure of Southpoint's owners to respect the law, and take appropriate action.

Until the problems at Southpoint are corrected, there will be no rental or resale market at Southpoint.