Whenever a condo owner drags an item in a condo, for everyone else in the condo, it spawns a fake version of the item with no collisions in the middle of the beach. It isn’t visible to the host and disappears once the item is no longer being dragged.
The circled grill is the real one, while the one floating in the air is the fake one.
I noticed this a two updates ago and forgot to report it. I can also confirm it makes a ghost item there. You can fly through the object, but not land on it.
…I don’t know why, but at first I thought it was a sentry from TF2
wait why did I point this out
I reported something similar, if you’re the host and drag something in the inventory then the XYZ arrows will show up in the same place in the air. Looks like it’s the 0,0,0 coordinates I’m guessing.