Private Bidder Offers $120 Million for Site of Surfside Condo Building

An anonymous bidder has offered up to $120 million for the property that previously belonged to the Champlain Towers South, a residential building in Surfside, Florida that tragically collapsed in June, resulting in the deaths of nearly 100 people.

Circuit Judge Michael Hanzman announced in July that the owners planned to sell the property as soon as possible in order to compensate the victims. Hanzman has reportedly overseen dozens of lawsuits in regards to the building's collapse on June 24.

The $120 million offer came Wednesday morning during a hearing regarding the lawsuits, and Hanzman authorized the negotiation of an agreement with the unnamed bidder.

According to the MiamiHerald, a real estate broker working on the deal told the judge that he received a "letter of interest" from the bidder offering $110 million for the site.

The Herald reported the conversation between Hanzman and Michael Fay, who was appointed to work on the real estate deal.

"They're willing to go to $120 million," said Fay.

"That's the best news I've heard so far today," Hanzman said. "They're a viable company that has the wherewithal to close on a transaction of this magnitude?"

"We do believe that to be true," Fay said.

Hanzman reiterated that the compensation of the victims would have to take priority in selling the property.

The auction of the land would be a starting point for the city of Surfside to rebuild, but the debate regarding what the land would become has been a topic of concern for lawyers, survivors, and families of the victims.

The Herald reported that many people wished the land would be bought by the government so that it could be turned into a park or memorial, as the collapse was deemed one of the worst building failures in American history.

However, Manny Kadre, a lawyer serving as a liaison between the court and elected leaders, said Wednesday that it is "very highly unlikely" that a government agency would purchase the land.

"The property being monetized by the government is a very, very unlikely scenario," Kadre said.

Miami Beach Mayor Dan Gelber announced mid-July that he planned to dedicate a 28-acre space for a memorial near North Beach Oceanside Park.

"So many in my community knew or were one degree of separation from the victims of this unthinkable tragedy," Gelber wrote in a letter to Hanzman. "While we have proudly supported the efforts at ground zero with our own police and fire rescue personnel, it would be our great honor to also help establish a dignified memorial that would appropriately honor the blessed memories of those who perished."

Newsweek reached out to the Miami Building Department for additional comment but did not hear back in time for publication.

Investigation Continues At Site Of Surfside Building
An anonymous bidder has offered up to $120 million for the property of the Surfside building that had collapsed in June. In this aerial view, the cleared lot that was where the collapsed 12-story Champlain Towers South condo building once stood on July 31, 2021 in Surfside, Florida. Joe Raedle/Getty Images