120 Million Dollars Has Been Offered For The Site of The Surfside Miami Tragedy

A private bidder offered up to $120 million for the purchase of the 7,600-square-meter land in Surfside, Miami-Dade, where the building which collapsed on June 24 resulting in 98 people dead, was located.

The offer was made public Wednesday at a hearing on multiple lawsuits filed in court against the condo association, 12-story Champlain Towers South, which had structural problems since at least 2018, according to an engineering firm.

The future of the land located on the beachfront is a major issue for the judge in charge of supervising dozens of lawsuits, Michael Hanzman, who from the beginning has been in favor of a quick sale of the site to compensate the victims of this tragedy.

Hanzman urged the real estate agent designated to handle the potential agreements to begin negotiating the sale of the property with this buyer, although the name of the company willing to pay between 110 and 120 million dollars for the land did not become public.

However, the Surfside city council, a town north of Miami Beach, needs confirmation from the zoning department to proceed with the sale, according to Michael Fay, the commercial agent appointed by the court for the negotiations, according to the website of the real estate business, The Real Deal.

“We are going to need confirmation of zoning for any buyer. Zoning is a key component of this sale to anyone,” said Fay, who runs real estate services firm Avison Young. Hanzman authorized Fay to move “as quickly as possible” to arrive at a “short auction.”

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“I want to compensate the victims as soon as possible,” the magistrate recalled.

Michael Goldberg, the receiver appointed to oversee the financial affairs of the building association in the litigation, sent a letter to the city on July 30 requesting information on zoning.

The city attorney said in court, according to The Real Deal, that the request addresses complex issues such as city agreements and acquired rights.

In the meeting with the judge, Fay did not reveal the name of the company interested in acquiring the land for the aforementioned amount.

The bidder would not automatically obtain possession of the property, but could be the starting point of an auction in which other companies bid for the property, said the Miami Herald.

Some of the affected families and owners hoped that the state could acquire the land to turn it into a park or memorial for the victims, rather than a new residential or commercial development project, but it is something that seems “very unlikely,” he said. an attorney who acts as a liaison between the court and city officials, the Miami Herald added.

The building was in the middle of a recertification process, a study of structures and electricity required by law as a 40-year-old building, when part of it collapsed in the middle of the night and at times when its occupants were sleeping.

The rest of the structure was demolished on July 4 with explosive charges to facilitate the discovery of the bodies of the victims and prevent it from falling on rescuers.

Three years earlier, a report by an engineering firm warned of serious structural problems in the building that deserved urgent attention.

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