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Anonymous Bidder Offers $120 Million For Surfside Condo Collapse Land

Courtesy of ZeroHedge View original post here.

An anonymous bidder has offered up to $120 million for the site of the Surfside condominium collapse in Surfside, Fla. 

The Miami Herald reports an offer was made late last week during a hearing before Circuit Judge Michael Hanzman, overseeing lawsuits filed since the condo building collapsed on June 24, killing 98 people. 

Judge Hanzman authorized negotiation of the site with an anonymous bidder.

Real estate broker Michael Fay told the judge the bidder offered $110 million for the property but is willing to pay up to $120 million. 

Here’s the latest image of the cleared site. 

Hanzman replied this is “the best news I’ve heard so far today.” He asked Fay:

“They’re a viable company [bidder] that has the wherewithal to close on a transaction of this magnitude?”

“We do believe that to be true,” Fay responded.

Hanzman directed Fay to continue with the “short auction process” as soon as possible so that the money can be used to “compensate” victims.

There are very few details on who the bidder might be or their plan for the property if the purchase goes through.

Last month, Hanzman ruled that the victims and families would receive a minimum compensation of $150 million, with the settlement from the tower’s insurance company and the final sale of the property. 

Some families hope the government would purchase the property and transform the site into a memorial/park rather than residential or commercial development.

“People lost their lives there. It’s a tragedy and should be preserved as a memorial,” Linda Hedaya, who lost her daughter in the collapse, told local news WPLG


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