SURFSIDE, Fla. – For the hole in the surfside skyline, and those with profound loss at the site where the Champlain Towers South once stood, a billion dollar all-but-final settlement was announced on Wednesday.
“We all know there is no amount of money in the world that can possibly compensate for all the loos we’ve heard about in this case,” said Judge Michael Hanzman.
Hanzman, who has been overseeing the complicated court filings, aimed to get that closure by the June 24, the one-year mark of the catastrophic condo collapse.
They did get the deal done, and with a month to go.
“The result that has been achieved in this case, and the speed at which it was achieved in, in this court’s view, is beyond extraordinary,” said Hanzman.
Back at the surfside site, those still drawn to peek through the fence learned the property will be up for auction on May 24, bidders must qualify four days earlier.
A Dubai-based developer has put up the deposit for the $120 million base sale.
The team marketing the site globally to potential bidders told Local 10 News the shadow of the catastrophe has kept away some potential bidders, but there is great interest in the rare beachside land.
“Some developers that we’ve spoken with are going to do less units but bigger units,” said Michael Fay who is handling auction logistics. “We’ve got other groups that have decided to do more of a luxury high end.”