Site of Surfside condo collapse sold to Dubai developer

via: NBC News Channel



(NBC) – The South Florida apartment building that collapsed last June, killing 98 people, has been sold to a developer from Dubai for $120 million.

Hussain Sajwani, owner of Damac Properties, was the sole bidder for Champlain Towers South in Surfside, Florida.

The auction for the 1.8-acre property has been scheduled for this Tuesday and bids must be submitted by 5 p.m. on Friday.

Michael Fay, of Avison Young, confirmed that Sajwani bid $120 million for the site and put up a $50 million deposit.

Fay said formal acceptance of the offer would take place in court to close the sale on Monday or Tuesday.

Earlier this month, the victims’ families reached a $997 million settlement with local officials, the developers of an adjacent building and others for whom they were responsible for the apartment collapse. . Site of Surfside condo collapse sold to Dubai developer

Alley Einstein is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – The content will be deleted within 24 hours.

Related Articles

Back to top button