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Private bidder offering up to $120 million for Surfside condo property

APTOPIX Building Collapse Miami
Rescue personnel work in the rubble at the Champlain Towers South Condo, Friday, June 25, 2021, in Surfside. The seaside condominium building partially collapsed on Thursday. (AP Photo/Gerald Herbert)

It’s only been 48 days since the horrific Surfside condo collapsed.

As the Miami Herald reports, the bidder’s proposal was revealed during a Wednesday hearing before Miami-Dade Circuit Judge Michael Hanzman, who is overseeing the multitude of lawsuits that have been filed since the Surfside condominium collapsed in June.

A private bidder, has offered up to $120 million to purchase the Surfside oceanfront property where the collapsed building once stood.

The bidder has not been publicly identified.

A real estate broker Michael Fay told Judge Hanzman that he had a “letter of interest” from the bidder’s offering $110 million for the property but would up the offer to $120 million.

The Judge directed Fay to move as “quickly as possible” to start a “short auction process.”

“I want to compensate these victims as quick as possible,” Hanzman said.

98 people died when the condominium collapsed in Surfside.

Last month, Hanzman ruled that the victims and families affected by the collapse will receive an initial minimum compensation of $150 million, with the settlement coming from both Champlain Tower’s insurance company and the eventual sale.