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Champlain tower south for sale6/17/2023 AP Proceeds from the sale will go to families of victims of the collapse. The collapse of the Champlain Towers South killed 98 people last June. “While nothing can take away the pain or suffering, we are happy that we are moving forward with this successful purchase to help bring closure for everyone,” Michael Fay, of Avison Young, told The Herald. Those parties agreed to a $997 million settlement with insurers last week, according to The Wall Street Journal. Proceeds from the sale will go toward compensation for relatives of collapse victims and those who owned apartments in the building. The 1.8 acre piece of land was once home to the 12-story Champlain Towers South building that crumbled last June and claimed nearly 100 lives.Īccording to The Herald, DAMAC has previously indicated that it plans to build a luxury residential building on the plot. Hussain Sajwani, of DAMAC Properties, was the only bidder for the parcel before a Friday deadline, according to the outlet. The site of the Surfside condo collapse that killed 98 people last year will be sold to a Dubai developer for $120 million, according to The Miami Herald. Officials finally identify ‘voice in the rubble’ in Surfside condo collapse Other possible factors include sea level rise caused by climate change and damage caused by salt water intrusion.164-unit Miami Beach condo evacuated over structural concernsĪ year on, Surfside remembers 98 victims of condo collapseįlorida condo collapse settlement reached, tops $1 billion "I just don't want to cause these families any more stress."Ĭhamplain Towers South had a long history of maintenance problems and questions have been raised about the quality of its original construction and inspections in the early 1980s. Hanzman has been conducting a series of hearings on individual claims by collapse victims about the amount of compensation for a family member's death, which he recently described as harrowing. SEE ALSO: Fantasy 5 ticket sold in Palm Beach County worth $160,000+Ī billionaire developer from Dubai is purchasing the 1.8-acre beachside site for $120 million, contributing to the settlement. None of the parties admit any wrongdoing. The money comes from 37 different sources, including insurance companies, engineering firms and a luxury condominium whose recent construction next door is suspected of contributing to structural damage of Champlain Towers South. The $96 million is for loss of property, including the condo units themselves. The judge in June approved a $1 billion fund for people who lost family members in the collapse, as well as those who suffered physical or mental injuries. The tax amounts vary based on a unit's size and where it was located. The judge said that Goldberg, as the receiver, "has had actual possession of the property throughout 2022" rather than the unit owners. But until Hanzman's ruling, there was no effort to forgive the 2022 tax bills. I think we're getting there."Ĭhamplain Towers property taxes for 2021 were waived last year by the state Legislature and Gov. "Everybody wants to move on and go to the next chapter. It's still a struggle," Cytrynbaum said in an interview. Oren Cytrynbaum, whose family owned two units in the building, said he was grateful the judge dealt with the issue quickly so owners would be spared further expense - even if it was a few thousand dollars each. The judge's order came just after the Miami Herald published a story Monday about the unresolved tax matter. The issue arose after the court-appointed receiver in the case, attorney Michael Goldberg, told unit owners in a letter they would be liable for the taxes just as if their condos had been sold. Instead, the taxes - a little under $800,000 combined, county officials say - should be paid from excess funds available from the $120 million sale of the land formerly occupied by the 12-story building. The new view of the land that once housed the Champlain Tower South is striking because of its emptiness. Hanzman said the taxes should not be paid by the owners. SEE ALSO: Postal Service offering rewards of up to $50,000 in 3 armed robberies The building collapsed June 24, 2021, killing 98 people. Miami-Dade Circuit Judge Michael Hanzman said in a brief ruling that the 2022 tax payments should not be deducted from the $96 million previously earmarked to compensate owners of the 136 units of Champlain Towers South in Surfside, Florida.
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