Surfside Collapse Site To Be Sold Via Live Auction On May 24th

Michael T. Fay of Avison Young, who has been appointed by the courts and court-appointed receiver to manage the disposition of the Champlain Towers South site, will conduct the live auction for the property on Tuesday, May 24, 2022, at 10 a.m. in judge’s chambers.

Bidding deposits and qualifications must be submitted to the court-appointed receiver, Michael Goldberg, no later than 5 p.m. on Friday, May 20, 2022.

All prospective bidders are encouraged to participate with offers above $120 million, which is the beginning bidding point set by the initial stalking horse bid. The stalking horse bidder is extremely motivated and recently raised their deposit to $50 million.

“We are focused on securing the highest and best possible value to owners, survivors, and families of the Surfside collapse victims,” said Fay.

The Surfside land at 8777 Collins Avenue spans ±1.88 acres or ±81,886 square feet. An auction flyer, offering memorandum, and a report outlining interest and activity related to the property are available for download via this link.

 

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