Bidder offers up to $120 million for collapsed condo site

US & World

This aerial photo shows a wing of the 12-story oceanfront Champlain Towers South Condo that collapsed early Thursday, June 24, 2021 in Surfside, Fla. (Amy Beth Bennett/South Florida Sun-Sentinel via AP)

MIAMI (AP) — A private bidder is willing to offering up to $120 million to purchase the Miami-area oceanfront property where the collapsed Champlain Towers South building once stood.

The offer was revealed Wednesday during a hearing before Circuit Judge Michael Hanzman. He’s overseeing the dozens of lawsuits that have been filed since the condominium collapsed June 24, killing 98 people.

The judge authorized negotiation of an agreement with the bidder, who wasn’t publicly identified.

A real estate broker told the judge he had a “letter of interest” from the bidder offering $110 million.

He said the bidder is willing to offer up to $120 million.

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