Community Corner
Trump Partner Buys Surfside Condo Collapse Site For $120M: Report
A Dubai-based developer and Trump business partner has bought the site of the collapsed Surfside condo building for $120M, reports said.
SURFSIDE, FL — The site of Champlain Towers South, a 12-story condo tower that collapsed in Surfside last summer, has sold for $120 million to Dubai developer DAMAC Properties.
By the end of the recovery effort following the building’s July 24, 2021, collapse, 98 people were dead.
DAMAC’s owner, Hussain Sajwani, is a business partner of former President Donald Trump, according to Business Insider. Trump’s two Dubai golf courses are among the company’s developments.
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Related Story: Surfside Condo Collapse Victims To Receive $997M Settlement: Report
The developer placed the only bid on the beachfront parcel at 8777 Collins Ave. in a public auction, the Miami Herald reported. The company placed its offer in September. The deadline to submit an offer property was Friday at 5 p.m.
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The sale’s proceeds will be used as part of a settlement made with victims of the collapse. Condo owners and families of those who died in the collapse reached a $997 million settlement with insurers last week.
A spokesperson for DAMAC told the Herald that Sajwani plans to build an ultra-luxury condo tower at the site.
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