Avison Young on Monday officially began marketing the site where the Champlain Towers South once stood in Surfside, Florida. The condominium collapsed June 24, killing 98, and a judge has ordered the site to be sold to compensate survivors and families.
A live bidding process will ultimately be held in a Miami courtroom, the firm announced Monday.
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The Avison Young team that is handling the sale is working pro bono, representing a court-appointed receiver. The brokerage team includes Michael T. Fay, John K. Crotty, David Duckworth, Brian de la Fé and Berkley K. Bloodworth.
The oceanfront site at 8777 Collins Ave. spans 1.88 acres (81,886 SF) and includes 200 linear feet of direct beach frontage. It is zoned as high-density residential and could accommodate a 12-story condo or hotel tower. Comparable sales in the area have fetched $2,500 per SF, according to the offering documents.
A $120M contract has already been submitted by an undisclosed bidder, but the team will consider all offers. Any deal must ultimately be approved by a judge overseeing disposition of the property.
Stakeholders have expressed a desire for some kind of memorial to be incorporated at the site, and talks around that are ongoing, according to an Avison Young spokesperson.
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