Trump Partner Buys Surfside Condo Collapse Site For $120M: Report

Miami FL

23 May, 2022

6:51 PM

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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. 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. 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.