ON THE MARKET

Unnamed Bidder Offers Up to $120 Million for Surfside Collapse Site

The disclosure was made in a court hearing Wednesday.

An unnamed bidder has offered up to $120 million to buy the site of the Surfside, Florida, building collapse, according to the Miami Herald. The disclosure was made in a Wednesday court hearing discussing lawsuits filed over the June 24 tragedy, coming after conversations surrounding a government purchase seem to have fizzled. “That’s the best news I’ve heard so far today,” Judge Michael Hanzman said when he heard the news, ordering attorney Michael Fay, who was appointed to manage the property sale, to move quickly to get the deal negotiated. “I want to compensate these victims as soon as possible,” he said. The bidder’s offer marks the starting point for an auction, which could lead to a new condo development on the land. It's unknown what will happen to the existing financial ties to the building, though a liaison between the government and court believe officials could forgive mortgages for some residents.