The Champlain Towers South property officially hit the market on Monday, after a private bidder offered $120 million for the site earlier this month.
Judge Michael Hanzman and the court-appointed received Michael Goldberg approved the marketing of the 8777 Collins Ave. property where the 12-story oceanfront condo building collapsed on June 24th. Avison Young will oversee the marketing and sale effort of the 1.88-acre site pro bono, according to a press release by the commercial real estate firm.
The brokers Michael Fay, John Crotty, David Duckworth, Brian de la Fé and Berkley Bloodworth are working pro bono on sale efforts, which will include a live bidding process. A date for the live bidding has yet to be announced.
A $120 million offer remains on the table. The Avison Young brokers are reviewing the bid made by an undisclosed bidder in early August.
A memorial near or adjacent to the site will commemorate the lives of the 98 victims of the collapse. The location of the memorial remains under discussion, but a Miami Beach park a short walk from the Champlain Towers South site is the most popular option thus far.