Judge: Surfside Collapse Ownership Soared to $96M

People who owned condos in the Florida building that collapsed nearly a year ago but suffered no fatalities will split at least $96 million from a court settlement, a judge said Tuesday.

The original amount for property owners — as opposed to families of the 98 victims of the June 24 collapse of the Champlain Towers South building in Surfside — was set at $83 million, but District Judge Michael Hanzman agreed at a hearing that the higher Amount is reasonable.

“What’s important to me right now is to close this case and get money into the hands of the victims,” ​​Hanzman said, noting that under Florida law condo owners could be ordered to pay for the loss of the building.

“This is an excellent result for the property owners,” the judge said.

The families who lost loved ones in the collapse will share more than $1 billion, lawyers said Tuesday. Full details of that settlement are expected to be available by Friday, followed by a hearing for any objections. A billionaire developer from Dubai will buy the 1.8 hectare site for $120 million.