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Randall Bell
March 1, 2022
Page 16

EMERGING DEAL WOULD SPLIT $83M FOR CONDO COLLAPSE LOSSES

Randall Bell
March 1, 2022
Page 16

Gerald Herbert / AP

On February 11th, a tentative deal was announced paying $38 million to people that suffered economic loss in the June 24th, 2020 collapse of a 12-story Champlain Towers South condominium in Surfside, Florida. 98 individuals were killed, whatever amounts that are above the property settlement figure would be set aside for those who lost loved ones in the collapse.

A written agreement is set to be ready to file by February 17th. The largest lawsuit was filed on behalf of the Champlain Towers South victims and family members stating that work on the adjacent property damaged and destabilized Champlain Towers. Champlain Towers was in the process of a 40-year structural review when it collapsed without warning.

Tagged: #realestateappraisal, #complexvaluation, #realestatedamage

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