Surfside building collapse: Judge agrees to increase property loss payment
Circuit Judge Michael Hanzman agreed Tuesday to increase the settlement of the Champlain Towers South property owners who did not suffer a loss of life during the June 24 collapse in Surfside.
The court settlement increased from $83 million to $96 million. The funds come from the $120 million that Hussain Sajwani, of Dubai-based DAMAC Properties, bid for the 1.8-acre site where a section of the 12-story building collapsed.
“This is an outstanding result for the property owners,” Hanzman said in court.
The settlement in a class-action lawsuit by the families of the 98 killed is nearly $1 billion.
The National Institute of Standards and Technology’s investigation is ongoing.