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Damac Properties Acquires Surfside Condo On Collins Avenue For $120M

8777 Collins Avenue
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This property located in FL was sold for $120,000,000 over 2 years ago. The brokers of the deal were Vivian Dimond, Jeff Cohen, and Michael Fay

Dubai-based DAMAC Properties, led by billionaire developer Hussain Sajwani, has been revealed as the stalking horse bidder of the site of the former Champlain Towers South in Surfside, located at 8777 Collins Avenue. The tragic collapse of the tower in June of this year has led to a subsequent sale of the property. The asset involved in the transaction is a condominium unit.

Summary of transaction details:

DAMAC Properties, represented by billionaire developer Hussain Sajwani, emerged as the successful bidder for the former Champlain Towers South property. The Dubai-based company's acquisition of this high-profile site demonstrates their strategic investment approach. Assisting the buyer in the transaction were brokers Jeff Cohen and Vivian Dimond from Brown Harris Stevens.

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Deals
  • Location
    8777 Collins Avenue8777 Collins Avenue
  • Sale Price
    $120,000,000$120,000,000
    $6,666 PPSF$6,666 PPSF
  • Area
    18,000 SF18,000 SF
  • Parties
    3 Brokers, 2 Agencies3 Brokers, 2 Agencies

Agents

Vivian Dimond

Vivian Dimond

Deals1
Sold$120M

Michael Fay

Michael Fay

Deals38
Sold$1.1B

Agencies

Brown Harris Stevens

Brown Harris Stevens

Agency
Deals273
Volume$2.7B

Avison Young

Avison Young

Agency
Deals808
Volume$17B

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Deal Summary

IN CONTRACT IMAGE: Hussain Sajwani DATE: 09/24/2021 ADDRESS: 8777 Collins Avenue MARKET: Surfside ASSET TYPE: Condo BUYER: Damac Properties - Hussain Sajwani BROKERS: Jeff Cohen & Vivian Dimond - Brown Harris Stevens SALE PRICE: $120,000,000 NOTE: Dubai-based DAMAC Properties, led by billionaire developer Hussain Sajwani, has been revealed as the staking horse bidder of the site of the former Champlain Towers South which tragically collapsed in June of this year

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8777 Collins Avenue

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