An anonymous bidder has offered up to $120m for the site of the Florida condo collapse.
The potential buyer of the Surfside site was revealed at a court hearing into the future of the site where the Champlain Towers South collapsed killing 98 residents.
Mr Faye did not tell the judge the name of the potential buyer but said that they were willing to spend between $110m and $120m for the site.
“That’s the best news I’ve heard so far today,” Judge Michael Hanzman said, according to The Miami Herald.
He urged Mr Faye to quickly wrap up a deal on the 1.9-acres of land.
“I want to compensate these victims as soon as possible,” the judge added, saying that he expected a short auction process to be carried out and that if no-one outbid the interested party they should get the land.
The Town of Surfside have been asked to provide zoning information for the site.
Some of the condo owners have expressed a desire to rebuild on the site, while others have said it should become a memorial to the victims.
The northeast portion of the 12-story tower collapsed in the early hours of 24 June, with the rest of the building brought down in a controlled demolition on 4 July.
The site of the tragic incident was eventually cleared with rubble moved to a Miami warehouse for inspection.
Rescuers went through 14,000 tons of concrete and rebar looking for survivors before the mission was eventually called complete.
But despite their around-the-clock efforts no-one was found alive in the remains of the tower after the first few hours of the search operation.
Officials say that there is no evidence anyone found dead survived the initial collapse.
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