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Nearly $1 billion settlement announced in deadly Surfside condo collapse

Joe Raedle/Getty Images, FILE

(MIAMI) — A nearly $1 billion settlement in last year’s shocking collapse of a Miami Beach condo building was unexpectedly announced during a routine status conference in a Florida courtroom Wednesday afternoon.

Lawyers involved in the class-action lawsuit representing tenants from the oceanfront building in Surfside announced a $997 million settlement had been worked out.

Upon the news, Miami-Dade Circuit Judge Michael Hanzman said he was “speechless.”

“That’s incredible news,” the judge said.

“I’m shocked by this result — I think it’s fantastic,” the judge told the courtroom. “This is a recovery that is far in excess of what I had anticipated.”

Litigation stemming from the catastrophic collapse in June 2021, which killed 98 people, had been moving slowly as the first-anniversary approaches.

ABC News’ Jared Kofsky contributed to this report.

This is a developing story. Please check back for updates.

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