Michael Fay and John Crotty

Fay and Crotty may be best known for their role marketing the court-ordered sale of the Surfside collapse site, where 98 people died in the 2021 tragedy. One bidder emerged: Damac Properties, a Dubai-based firm that paid $120 million for the property a year after the collapse.

The duo is known for tackling properties in turmoil. In 2025, they brokered the sale of a Miami trailer park tied to an alleged $50 million EB-5 visa fraud to Adam Neumann’s Flow for $71 million.

Fay has brokered $21 billion in deals over 40-plus years, and Crotty has done $5 billion in deals over two decades, primarily in Florida.

Not all pan out. In 2023, Fay and Crotty were tapped to sell Genting Group’s downtown Miami portfolio, but a $1.2 billion sale fell apart and Genting put the sale process on hold.

Fay, the adopted son of late federal judge Peter Thorp Fay, co-founded Wood Fay Real Estate in 1989. He sold distressed assets during the Savings & Loan crisis and had a front-row seat to the fallout during Miami’s “Cocaine Cowboys” era.

Miami Heat fans will likely recognize Crotty’s voice. A former NBA player, Crotty has been a Miami Heat commentator for years. He entered real estate under Fay’s mentorship.

— Lidia Dinkova