The Real Deal Miami

Jaxi Builders sells 20 acres in Homestead

Vacant land, zoned for townhouses, sold for nearly four times its last sale price

June 19, 2015 03:45PM
By Katherine Kallergis

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eduardo caballero vice president of jaxi builders, and the vacant land Jaxi sold in Homestead

Eduardo Caballero, vice president of Jaxi Builders, and the vacant land Jaxi sold in Homestead

Jaxi Builders unloaded a 20-acre vacant plot of land in Homestead for $3.5 million, according to a deed filed with Miami-Dade County records on Thursday.

Cedar at Keys Gate, an LLC tied to Miami-based Jaxi Builders, sold the parcel bounded by Southwest 336 Street and Southwest 340th Street to the north and south, and Southwest 170th Avenue and Southwest 169th Avenue to the west and east, to Miami Beach-based Newport Development Partners. Newport lists Alex Meruelo on its corporate records.

The property is zoned for townhouses, according to Miami-Dade property records. The Jaxi affiliate bought the site out of foreclosure for $900,000 in December 2011. Its highest sale price was in May 2004 for $2.1 million, records show.

Jaxi Builders has worked with Codina Partners, Starwood Urban Development, City National Bank and Mercy Hospital, among other companies, according to its website.

The general contracting construction firm is working on projects such as InTown and Merrick Manor. Astor Companies is developing InTown, a mixed-use project that will house 312 condos between two 14-story towers, along with eight townhomes and 18,000 square feet of ground-floor retail.