The Real Deal Miami

Vacant 25-acre site near Florida City sells for $6.5M

Peter Pessoa of Miami Lakes private equity group is tied to buyer

October 21, 2015 12:00PM
By Katherine Kallergis

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Southwest Miami-Dade site

Southwest Miami-Dade site

A development site near Homestead and Florida City has sold for $6.5 million, Miami-Dade County records show.

The 25.4-acre property, at Southwest 172nd Avenue and Southwest 336th Street, is zoned for residential duplexes. Fort Myers Real Estate Holdings LLC, which lists an Oxford, Florida post office box for an address, sold the land.

Florida City 70 Acres LLC purchased the property, according to the deed transfer of ownership. The LLC names Peter Pessoa as a manager in its corporate filings. Pessoa is tied to Florida Value Partners, a Miami Lakes-based private equity group. He could not be reached for comment.

The land is located southeast of the Florida Turnpike, property records show. Its last recorded sale price was for $2.5 million in 2010. Earlier this month, national homebuilder D.R. Horton sold a vacant development site also in Southwest Miami-Dade for $18 million.