Lennar pays $12.5M for Fort Lauderdale land

Miami /
Aug.August 21, 2015 12:45 PM

A chunk of vacant land in Fort Lauderdale was just sold for $12.5 million to an affiliate of the Lennar Corp., one of the largest homebuilding companies in the nation, Broward County records show. 

The deal includes six parcels that measure 2.2 acres of land altogether. They’re located at 120 Northeast Fourth Street, next to several low-rise commercial buildings and the 21-story condo tower, 315 Strada.

An affiliate of Lennar’s multifamily division was named as the buyer, according to Broward County records.

The seller was a company managed by Jim Ellis, a former Blockbuster video store executive. Ellis, who founded a development company named Ellis Diversified, bought the properties at auction for an unknown amount in 2005 after former owner Glenn B. Wright lost them in a foreclosure judgement. Before that, the last recorded sale price was for $1.65 million in 2004. 

This is the second time Ellis has sold vacant land to a prominent developer this year. In June, his company traded 1.3 acres of vacant Fort Lauderdale land to Miami Worldcenter principal Art Falcone.


Related Articles

arrow_forward_ios
Waterfront condo project approved for Fort Lauderdale’s barrier island
Waterfront condo project approved for Fort Lauderdale’s barrier island
Waterfront condo project approved for Fort Lauderdale’s barrier island
Scottie Pippen and the Fort Lauderdale house (Getty, Compass)
Slam dunk: Scottie Pippen sells waterfront Fort Lauderdale mansion for nearly $11M
Slam dunk: Scottie Pippen sells waterfront Fort Lauderdale mansion for nearly $11M
Pacaso CEO Austin Allison and one of their Miami listings (Pacaso)
Second-home startup Pacaso expands into South Florida
Second-home startup Pacaso expands into South Florida
Stuart Miller, Executive Chairman of Lennar (Getty, University of Miami)
Lennar picks up 27 acres in Homestead for $7M
Lennar picks up 27 acres in Homestead for $7M
The assemblage in Flagler Village 
Flagler Village Opportunity Zone dev site hits market for $31M
Flagler Village Opportunity Zone dev site hits market for $31M
Castro Properties President Terri Keogh and one of the Wawa's (Castro, SRS Real Estate Partners)
Fill ’er up: Two South Florida Wawa gas station convenience stores sell for a combined $22M
Fill ’er up: Two South Florida Wawa gas station convenience stores sell for a combined $22M
Related Group's Jon Paul Perez and Jorge Perez with the New River Yacht Club apartments (Related)
Related Group sells downtown Fort Lauderdale apartments for $85M
Related Group sells downtown Fort Lauderdale apartments for $85M
Grand Hotel Fort Lauderdale and Sheridan Capital's Aaron Kurlansky (Facebook via Fort Lauderdale Grand Hotel)
Fort Lauderdale hotel resolves foreclosure suit with $11M refi
Fort Lauderdale hotel resolves foreclosure suit with $11M refi
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...