Dunn family seeks to sell remaining Miami Lakes cow land: $30M

Asking price is nearly $3.2 million per acre

Aug.August 10, 2016 10:30 AM

The Dunn family wants to sell a 9.5-acre chunk of Miami Lakes development land left over from its deal with Lennar Homes, with an asking price of $30.1 million.

In January, a company affiliated with Betty Dunn sold 143 of her 155 acres along Northwest 87th Avenue and Northwest 154th Street — mostly made up of a large lake — to Lennar for $74.4 million.

The homebuilder now plans to construct a new gated community there called Satori, and Dunn hopes to sell her final piece for nearly $3.2 million per acre. Even subtracting the 67 acres of lake, that asking price is considerably higher than the $978,947 per acre paid by Lennar.

Lennar’s plans for Satori include a mix of 238 townhouses and 267 single-family homes.

Mark Metten of Foreclosure Authority Realty has the listing, according to CoStar Group. A request for comment to Dunn made through Metten was not immediately returned.

Dunn had operated her Miami Lakes land as a cow pasture for years, which is a common maneuver in Florida known as the “rent-a-cow” that gives landowners tax breaks for having cattle on their properties.

Also in January, Dunn sold off an additional 130 acres to Lennar less than a mile from the Miami Lakes land. That deal came in at $41 million.

Related Articles

Arden home community and Stuart Miller

Lennar picks up 50 lots in western Palm Beach County

Lennar's Stuart Miller and a rendering of a Sierra Ranch home

Lennar closes on 89-acre Davie site for single-family home community

Daily Digest Miami

Here are the homes of Miami Heat’s elite, developer Steve Witkoff revealed as buyer of Sunset Islands home: Daily digest

Lennar at Sorrento at Venetian Parc clubhouse, Lennar Vice Chairman Stuart Miller

HOA buys clubhouse in southwest Miami-Dade from Lennar

From left: Alejandro Arias, Keren Marti, Avra Jain, Carolina Herrera, Luis Gonzalez, and Melissa Rose (Credit: Brett Hufziger Photography, Google Maps)

New frontier? Developers look to Hialeah

Stuart Miller and Southwest 152nd Avenue in Homestead

Lennar picks up land assemblage in Homestead

Lennar Corp. Executive Chairman Stuart Miller and an aerial view of 10350 Southwest 232nd Street (Credit: Google Maps)

Lennar buys 58 acres near Cutler Bay amid land buying spree

Arbor Parc and BTI Partners CEO Noah Breakstone

Lennar buys 309 townhome sites in Palm Beach County