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

Asking price is nearly $3.2 million per acre

TRD MIAMI /
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.


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