Leonard Abess buys 86 acres of farmland in western Miami-Dade County

The former owner of City National Bank has established a massive portfolio of land near the western edge of the county

Miami /
Apr.April 19, 2019 02:30 PM

Leonard Abess and his new farmland (Credit: Miami University and Google Maps)

Leonard Abess, the former owner of City National Bank of Florida, bought 68 acres in western Miami-Dade County, adding to his massive portfolio of farmland.

A company tied to Abess bought the vacant land at Southwest 147th Street for $6 million, records show. Abess purchased the property from a company tied to Xavier Rosales Jr.

The property was last purchased in 1990 for $2.1 million, records show.

According to a South Florida Business Journal report from 2013, Abess has purchased over 1,100 acres of land in western Miami-Dade County. He has also owned other real estate in South Florida. In 2015, a partnership between Abess and Chariff Realty Group partners Lyle Chariff and Mauricio Zapata sold a property in the Design District at 3711 Northeast Second for $14 million.

Abess sold his shares in City National Bank of Florida for more than $900 million to the Spanish bank Caja Madrid in 2009. After selling the bank, Abess gave his current and former employees a gift of $60 million. Abess’ generosity was heralded by the press and even President Obama.

The bank is now owned by Banco de Crédito e Inversiones and is Florida’s third largest bank by assets.

Developers are increasingly eyeing the western part of Miami-Dade County as land becomes more scarce. Last year, Century Homebuilders paid $6.7 million for 11 acres of land, with plans to build 59 single-family homes in west Kendall at the southwest corner of Southwest 136th Street and 157th Avenue.


Related Articles

arrow_forward_ios
From left: Sotheby’s Daniel de la Vega and Reagan Jefferies with Brevard County
One Sotheby’s picks up Brevard County brokerage
One Sotheby’s picks up Brevard County brokerage
10181 US Highway 98 West and 39 Sandy Dunes Circle (LoopNet)
Florida Panhandle estate sold for $25M
Florida Panhandle estate sold for $25M
Netscape co-founder Jim Clark and 2000 South Ocean Boulevard in Manalapan (Getty, Sotheby's)
Manalapan compound poised to sell for Florida-record $175M
Manalapan compound poised to sell for Florida-record $175M
Hassan Whiteside and 528 Lakeview Court in Miami Beach (Getty, Joe Azar/Compass)
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
(ONE Sotheby's Realty)
Former mayor George “Bud” Scholl’s waterfront home hits market for $13.9M
Former mayor George “Bud” Scholl’s waterfront home hits market for $13.9M
Home prices notched record-shattering growth in 2021, but slowdown is likely
Home prices notched record-shattering growth in 2021, but slowdown is likely
Home prices notched record-shattering growth in 2021, but slowdown is likely
6315 11th Ave Gulfport (iStock, Heckler Realty Group, Illustration by Shea Monahan for the Real Deal)
Tampa-area home billed as first in US to be sold as an NFT
Tampa-area home billed as first in US to be sold as an NFT
Renderings of the Mainstreet at Boynton Beach mixed-use project with Pebb Enterprises’ President and CEO Ian Weiner (Pebb Enterprises)
Pebb, Banyan sell outparcel at Sprouts-anchored Boynton Beach project
Pebb, Banyan sell outparcel at Sprouts-anchored Boynton Beach project
arrow_forward_ios

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

Loading...