Lennar buys 58 acres near Cutler Bay amid land buying spree

The homebuilder has been aggressively buying property in the southern part of the county

TRD MIAMI /
Jun.June 06, 2019 12:30 PM
Lennar Corp. Executive Chairman Stuart Miller and an aerial view of 10350 Southwest 232nd Street (Credit: Google Maps)

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

Lennar Corp. paid $19.5 million for a 58-acre lot near Cutler Bay, as the homebuilder continues to buy property in south Miami-Dade County.

The Miami-based homebuilder bought the property tucked behind Southwest 104th Avenue for $336,206 per acre. The seller was H.R. Realty and Investments of Coral Gables, records show.

The property does not have an exact address, and its primary use is for lime groves, but it is zoned for multifamily, according to records. The property sits right off the Florida Turnpike and behind a community called the Enclave at Black Point Marina. Most of the site is a lake called Turkey Vulture Lake.

Lennar is aggressively buying properties in south Miami-Dade County as land becomes more scarce. Rising home and land prices have forced families and potential homeowners to move further south to find affordable homes.

In April 2018, Lennar paid $4.5 million for 32.7 acres of farmland near Zoo Miami. The company also spent $10.75 million in 2017 for about 77 acres in Homestead, just west of the Turnpike along Mowry Drive and Southwest 152nd Avenue.


Related Articles

arrow_forward_ios
Stuart Miller, Ken Griffin and 11 and 12 Star Island Drive (Credit: Google Maps)

Billionaire hedge funder Ken Griffin pays $37M for Star Island property

Billionaire hedge funder Ken Griffin pays $37M for Star Island property
Lennar's Stuart Miller

Homestead homeowners association sues Lennar, alleges shoddy construction

Homestead homeowners association sues Lennar, alleges shoddy construction
Dr. Walter Okoroanyanwu, Angelo Bianco and Jim Carr 

Doctor’s orders: developers increasingly tap medical experts, amenities

Doctor’s orders: developers increasingly tap medical experts, amenities
Southland Mall in Cutler Bay, Hazem Ben-Gacem, Investcorp’s Co-Chief Executive Officer (Credit: Google Maps)

Wells Fargo says mismanagement by Southland Mall owner contributed to downfall

Wells Fargo says mismanagement by Southland Mall owner contributed to downfall
Southland Mall in Cutler Bay

Wells Fargo seeks to foreclose on Southland Mall in Cutler Bay

Wells Fargo seeks to foreclose on Southland Mall in Cutler Bay
GL Homes President Misha Ezratti (Credit: LILA PHOTO via GL Homes)

GL Homes offers $22M for development rights in Agricultural Reserve

GL Homes offers $22M for development rights in Agricultural Reserve
Jamie Dimon of JPMorgan, Southland Mall and Investcorp co-CEOs Rishi Kapoor (top) and Hazem Ben-Gacem (Credit: Getty; Southland; Investcorp)

Investcorp wants out of struggling Southland Mall

Investcorp wants out of struggling Southland Mall
Stephen Gravett, CEO of Kennedy Homes and a rendering of Trevi Isle home community

Kennedy Homes sells Palm Beach Gardens community amid allegations of mismanagement

Kennedy Homes sells Palm Beach Gardens community amid allegations of mismanagement
arrow_forward_ios

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

Loading...