Auto magnate sells a Homestead dealership for $19M

Miami /
Oct.October 10, 2019 11:45 AM
1075 Southeast Sixth Avenue and Arnaldo Bomnin (Credit: Google Maps)

1075 Southeast Sixth Avenue and Arnaldo Bomnin (Credit: Google Maps)

Auto magnate Terry Taylor sold a new dealership in Homestead to Bomnin Auto Group for $19 million.

Property records show TT of Homestead Inc. sold the former Keith Pierson Chevrolet Superstore at 1075 Southeast Sixth Avenue to Bomnin Automotive CC. It’s now called Bomnin Chevrolet Homestead.

Taylor, who owns a penthouse at Porsche Design Tower, is one of the biggest car dealers in the country. Last year, he paid nearly $48 million for a dealership in Royal Palm Beach.

Taylor’s company paid $960,000 for the 8.6-acre property in 2016, records show. The 60,870-square-foot building was completed in 2018.

Bomnin Auto Group, led by owner Arnaldo Bomnin, has been expanding in South Florida. The company owns Bomnin Chevrolet Dadeland, Grand Prize Chevrolet and Bomnin Chevrolet West Kendall. Last year, the company paid $25 million for the former Toys “R” Us building next to the Dadeland dealership, giving Bomnin an additional 4 acres of land.

Homebuilders like Lennar Corp. are continuing to develop large swaths of land in Homestead. In August, Lennar paid $22.1 million for roughly 85 acres west of Southwest 152nd Avenue. That property is zoned for 770 residences.


Related Articles

arrow_forward_ios
Lennar's Stuart Miller and 28600 Southwest 132nd Avenue (Google Maps)

Lennar spends $29M on Homestead mobile home park, plans new community

Lennar spends $29M on Homestead mobile home park, plans new community
(iStock, Miami-Dade County)

Florida voters approve “Save Our Homes” extension, property tax discount for widows of veterans

Florida voters approve “Save Our Homes” extension, property tax discount for widows of veterans
Itai Kathein and Jay Adair with the distribution center on the property (Credit: Google Maps)

Sold! Online auto auctioneer pays $35M for Homestead land

Sold! Online auto auctioneer pays $35M for Homestead land
Starwood CEO Barry Sternlicht, InTown Suites CEO Ash Kapur and 1071 NE 28th Avenue in Homestead (Getty, Google Maps)

Starwood scores $265M refi for portfolio of InTown, Uptown hotels

Starwood scores $265M refi for portfolio of InTown, Uptown hotels
Rendering of the project

Amazon’s plan for massive warehouse heats up Homestead industrial market

Amazon’s plan for massive warehouse heats up Homestead industrial market
27359 South Dixie Highway and Longpoint Realty Managing and Founding Partner Dwight Angelini (Google Maps)

Longpoint buys Fresco Y Mas-anchored center in Naranja

Longpoint buys Fresco Y Mas-anchored center in Naranja
Lennar's Stuart Miller

Homestead homeowners association sues Lennar, alleges shoddy construction

Homestead homeowners association sues Lennar, alleges shoddy construction
Johan Andreassen and Bjorn-Vegard Lovik with the facility

Homestead salmon farm reels in $210M construction loan

Homestead salmon farm reels in $210M construction loan
arrow_forward_ios

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

Loading...