Avi Stern’s Mizner Development launches sales of Boca homes project
Homes start at $1.6M
Mizner Development launched sales of a boutique single-family home project in Boca Raton.
The 10-unit development, called Enclave at Boca Harbour, is planned for the property at 5801 and 5805 Northeast Seventh Avenue and 690 Jeffery Street. Douglas Elliman agent Katia Reisler and Tangent Realty Corp. agent Jared Niles are co-listing the units, according to the project’s website.
Property records show an affiliate of Mizner Development, led by Avi Stern, paid close to $2.2 million for the assemblage of land in early 2020.
Stern was allegedly one of three real estate investors involved in a major scheme to rig online public foreclosure auctions between 2012 and 2015. He pleaded guilty in 2018 to felony charges of bid rigging tied to the property auctions in Palm Beach County, according to the Department of Justice. Stern was sentenced to a three-year probation, which he began in February 2019, along with a $32,800 fine and $160,000 in restitution. Court records filed earlier this year show his probation period was terminated early.
Stern is also CEO of MIA Real Holdings LLC, his LinkedIn shows.
His Boca Raton houses range in price from nearly $1.6 million to $1.9 million, and from 2,516 square feet to 3,232 square feet. They will have two-car garages and pools, according to the website.
Construction is expected to begin in January and be completed by December of next year, according to a source familiar with the project. The site is across the street from the waterfront, where canals connect to the Intracoastal Waterway.
Boca Raton is in the midst of major development. Condo sales grew 19 percent in the third quarter of this year, to 1,027 closings, according to a Douglas Elliman report of Boca Raton and Highland Beach residential sales. Single-family home sales, meanwhile, fell by nearly 16 percent, to 737 closings in the third quarter.
GL Homes recently closed on the acquisition of the Boca Raton Municipal Golf Course, a 190-acre, city-owned golf course where it plans to build more than 500 homes.
An earlier version incorrectly described the type of homes sold.