Miami-based home builder Lennar Corp. paid $4.5 million for 32.7 acres of farmland in southern Miami-Dade County near Zoo Miami.
Lennar paid $137,614 per acre for the land, which has county approval for construction of 85 “estate” houses with 3,001 to 5,000 square feet of space.
The property’s zoning designation is estate residential, which requires a minimum lot size of 15,000 square feet.
Quail Roost Realty Management, managed by Judith M. King in Denver, sold the property at 18870 Southwest 134 Street.
It was the latest in a series of Miami-Dade property acquisitions by Lennar over the past year and a half.
In October, the company paid $40 million for a 181-acre property in northern Miami-Dade at 20898 San Simeon Way.
Last summer, Lennar paid $10.75 million for about 77 acres in Homestead just west of Florida’s Turnpike along Mowry Drive and Southwest 152 Avenue.
Near the end of 2016, the home builder paid $51 million for more than 100 acres in northern Miami-Dade near the site of the planned American Dream mega mall. [South Florida Business Journal] – Mike Seemuth