A 5-acre development site located at 1550 Northeast 26th Street in Wilton Manors was sold for $13,000,000. The site is approved for 50 townhouses and includes plans for 149 parking spaces, with units expected to start in the $800,000s. Lennar Corp.'s land bank is set to acquire the property when the homes are ready for delivery.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $13,000,000
• Address: 1550 Northeast 26th Street
• Market: Wilton Manors
• Acres: 5
• Buyer: Stuart Miller & Jon Jaffe - Lennar
• Seller: Larry Baum - Stellar Communities; Jack Azout & Shlomo Khoudari - Elion Partners

This transaction was facilitated by the involvement of key representatives from both the buyer and seller sides. Stuart Miller and Jon Jaffe represented Lennar, while Larry Baum represented Stellar Communities, alongside Jack Azout and Shlomo Khoudari from Elion Partners in the sale process.