Updated Oct 14, 2026
Lennar Corp. Acquires 12-Acre Development Site In Dania Beach For $8.05M
4900 SW 31st Ave Fort Lauderdale, FL 33312, USA
$8,050,000
Building Size
—
Asset Type
Development Site
Closing
Aug 17, 2023
About this deal
AI
Lennar Corp., a Miami-based homebuilder, has acquired a 12-acre development site in Dania Beach, Florida. The property, located at 4900 Southwest 31st Avenue, was purchased for $8.05 million. Lennar Corp. was able to double the value of the property after securing townhouse development approvals, showcasing its strategic approach in the South Florida market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $8,050,000
- Address: 4900 Southwest 31st Avenue, Dania Beach, Florida
- Market: Dania Beach
- Buyer: Lennar Corp. - Stuart Miller
- Seller: Sobel Co. - Jeffrey E. Sobel
- Image: Jeffrey E. Sobel & Stuart Miller
- Date: 08/17/2023
This transaction demonstrates Lennar Corp.'s continued commitment to development in South Florida amidst a strong market. The involvement of key individuals, such as Stuart Miller from Lennar Corp. and Jeffrey E. Sobel from Sobel Co., highlights the significance of this deal in the real estate industry.
On the Map
$8,050,000
Development Site
View full map
Players
Fort Lauderdale Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Browse Florida development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.97%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93