Avalonbay Communities Acquires Development Site In South Miami From Harvey Amster For $22.21M

The property involved in this transaction is a development site located at 5900 Southwest 72nd Street in South Miami. The sale price of the property was $22,210,000, which translates to $87,440 per unit and $429 per square foot.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $22,210,000
• Sale Price Per Unit: $87,440
• Sale Price Per Square Foot: $429
• Buyer: Avalonbay Communities
• Seller: Harvey Amster
• Broker: Virgilio Fernandez - Cushman & Wakefield
• Date of Transaction: 07/02/2026

Virgilio Fernandez from Cushman & Wakefield represented the seller, providing insights on the transaction with a note describing it as the last full block and emphasizing its significance for moving South Miami forward while highlighting the preservation of a local landmark.