Updated Feb 5, 2025
Lennar Corp. Acquires 118.6 Acre Development Site In Delray Beach For $19.19M
5901 Via Delray, Delray Beach, FL 33484
$19,190,000
Building Size
—
Asset Type
Development Site
Closing
Jan 10, 2022
About this deal
AI
A development site located at 5901 Via Delray in Delray Beach has been sold for $19,190,000. The property spans across 118.6 acres. The sale was completed on January 10, 2022.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $19,190,000
- Address: 5901 Via Delray
- Market: Delray Beach
- Acres: 118.6
The buyer, Lennar Corp., represented by Stuart Miller, acquired the development site from the seller, 13th Floor Homes.
The development site sale at 5901 Via Delray, Delray Beach, FL 33484 in Delray Beach, Florida sold for $19.2M in 2022. 5901 Via Delray, Delray Beach, FL 33484 is classified as Development Site on Traded. Named participants on the 5901 Via Delray, Delray Beach, FL 33484 sale are Stuart Miller. This page is the Delray Beach, Florida file for the 5901 Via Delray, Delray Beach, FL 33484 development site sold: pricing, party profiles, and other closed development site comps from the same Delray Beach sit in the Market section below. Filter that Delray Beach development site set by closing date to see what else sold near 5901 Via Delray, Delray Beach, FL 33484 around 2022. Published consideration for 5901 Via Delray, Delray Beach, FL 33484 is $19.2M, dated 2022. Cite this Lennar Corp. Acquires 118.6 Acre Development Site In Delray Beach For $19.19M sale when underwriting similar development site product around Delray Beach, Florida.
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Delray Beach Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93