Updated Sep 25, 2026
Lennar Homes Acquires 5-Acre Development Site For $4 Million Through Seller Avi Stern
6645 Chickasaw Road
$4,000,000
$18/SF
Building Size
217,710 SF
Asset Type
Development Site
Closing
Sep 9, 2026
About this deal
AI
The property asset involved in the transaction is a development site located at 6645 Chickasaw Road in the Greenacres market. The sale price was $4,000,000 for a 5-acre site, which has an approved site plan for 44 townhomes.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,000,000
- Address: 6645 Chickasaw Road
- Market: Greenacres
- Acres: 5
- Buyer: Lennar Homes
- Seller: Avi Stern
- Seller's Representative: Don Ginsburg - Katalyst Real Estate & Development
Key individuals involved in the deal include Avi Stern, the seller who previously owned the property, and Don Ginsburg, who represented the seller in this transaction. Lennar Homes is the buyer acquiring this development site for their future projects.
On the Map
$4,000,000
$18/SF
Development Site
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Players
Greenacres Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93