Updated Sep 11, 2026
SOLDDevelopment Site
David Viger Of Sekisui House U.S. Purchases 56.56 Acre Development Site From Noah Breakstone For $14.31M
$14,310,000
Building Size
—
Asset Type
Development Site
Closing
Sep 9, 2026
About this deal
AI
A development site consisting of 56.56 acres located on Greenbriar Road in St. Johns, FL, was acquired for $14,310,000. This property adds 108 final lots to the Pinewalk master-planned community, enhancing the region's development potential.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $14,310,000
- Buyer: David Viger - Sekisui House U.S.
- Seller: Noah Breakstone - BTI Partners
- Market: St. Johns, FL
- Acreage: 56.56
The acquisition of the property was executed by Sekisui House Florida, facilitated through Greenbriar Property Holdings. This transaction contributes to a significant increase in the Pinewalk-area land sales, with BTI Partners reportedly selling around 889 acres for a total of approximately $119.7 million since late July, following recent purchases by Taylor Morrison.
Players
Market 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
1.11%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93