Jon Jaffe & Stuart Miller Of Lennar Acquire 12 Acre Development Site In Florida City For $12.34M

A 12-acre development site located on Southwest 355th Street in Florida City was sold for $12,340,000. The property is intended for a project called Villas De San Diego, which plans to feature 146 townhouses. The seller had owned the land since 1995, and the transaction aligns with Lennar’s strategic land banking approach.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $12,340,000
• Buyer: Jon Jaffe & Stuart Miller - Lennar
• Seller: The Diego Daniel Rodriguez Trust, The Martha Maria Munoz Trust & The Daniel Jose Rodriguez Trust
• Market: Florida City
• Acres: 12

The buyer, Lennar, executed the purchase through a land bank that is affiliated with Lennar Corp. The deal reflects a collaboration with TPG Angelo Gordon’s Essential Housing, showcasing a strategy to defer purchases until homes are prepared for delivery.