Josh Baumgarten And Adam Schwartz Acquire 57.9 Acres In Homestead For $19.63M

57.9 acres of agricultural land located at the southwest corner of Southwest 296th Street & Southwest 192nd Avenue/Tower Road was sold for $19.63 million. The property is situated in the Homestead market and is designated as a development site.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $19,630,000
• Buyer: Josh Baumgarten & Adam Schwartz - TPG Angelo Gordon; Stuart Miller - Lennar
• Seller: Leonard Abess & Jodie Bakes - BAAAMA LLC; Michael Pena - Penco III LLC
• Acres: 57.9
• Market: Homestead

TPG Angelo Gordon's land bank has acquired the property with Lennar holding an option for future purchase, aimed at a proposed 119-home development. The sellers include BAAAMA LLC and Penco III LLC, and Lennar is in the process of rezoning the property while planning to acquire homesites as they are developed.