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Multifamily Developer Grabs Kendall Entitled Land for $7M

MIAMI—CREC's Peter Mekras tells GlobeSt.com's Jennifer LeClaire what makes this developable land so attractive for multifamily.

By Jennifer LeClaire | Updated on September 10, 2012

MIAMI—Another developer is making a Miami land grab. Late last week a Skyline Equities Realty sold its rights for a proposed luxury condo development in Mary Brickell Village to Lynd Development and LNR Property. Now, a private owner has sold off a 17.1-axre parcel in Miami’s Kendall/Tamiami submarket.

Located at 14350 Southwest 137th Avenue, the land traded for $6.9 million. The land is zoned for the development of up to 195 townhome units. The sales price is equal to $403,355 per acre or $35,385 per unit before construction.

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