More than 30 acres in Miramar have sold for $41 million. Three developers split the prize
Miramar is getting luxury rental apartments and a retail center near the Florida Turnpike.
The Ansin family — the owners of Sunbeam Television Corporation — sold a 36.7-acre parcel of land located between Red Road and Miramar Parkway in Broward County for $41 million on Monday. The land was sold as two separate sites to separate buyers.
The largest portion, 30 acres, went to Altman Development Corporation, a property-management company based in Boca Raton, for $35 million.
Master Development Partners LLC, headquartered in Dania Beach, partnered with Konover South LLC, from Deerfield Beach, to close on 6.7 acres for $6 million.
Neither Altman nor Master Development responded to requests to comments.
F. Thomas Godart — of Godart Florida Real Estate Development, the listing agent — made both sales, citing its proximity to employment centers and roadways.
“Miramar is a key employment place, and it’s a central location. You have a lot of companies based there,” he said
Keith Poliakoff, a land-use attorney and partner with Saul Ewing Arnstein & Lehr, noted the region’s strong income base. “With an average median income for a family of four that’s in line with the county level — Miramar is at $66,000 and Broward is at $68,000 — you need places to attract those with a higher income.”
“Most of the growth is near the [main] arterial roads because people want easy access in and out of the city,” he said.
Altman said it plans to use the site to build Altis, a luxury rental development, on the northwest quadrant of Miramar Parkway and Red Road. The project will include 650 units split between two buildings — Altis West with 320 garden apartments and Altis East with 330 apartments. Residents will share a clubhouse and linear park.
The Broward market is short of luxury rentals, said Godart. “This is one of the larger multifamily projects in South Florida. Usually, there’s about 300 units in a project but since it’s a Class A location ... they decided to build more. It’s tough to find this kind of location today.”
Master Development Partners LLC and Konover South LLC plan to build a retail center, Miramar Park Place. The layout provides 56,683 square feet of retail space.
The Ansin family saw the plans before approving the sale. “The city and the Ansin family want this to be the gateway to Miramar.”
New developments, such as the Altis sites and Miramar Park Place, are likely to keep happening for the next few years given rising property values, population growth, and a “progressive commission,” said Poliakoff.
But what little vacant land remains will soon be gone, he said. “Miramar is getting close to being built out. In the next five to 10 years, there’s not going to be vacant land. Developers are going to then look at older projects built 30 years ago for redevelopment.”
This story was originally published October 30, 2019 at 4:30 AM.
