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Sabal Development Sells 10-Acre Miami Parcel for $24.5 Million



Sabal Development, an award-winning Miami-based builder and developer who specializes in luxury custom homes, sold a 433,422-square-foot (10.17-acre) parcel located at 8290 SW 120th Street in Miami, Florida for $24.5 million on March 23, 2022.


The seller is Pascal Nicolai, founder and CEO of Sabal Development and Sabal Luxury Builder, and 8290 Partners. The buyer is Lennar Homes. No listing agents were involved in this off-market transaction.


Sabal Development purchased the parcel for $6.3 million on January 26, 2015. Sabal originally requested to rezone the site to build 20 single-family homes in a community known as Veridian Grove. Following the new Comprehensive Development Master Plan (CDMP), Sabal requested to rezone the site to permit 34 townhomes and 20 homes.


“We are thrilled to sell this special 10-acre Miami parcel for $24.5 million to Lennar Homes, who will make our vision for the community come to life,” said Nicolai.


As a custom home builder, Sabal Development works to understand the unique needs and lifestyles of its valued clients. Sabal Luxury Builder works with engineers, architects, and designers to fulfill each project from start to finish. Nicolai has more than 30 years of experience in the industry, with completed projects in Europe and the U.S.


Sabal Development and Sabal Luxury Builder celebrated a tremendous year of sales in 2021, achieving over $130 million in custom-built home sales.


More on Sabal Development


Specializing in luxury custom homes, award-winning Sabal Development creates astonishing residences that introduce a new level of splendor and innovation to South Florida. Sabal brings together a comprehensive team of international architects and designers for each project to realize its singular vision. The firm works with an integrated construction company, Sabal Luxury Builder, to ensure each project is completed in a timely manner and meets the highest standards. Its projects always reflect the latest advances in technology and sustainability by featuring smart home technologies and responsibly sourced materials. For more information, visit https://sabalbuilder.com/, call (786) 870-4406, or email info@sabalbuilder.com.


By ML Staff. Image courtesy of Sabal Development

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