M/I Homes, one of the nation’s leading homebuilders, has purchased a 33.26-acre residential parcel at 1013 and 1015 57th Street E in Bradenton. Matthew Kezar and Richard Bennett sold the property to the developer for $3.7 million.
Nick DeVito II, SIOR, and Joanna Ginder of Ian Black Real Estate represented the buyer. Matthew Kezar of Ian Black Real Estate represented the seller.
“This is an infill site located West of I-75 near State Road 64, and there are not many of these left in our market,” said DeVito, partner at Ian Black Real Estate. “They are being courted by all the best homebuilders for development. This particular parcel saw a lot of interest.”
M/I Homes plans to build a community called Amberly, with 124 paired-villa homes.
Several years ago, the parcel was part of unincorporated Manatee County. Kezar and Bennett worked with the City of Bradenton to annex it into the city’s easternmost limit. It was originally planned for assisted living development, but when the housing market began rebounding a few years ago, the sellers converted it to residential.
“Over the years, we had to annex into the City of Bradenton, change the Comprehensive Plan and rezone twice,” said Kezar. “It was the subject of nine public hearings without a single vote in opposition. The City of Bradenton was great in helping us get this all done.”
Construction of Amberly is expected to begin soon.
About Ian Black Real Estate
Ian Black Real Estate (IBRE) is a boutique commercial real estate brokerage firm located in Sarasota, Fla. The firm is one of the largest commercial brokerage firms in Southwest Florida and boasts a deep knowledge of the commercial real estate market in Sarasota and Manatee counties and the surrounding area. For more information, visit ian-black.com.