Luxury condominium building Merrick Manor’s final collection of developer units includes a three-unit package that is available for under $1.7 million. And thanks to some creative developer incentives, this particular package has an introductory cap rate of 6.58% – on par with current interest rates.
The Astor Companies, developer of the Coral Gables building, is offering this package in a time when Miami rents have surged. To make it even more enticing, Astor is leasing back each unit in the bulk package for 12 months, managing the units free of charge and covering HOA fees and real estate taxes during that timeframe.
This offering is available for $1,648,970. Where else can you find a three-unit package of Miami condos with these guarantees included for under $1.7 million?
Merrick Manor’s purchase price for square foot compares favorably with other Miami luxury condo buildings.
Located at 301 Altara Avenue, the 10-story, 227-residence Merrick Manor’s pet-friendly amenities and lifestyle truly cannot be beat. Merrick Manor is just steps away from the world-class Shops at Merrick Park and has a Zillow Walk Score of 77, making it “very walkable.” The building is surrounded by three championship golf courses and is just 20 minutes from Miami Beach.
Berkshire Hathaway HomeServices EWM Realty is the exclusive residential sales and marketing representative for Merrick Manor.
For more information about the residences at Merrick Manor, visit the new Sales Gallery in Suite 117 on the ground floor of the building at 301 Altara Ave., Coral Gables, FL 33146 – or contact the Berkshire Hathaway HomeServices EWM Realty team by calling (305) 779-6870. The Sales Gallery is open from 10 a.m. to 6 p.m. on Monday through Friday.