Bloomberg: Tech Migration Positions Coral Gables as “New Beverly Hills”

Technology giants continue to invest heavily in Coral Gables, with Apple as the latest prominent example. The influx of tech and finance capital is turning the City Beautiful into “the new Beverly Hills,” according to Bloomberg.

Apple just expanded its Miami-area footprint with a 45,000-square-foot office lease at The Plaza in Coral Gables. This move mirrors that of Apple’s peers Microsoft and Amazon, and complements California-based Apple’s existing presence in the market. Amazon is reportedly on the hunt for 50,000 square feet of office space in Miami.

Fueled by the pandemic-era boom, Florida is now home to seven of the 10 most expensive U.S. neighborhoods, Bloomberg reports, citing data from Zillow. Coral Gables neighborhood Gables Estates, with an average home price of $21.2 million, is the nation’s priciest neighborhood.

Merrick Manor, the Coral Gables building with just a few available condominiums remaining, is especially benefiting from the investment into the city and new job creation.

As corporate professionals relocate to Coral Gables, demand for nearby rentals surges. That makes Merrick Manor’s rented condominiums an ideal purchase, as owners benefit from immediate income and long-term upside. These broader trends support sustained growth in Coral Gables rental rates.

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.”

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 our Model Residence 527 on the at 301 Altara Ave., Coral Gables, FL 33146 – or contact the Berkshire Hathaway HomeServices EWM Realty team by calling (305) 779-6870. Open from 11 a.m. to 5 p.m. on Monday through Friday and weekends by appointment.