BUYER NEW: INSURANCE CHALLENGES Favor Newer, Well-Maintained Condo Buildings

One of the many reasons why luxury condominium building Merrick Manor is the hottest buy in the Greater Miami market is that is it an outlier from the insurance challenges plaguing much of Florida. Last week, FedNat Insurance Co. became the sixth Florida property insurer to declare insolvency in 2022 alone.

The insolvency of FedNat and other insurers like it is forcing Citizens Property Insurance Corp., the state’s insurer of last resort, to take on hundreds of thousands of additional policies. As of Sept. 16. Citizens had 1.06 million policies, which is more than double the amount from two years ago. Limited options, combined with Hurricane Ian’s expected impact, will make property insurance even more expensive and difficult to obtain going forward.

However, Merrick Manor is an ideal option for today’s insurer given that the building is brand-new, extremely wellmaintained and located on an inland and elevated property. Developer The Astor Companies has gone above and beyond to make sure Merrick Manor is also fiscally sound.

Simply put, Merrick Manor checks all boxes for today’s residential buyer.

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 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 and from 11 a.m. to 5 p.m. on Saturday.

For more information about the Commercial spaces at Merrick Manor please call ONE Sotheby’s Manny Chamizo III (786) 486-6655.