The Merrick Manor sales team is getting flooded with calls from real estate agents representing California residents who are fed up with the skyrocketing cost of living and oppressive taxes. Californians are especially frustrated with a new transfer tax on real estate that takes effect on April 1.
Voters in Los Angeles approved the additional tax on residential and commercial real estate valued at more than $5 million, as detailed by a Los Angeles-based law firm. Similar measures were passed in San Francisco and numerous other California cities. This new tax is in addition to existing city and county documentary transfer taxes.
This transfer tax represents “a significant increase in the cost of real estate purchase and sale transactions” in major California cities.
The $5 million value threshold is equivalent to one of Merrick Manor’s 10-unit bulk packages. Why spend $5 million on California real estate and get hammered with taxes when you can purchase well-located, Class A real estate in Miami? The choice is easy.
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.