Merrick Manor is offering those who act quickly something that simply does not exist elsewhere in the Coral Gables market. The building’s last few rented condominiums are priced well below replacement cost and have in-place leases that end in 2025.
The timing of these lease expirations is ideal for a buyer, who can benefit from reliable rental income and pursue a refinancing at a lower interest rate next year. The scarce construction pipeline should keep area rental rates strong, as Coral Gables always has intense demand from renters. At around $800 per square foot on average, the purchase price for Merrick Manor’s remaining rented condos is as much as $200 per square foot less expensive than anything in the pipeline in the City Beautiful.
Many people have been waiting on the sidelines with extra “dry powder” to deploy. With help from financial professionals, these funds can be utilized creativity to purchase Merrick Manor’s rented condos. In real estate, timing is everything.
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.
