May 8, 2023 Real Estate News

CRE Owners: Consider Rented Merrick Manor One-Bedrooms Before it’s Too Late!

Commercial real estate owners with loans set to mature soon have tough decisions to make on the best path forward amid elevated interest rates and a challenging office market. These owners should consider switching over to residential real estate to avoid losing all of their equity and facing potential defaults.

Hiten Samtani of The Real Deal recently broke down the “wall of doom” in the form of $1.5 trillion in estimated commercial real estate debt expected to mature in the next three years. Owners of such properties are “left with three options, all not so great: put more equity in, find a partner to do it for you and lose some of your upside, or walk away altogether,” Samtani says in his video report.

Samtani also dispels the notion of an immediate recovery for the U.S. office sector.

“Offices are not back,” he said. “They are still often half-empty. And when your product is not being used with the same ferocity as before, when it is no longer at the centerpiece of the American economy, something’s gotta give.”

Merrick Manor’s negotiable packages of rented one-bedroom condominiums are the perfect alternative to riskier commercial real estate assets.

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.