For the next 30 days, Merrick Manor is offering a unique and flexible bulk condominium package as Coral Gables experiences record condo rental rates and unprecedented demand.
Over the past 12 months, Coral Gables average residential condo rents have surged by 28%, from $2.69 per square foot to $3.73 per square foot. The median condo rental rate is currently at an all-time high of $4.15 per square foot. Rents are climbing because there is only 1.5 months of condo rental inventory presently available in Coral Gables. A balanced market has closer to six months of inventory.
With this in mind, Merrick Manor has a package of five condos available for purchase. This offering is even more enticing because Merrick Manor developer The Astor Companies is leasing back each unit in the bulk package for 12 months. Astor will manage the units free of charge and cover HOA fees and real estate taxes during that timeframe.
A buyer can purchase all five residences, or three, or even just one and still receive the 12-month leaseback, management and coverage of taxes and HOA fees.
Where else can you find Coral Gables real estate that offers both monthly income and long-term upside?
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 and Sunday.