Some Merrick Manor buyers are so enthusiastic about the luxury Coral Gables building that instead of purchasing just one residence, they are taking advantage of the bulk condominium packages available for a limited time.
The 5-unit packages are a particularly big hit and make for a great 1031 exchange option. A 1031 exchange is an effective way to defer capital gains taxes on a property that is sold by purchasing a like-kind property within 180 calendar days after the sale.
Here’s how Merrick Manor’s 5-unit packages work:
· A buyer purchases five residences at the building
· The Astor Companies, developer of Merrick Manor, leases back each unit in the package for 24 months after closing
· Astor manages the units free of charge and covers HOA fees and real estate taxes during that timeframe
Monthly income + long-term upside = an unbeatable combination!
Located at 301 Altara Avenue, the 10-story, 227-residence Merrick Manor’s pet-friendly amenities and lifestyle truly cannot be beat. Merrick Manor also 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 Sales Gallery 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.