National Report: Buyers Increasingly Favor Smaller Residences

A new report from Pro Builder shows that today’s buyers are willing to sacrifice square footage in favor of affordability and amenities. This trend makes Merrick Manor’s limited collection of remaining one-bedroom luxury condominiums even more desirable – especially the Coral Gables building’s special 10-unit bulk package!

The average square footage in new single-family homes was 2,480 square feet in 2021, down 7% from the peak of 2,687 in 2015, according to the Pro Builder article citing data from the Mises Institute. The piece attributes the decline to builders adjusting to downsizing buyers who want smaller and more attainably priced residences. These buyers are unwilling to give up the amenities they enjoy, however.

To cater to evolving buyer preferences, Merrick Manor offers flexible bulk condo packages to allow for the purchase of one to 10 one-bedroom units.

The 10-unit package is currently available for an incredible price of $5,970,900. The one-bedrooms in this offering range from 771 to 963 square feet and include this special incentive: for 12 months after the closing, Merrick Manor developer The Astor Companies will lease back any unit, pay the HOA and real estate taxes, and manage the units free of charge.

These packages provide an unbeatable combination of monthly income and long-term upside through Coral Gables real estate.

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 and from 11 a.m. to 5 p.m. on Saturday and Sunday.