April 30, 2021 Uncategorized

The Astor Companies Closes Sale of Merrick Manor Retail Condominium in Coral Gables

Merrick Manor, the luxury mixed-use building in Coral Gables, announces the sale of a retail condominium. ONE Sotheby’s International Realty Global Commercial Director Manny Chamizo III, the exclusive sales representative for Merrick Manor’s 20,000 square feet of prime ground-floor commercial space, brokered the sale.

In the transaction, a South American investor purchased a 1,115-square-foot space occupied by Elegance Beauty Salon for $1.03 million. Elegance offers specialized services for hair, nails, make-up and eyebrow threading.

Elegance is part of the Health and Beauty Corridor at Merrick Manor, which was developed by the Henry Torres-led Astor Companies. Other health and beauty retailers on the building’s ground floor include Anaïs Nails & Spa, Body Details and Sweat 440. Chamizo is close to finalizing leases with a dentist and eye doctor to round out the corridor.

“Merrick Manor has an exciting mix of retailers, as these business owners recognize that the building offers an unparalleled combination of brand-new space, incredible location and a built-in customer base of residents, nearby professionals and visitors,” Chamizo said. “This new sale underscores the intense demand from Latin American investors for stabilized Class A commercial product in Coral Gables.”

In October 2020, Chamizo arranged the sale of a Merrick Manor retail condo to Talent Hub Agency, a talent agency co-owned by Puerto Rican actor, singer, songwriter, composer and television personality Carlos Ponce. The Coral Gables Police Department opened its first substation on the ground floor of the building last year.

Merrick Manor is quickly running out of available commercial space. A remaining 4,488-square-foot space with over 1,800 square feet of covered terrace is available. This prized corner can be divided in two and is generating substantial interest from a variety of potential retailers and restaurants.

“We carefully curated the ground floor of our building with complementary but distinct retailers for the benefit of Merrick Manor’s residents and the surrounding Merrick Park neighborhood,” Torres said. “Commercial real estate investors are taking notice. I applaud Manny Chamizo for facilitating this sale and his overall efforts representing our one-of-a-kind commercial space.”

For additional commercial and retail opportunities available at Merrick Manor, contact Chamizo directly at (786) 453-3171 or email Flacommercial@gmail.com.

Berkshire Hathaway HomeServices EWM Realty is the exclusive residential sales and marketing representative at the 227-residence Merrick Manor. For information about Merrick Manor’s residences, visit www.merrick-manor.com or call the Merrick Manor Sales Gallery at (305) 779-6870.

Miami law firm Rennert Vogel Mandler & Rodriguez is handling Merrick Manor closings on behalf of Astor.


About Merrick Manor:

Merrick Manor is the premier new condominium offering in Coral Gables. The 10-story, 227-residence community and its nearly 20,000 square feet of prime ground-floor retail space is located at 301 Altara Avenue – just steps away from the fashionable Shops at Merrick Park. With a modern twist on the timeless elegance of historic Coral Gables, the “City Beautiful,” the Mediterranean villa-style residences offer a unique selection of floor plans for one to four-bedroom designer-ready residences ranging from 574 to more than 3,400 square feet. Prices for remaining units start from $489,990 and range up to $2.6 million. For more information, visit the project Sales Gallery at 301 Altara Ave., Suite 119, call (305) 779-6870 or email info@merrick-manor.com.

Facebook: https://www.facebook.com/MerrickManor/

About Manny Chamizo III, ONE Sotheby’s Global Commercial Director:

Manuel Chamizo III is a seasoned professional with over 35 years of Commercial Real Estate experience. Manny Chamizo is widely recognized as a power broker and leading investment property expert. He was honored as “Best of the Best” by ONE Sotheby’s and named Power Broker by CoStar for his market expertise. Manny Chamizo has generated over $1 billion dollars in total transaction value throughout his career. He has over three decades of experience in all aspects of commercial real estate, including retail, multifamily and land development, as well as industrial sales.