Merrick Manor – Coral Gable’s Newest Condominium Project

Schedule to begin construction this summer, Merrick Manor will be the “first condominium to take shape in Coral Gables real estate in more than five years,” according to The Astor Companies, Vice President Peter Torres.  This 10-story, mixed-use building with 180 apartments and 17,000 square feet of retail space will extend upward 100 feet from the ground to offer gorgeous views of Coral Gables, Miami and Biscayne Bay.  

The Plans for Merrick Manor
Introduced as plans in October 2011, Merrick Manor has the strength of a major developer behind it, The Astor Companies, which has also developed successful residential developments in South Florida like Brickell Vista, Nordica, Gateway to the Grove and more.  In addition, The Astor Companies has enlisted the architectural expertise of Behar Font & Partners and the interior design services of Michael Wolk who has created wonderful interior space locally as well as globally.  With South Pointe Construction at the helm of building the structure, Merrick Manor is sure to be a leading Coral Gables address for businesses and residents alike.

Merrick Manor’s architecture has a Mediterranean flair that blends in well with the other buildings in Coral Gables.  While the ground floor of the building will be filled with retail stores and restaurants, the rest of the building will residential apartments designed from 10 floor plans that range in size from 572 to 1,215 square feet and consist of one, two or three bedrooms and one or two baths.  

Location
Merrick Manor will be situated at the corner of Le Jeune Road and Altara Avenue which happens to be adjacent to Merrick Shops (formerly Village of Merrick Park) in the heart of Coral Gables.  Its location is ideal as it is close to the major arteries into and out of Miami as well as other parts of South Florida.  Miami International Airport is in very close proximity to the condominium making it a perfect location for those who travel frequently.

Amenities for Residents of Merrick Manor
From the finishes and features inside each residence to the community amenities, no expense is being spared with Merrick Manor. While the appeal of the condominium is classic in its design, Merrick Manor will integrate today’s technology and only the best finishes in each of its residences as well as the common areas.

In-Residence Features.  The list of features and finishes in each residence is truly jaw-dropping.  Some of the most notable include custom wood entrance doors wrapped in LED lighting, gourmet kitchens with white quartz countertops and a waterfall island, Snaidero Italian cabinets, and, state of the art appliances from Bosch and SubZero; impact-resistant windows and doors, Grohe and Duravit plumbing fixtures, full size washer and dryers and so much more.  Added to these amazing fixtures is the fact that each residence will be delivered “designer ready.” This simply means all of the fixtures listed above will be outfitted in each residence but the owners get to select flooring, paint color and moldings of their choice with the caveat that these finishes will add some expense to the sale price of the home.

Building Amenities.  In addition to luxury fixtures and finishes in each unit, residents enjoy luxury amenities in the common areas that are unrivaled in comparable condominium communities.  Some of them include a landscaped 25′ x 50′ sky terrace pool with pool concierge and outdoor entertainment area; an indoor/outdoor fitness center with a gym attendant; 24-hour front desk concierge; valet parking along with covered and assigned parking; ground level retail stores; Wi-Fi in common areas; a business center and shared office space area with computer-ready desks and conferencing capabilities; and so much more. 
  
Real Estate for Merrick Manor
Because the plans have just recently been approved, the exclusive sales and marketing arm of Merrick Manor, Cervera Real Estate, is accepting reservations.  According to the pricing structure, studios and one-bedroom units will be priced between the upper-$200s and mid-$400s; two-bedrooms from the upper-$400s to low to mid-$600s; and three-bedrooms between the low to mid-$600s as well.  Alicia Cervera-Lamadrid says that the building, “caters to young professionals and families seeking refined urban living in Miami as well as international buyers looking to settle in the heart of a premier retail and residential district.”  Cervera-Lamadrid believes that with pre-construction prices, “starting at about 40 percent below boom era pricing,” there is no doubt that this is a great investment.
   
Currently, about 30 percent of the building is reserved and expected to go under contract in April.  The schedule of deposit payments that begin at the time a unit is reserved is based on a percentage of the purchase price paid at the following times:

• 10% at reservation 
• 10% at contract
• 10% when construction begins
• 20% when the building is topped out (last beam is placed)
• 50% at closing

So Much Excitement
Merrick Manor is the first new to market real estate launch in Coral Gables since 1300 Ponce and the developer is sure that it will be a huge success.  Torres says that Merrick Manor will be a “premiere address for residents seeking a luxury lifestyle in the heart of one of Miami’s most upscale neighborhoods.”  With pre-construction prices at such a great value, it is a perfect time to invest in this stunning building that will definitely be a highly sought after address.