The Astor Companies Completes Sale of Merrick Manor Commercial Condominium
Merrick Manor, a luxury mixed-use building in Coral Gables, has announced the sale of a commercial 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 ground floor retail space, brokered the sale.
As part of the transaction, a South American investor purchased 1,115 square feet of space occupied by Elegance Beauty Salon for $1.03 million. Elegance offers specialized services for hair, nails, makeup and eyebrow threading.
Elegance is part of Merrick Manor’s Health and Beauty Corridor, which was developed by the Astor Companies led by Henry Torres. Other health and beauty retailers on the ground floor of the building include Anaïs Nails & Spa, Body Details and Sweat 440. Chamizo is in the process of finalizing leases with a dentist and ophthalmologist to complete the corridor.
“Merrick Manor has an exciting mix of retailers as these business owners recognize the building offers an unrivaled combination of brand new space, an incredible location and an integrated customer base of residents, nearby professionals and visitors,” said said Chamizo.
“This new sale underscores the intense demand from Latin American investors for a 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 station on the ground floor of the building last year.
Merrick Manor is rapidly running out of available commercial space. A remaining space of 4,488 square feet with over 1,800 square feet of covered terrace is available. This popular corner can be split into two and is attracting substantial interest from a variety of potential retailers and restaurants.
“We have carefully curated the ground floor of our building with complementary, yet distinct, retailers to benefit the residents of Merrick Manor and the surrounding Merrick Park neighborhood,” Torres said. “Commercial real estate investors are aware of this. I commend Manny Chamizo for facilitating this sale and his overall efforts to represent our one-of-a-kind commercial space.
For other business and retail opportunities available at Merrick Manor, contact Chamizo directly at 786-453-3171 or via email at [email protected]
Merrick Manor is the premier offering of new condominiums in Coral Gables. The 10-story, 227-residence community and its nearly 20,000 square feet of ground floor retail space is located at 301 Altara Ave. – a short walk from the fashionable shops of Merrick Park.
For more information, visit the Sales Gallery project at 301 Altara Ave., Suite 119, call 305-779-6870, or email [email protected]
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