Increasing residential sales activity in prime Coral Gables areas was marked during a 50-day period when a veteran local Realtor chalked up $7.1 million-plus in sales, representing closings on 27 residential properties.
“Whether intended as permanent residence or for leasing, demand for prime, close-to-downtown residential properties in Coral Gables is a leading factor in the current upward trend of Miami-Dade real estate markets,” said Sonia M. Blair, active in both city residential and commercial markets for 35-plus years.
“This is especially true of near-downtown locations,” she stated. “Sites near Merrick Center and Miracle Mile have commanded the strongest markets of recent months. “Now, recent sales indicate an increasing market value for both financial investors or new development planning near these prime downtown sections.”
On May 14, Blair closed a $2.4 million sale of four units at 20, 28 and 36 Antilla Ave., now planned for a five-story, 32-unit condominium with Mediterranean architecture. Vara Development purchased the land from Jorge De La Osa that was resold to Klaus Nusser of Caracas, Venezuela for the new boutique-styled development.
Its residential units averaging 2,248 square feet will include such luxury features as gourmet kitchens, quartz countertops, Italian-crafted cabinetry and Whirlpool appliances. The condominium also will provide a spa pool with resistance swimming.
Previously, Blair closed sales for several clients on multiple unit buildings and a single luxury condominium unit. All properties are located within one-mile or less of the city’s Miracle Mile. Five exclusive sales by Blair during a 37-day period between Mar. 26 and May 1, included:
• $830,000 sale of a five-unit building at 219 Phoenetia Ave., built in 1976 with beneath-structure parking. Current rental range for its four two-bedroom, one-bath units is listed in the $1,500 range. Seller was Lauralex LLC to buyer Valencia 520 LLC. Closed on Mar. 26.
• $1.5 million sale of Unit Six in the Segovia Tower condominium, 600 Coral Way, to Walter Rose from Patino Enterprises, a 3,940-square-foot penthouse residence, recent setting for a $32,000 per/person private fundraising event for President Obama. Closed on Apr. 16.
• $645,000 sale of a four-unit building at 1700 Galiano Ave. from Evaristo Ortiz and Larry Brueggeman to Menores 112533 LLC, currently commanding rentals in the $1,300-1,400 range. Built in 1954, the structure is sited on a 5,500-square-foot lot in front of Phillips Park within walking distance to Ponce de Leon Boulevard and Douglas Road. Closed on Apr. 17.
• $725,000 sale of a six-unit residential building built in 1955 on a 5,500-squarefoot site at 215 Menores from Anibal Irastorza of 215 Menores LLC, seller, to Menores 112553 LLC, buyer. Closed on Apr. 28.
• $1 million sale of eight one bedroom/one bath rental units located at 1000 E. Ponce de Leon Blvd. in a stately two-story identified by its tall white columns facing the boulevard, also within walking distance to Ponce and Douglas Road shopping and schools. Seller was Dr. Sherwin L. Weiss Family Trust to Valencia 520-524 LLC. Closed on May 1.
During the past 30-plus years, Blair has sold more than $1 billion in real estate properties, including major assemblages of multiple units and abutting site locations for redevelopment purposes, largely in Coral Gables.
For detailed information, Sonia M. Blair Inc. can be reached at 305-446-8695 or 305-790-6770, or visit www.soniamblair.com.