The Agency to take over sales of Merrick Manor: sources

One Sotheby’s ended its listing agreement with the Coral Gables condo project

Miami /
Mar.March 06, 2019 03:30 PM

From left: Henry Torres, Daniel de la Vega, and Mauricio Umansky with a rendering of Merrick Manor

The Agency will take over sales of Merrick Manor as the Coral Gables condo project and its current sales and marketing firm One Sotheby’s International Realty part ways, The Real Deal has learned.

Astor Companies, led by Henry Torres, plans to complete Merrick Manor, a 10-story, 227-unit development at 301 Altara Avenue, within weeks. One Sotheby’s has handled sales since May 2017. It’s 65 percent presold, One Sotheby’s President Daniel de la Vega said.

De la Vega said he ended the listing agreement with Merrick Manor on Monday. In a statement, he wished the project success and said that One Sotheby’s “successfully positioned the project for closing.”

Torres said he was grateful for the sales volume One Sotheby’s achieved and said the contract was coming to an end. The Agency is expected to take over on Friday or Monday, according to sources.

As of November, available units ranged from about the $400,000s to $2.6 million, and from 574 square feet to more than 3,400 square feet. The building will have nearly 20,000 square feet of retail space. Trésor, a Miami-based jeweler, inked a lease for nearly 1,500 square feet.

Astor Companies launched sales in 2013, but the project was on hold due to a failed land swap between the city of Coral Gables and the developer. Astor then relaunched sales in early 2017, hiring One Sotheby’s a few months later.

The project is near the Shops at Merrick Park, south of Miracle Mile.

The Agency recently expanded to South Florida with its first office in Boca Raton, later opening in Aventura and Coral Gables. The Los Angeles-based brokerage, led by CEO Mauricio Umansky, is also expanding into new development sales in South Florida, taking on 333 Victoria Park in Fort Lauderdale and the Andaz Turks & Caicos.


Related Articles

arrow_forward_ios
Ashar Aziz with an aerial of 8525 Old Cutler Road in Coral Gables (LinkedIn; Google Maps)

Hedge funder buys Coral Gables lot for $18M

Hedge funder buys Coral Gables lot for $18M
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)

South Florida’s pandemic-fueled residential market poised for bull run in 2021

South Florida’s pandemic-fueled residential market poised for bull run in 2021
Kathleen DuRoss Ford and 300 North Lake Way (Getty, Google Maps)

Kate Ford’s Palm Beach estate sells for $55M

Kate Ford’s Palm Beach estate sells for $55M
Dan Azel & 130 Solano Prado, Coral Gables (Google Maps, LinkedIn)

Construction honcho buys waterfront Coral Gables home for $5M

Construction honcho buys waterfront Coral Gables home for $5M
8860 Hammock Lake Court (Boschetti Realty Group, LLC. via Redfin)

Developer Jose Boschetti sells his Coral Gables lakefront home for $7M

Developer Jose Boschetti sells his Coral Gables lakefront home for $7M
Alta Developers’ Raimundo Onetto and a rendering of the project

Alta pays $17M for Coral Gables site to build mixed-use multifamily project

Alta pays $17M for Coral Gables site to build mixed-use multifamily project
Sam Nazarian with 8815 Arvida Drive (Getty, REWS Miami - David Hernandez)

Sam Nazarian pays $14M for waterfront Coral Gables estate, plans to move from LA

Sam Nazarian pays $14M for waterfront Coral Gables estate, plans to move from LA
Life Time Coral Gables rendering with Niven Patel (Life Time, Ghee Hospitality)

Niven Patel, Graziano’s ink restaurant leases at Life Time Coral Gables

Niven Patel, Graziano’s ink restaurant leases at Life Time Coral Gables
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...