Jesus Quintero’s JQ Group is launching sales of a planned nine-unit condominium in Coral Gables.
The 12-story boutique building, called 719 Biltmore Way Residences, takes its name from the site’s address. Each of the units will span entire 3,900-square-foot floors, with four bedrooms and terrace space, according to a press release. Prices range from $5.3 million to $6 million. Douglas Elliman is leading sales.
The project will also include 3,500 square feet of amenities, with a rooftop pool, a gym and shared workspace. Units come with gated ground-level parking spaces and storage units, a spokesperson for JQ Group confirmed.
Construction is set to begin in the third quarter of this year, and is expected to be completed in the fall of 2024, the release shows.
Quintero heads the project as founder and CEO of Miami-based JQ Group. An entity linked to JQ Group bought the development site for $6 million in August, records show.
Quintero anticipates a total sellout of $52 million, he said. His other developments in South Florida include Quint Hollywood, a 10-unit townhouse development at 2800 North Ocean Drive, which launched sales in May 2019.
Architect Willy Bermello and his Coral Gables-based firm Bermello Ajamil & Partners led the architectural design for 719 Biltmore Way Residences, and Sire Design of Miami is handling interior design, the release says.
Lourdes Alatriste, Miguel Solis and Pietro Belmonte of Elliman are leading sales for the project, Alatriste confirmed.
“The primary target that we have in mind are local empty nesters,” Quintero said. Alatriste noted that potential buyers include Coral Gables residents looking to downsize, as well as transplants from New York and Chicago.
Developers are eyeing Coral Gables for new condo and apartment projects.
Alirio Torrealba’s MG Developer is planning a residential complex called the Village at Coral Gables at 535 Santander Avenue. It will consist of 48 residential units, including four duplex units, 16 townhouses, four lofts and 24 condos on a 2.6-acre block.
TA Builders plans a pair of multifamily projects with a combined 126 units. They include a nine-story building with 69 units at 211 Santillane Avenue, and another nine-story building with 57 units at 1008 East Ponce de Leon Boulevard.
Late last year, developer Rishi Kapoor closed on a $35.6 million site in Coral Gables, after securing city approval to build a 16-story mixed-use condominium project on the southeast corner of Ponce De Leon Boulevard and Menores Avenue.