New high-rise building at the corner of Lejeune and Bird roads has become a potential neighbor of Coral Gables’ prestigious Merrick Park.
A prime building site near the southeast corner on SW 42nd Avenue has been sold for $2.5 million by Sergio Pino, president of Century Laguna LLC, to Henry Torres, president of Astor Properties Holdings LLC, a Miami development firm.
The tract facing Lejeune north of Merrick Park that Torres purchased has 26,750 square feet of land, zoned for commercial-residential usage, and lies immediately north of the Coral Gables trolley yard and offices.
Sonia M. Blair, president of Sonia M. Blair Inc., Realtor, handled the property as representative of the seller in the transaction that took place in late August.
While no immediate plans were announced, Blair said the new assemblage of adjoining properties would permit high-rise rental development as one alternative, suitable as a residential location for University of Miami students and faculty.
The building at 4111 Lejeune Road has an adjusted square footage of 7,040 with 42 parking spaces and sold in 2006 for $6.5 million. At that time, Blair also had assembled the Mobil service station at 390 Bird Rd. comprising 22,000 square feet with the three properties in a total $5.9 million sale.
In representing Pino, a major residential and commercial builder in Miami-Dade County, Blair has sold more than $65 million worth of assembled land in the Merrick Park area.
Torres is the builder of three prominent condominiums, including the Nordica, Valencia and Brickell Vista projects. Astor Properties has more than 1,000 residences currently under development with additional units planned.
Blair, president/CEO of her firm formed in 1973, specializes in the sale of commercial real estate, income-producing properties and high-end residential property, which total more than $700 million in value.
Considered one of the pioneers of “assemblage” in Coral Gables, by which she assembles blocks of adjoining properties for the development of mixed-use zoning and residential-townhome development, Blair is credited with more than $700 million in property transactions during the past quarter century in the city.
Blair is a former chair of the RPAC Committee and director of the Coral Gables Board of Realtors, instrumental for seven years in its Realtor-Lawyer Committee drafting of the sale and purchase contract forms and other legal documents in regular use today.
With offices located at 2920 Segovia St., Coral Gables, the Blair firm can be reached at 305-446-8695, or by visiting its website at www.soniamblair.com.