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Two Commercial Condo Units Sell for $2.57 Million

Florida East Coast Realty negotiated the transaction, which a dental office purchased.

Florida East Coast Realty (FECR) recently brokered the sale of two ground-floor units at its 2020 Ponce office condo project, totaling 3,771 square feet. The buyer, Coral Gables Smile, d.b.a. CG Smile Makeover, is a multidisciplinary dental practice offering various dental services, including general and preventative dentistry, restorations, and endodontic and orthodontic care. The suites were sold for $2.57 million, which amounts to $681 per square foot.

“In today’s evolving market, we are seeing many business owners interested in owning their own space, seeking to take advantage of the investment opportunity,” Austin Hollo says, Chief Operating Officer at FECR. “Commercial condos are very attractive to those with stable or growing businesses looking for a great location.”

Donna Abood, Joe Abood, and Peyton Dowd from Avison Young brokered the deal.

“In the past eight months, we have experienced remarkable success in the Coral Gables market,” Abood says. “The city has strong appeal as an attractive alternative to markets such as Blue Lagoon, Downtown Miami, or Brickell.”

Florida East Coast Realty, established by Tibor Hollo over six decades ago, has an impressive track record of constructing over 60 million square feet of buildings that include iconic residential and commercial skyscrapers, luxurious single-family homes, governmental structures, marinas, high-quality retail centers, warehouse complexes, and telecommunications centers.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.