Gables Office Condo Unit Sells For $718 PSF

Florida East Coast Realty (FECR), an integrated real estate development and management company with more than 60 million square feet of construction completed, announced the sale of Suite 1001 at its 2020 Ponce office condo located in Coral Gables.

The price was $1.9 million or $718 per square foot.

The buyer, Andre Ordonez, is an established business owner plans to utilize the space for his own operations.

The sale underscores the strong demand for premium office spaces in Coral Gables.

“This is our third sale at 2020 Ponce within the past few months,” said Austin Hollo, Chief Operating Officer at FECR. “There is no question that the condo office market segment appeals to entrepreneurs who want to own and reap the potential capital gains down the road.”

Donna Abood, Joe Abood, and Peyton Dowd of Avison Young represented FECR in the transaction.

“This transaction highlights the enduring appeal of Coral Gables as a premier business destination,” said Joe Abood. “The per-square-foot price achieved in this sale is a testament to the exceptional quality and amenities offered at 2020 Ponce.”