Office Building Goes for $150 Per SF but Price is Still Below 1981 Sale

MIAMI-Small, well-maintained structures continue to command top-of-the-line prices. A 7,563-sf, 45-year-old building in Coral Gables, FL has sold for $1.135 million, a sound market value but still below the $1.25 million tag it carried in 1981, brokers say.

By Alex Finkelstein | November 10, 2000 at 01:01 AM

The price is considered current market value but it's still below the $1.25 million the property sold for in 1981. The property went for $1 million in 1979. Gables Venture bought the Merrick Way building from Lolita Dixson who is carrying a purchase money mortgage for $740,000 at 9%.

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