New Condo for cars only-Miami
By Marco Giancola, Realtor (305)608-1922, Miami Beach Florida
(Beachfront Realty)
Rendering of Gables Auto Vault A mixed-use project in the works is targeting a new demographic: luxury cars. Interior rendering of Gables Auto Vault Nathan Vedrani and Tom Cabrerizo, director of acquisitions and CEO along with developer Sheldon Lowe, are building the five-story project in the area east of Coral Gables in the city of Miami. The partnership closed on a $19.5 million construction loan from SunTrust Bank for the site, which is on Bird Road and Southwest 38th Court.The project is 50 percent sold to local buyers, he said. Prices range from $500,000 to about $2 million, with spaces that hold anywhere from six to 20 cars. Units will include security, air conditioning and high-end finishes. Owners will be able to drive their cars onto large freight elevators that open into a...
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