CORAL GABLES, Fla., Feb. 21, 2013 (GLOBE NEWSWIRE) -- Adding to its significant portfolio of distinctive South Florida residential and mixed-use condominium properties, BH3 proudly announces its acquisition of the remaining residential and commercial condominium inventory at 1805 Ponce, located in the heart of downtown Coral Gables offering refined residences, sophisticated ground-floor retail/office spaces and strategically located boutique offices on upper floors. A graceful Italianate 15-story limestone structure completed in 2008, 1805 Ponce is located at 1805 Ponce De Leon Boulevard and features an arched façade embellished with carriage lanterns. Its atrium pool deck located on the 5th floor is fringed with potted palms and is reminiscent of a European courtyard.
"With local buying activity in the mid- to high-end residential and commercial sectors on a sharp upswing since 2011, we were pleased to be able to acquire 1805 Ponce as it continues our company's philosophy of acquiring well-built and ideally located product while being able to offer said product for sale to the public at an incredible value proposition, as we successfully implemented at other projects such as Terra Beachside 6000 Collins and Trump Hollywood," opines Greg Freedman, principal of BH3. He adds, "Coral Gables is an incredibly stable location with impressive demographics where there has been limited new inventory available for sale and we are excited to bring 1805 Ponce to the market."
Coral Gables, among the oldest and most European-influenced of South Florida cities, is a magnet community for businesses, individuals and families who value its close proximity to luxury shopping, dense concentration of fine dining establishments, and proliferation of cultural destinations for live music, fine art, theatre and cinema. Miracle Mile, the city's central retail artery and pedestrian thoroughfare, is a mere 5-block stroll from 1805 Ponce de Leon. Even closer is Alhambra Circle, the business and corporate mecca of Coral Gables and the location of a rich cross-section of international financial, business management and corporate headquarters and operations centers.
The ground floor of 1805 Ponce offers 13 prime retail/office condominium units ranging from 1,231 to 5,295 square feet, and Floors 2-5 are comprised of 11 boutique office condominium units ranging from 2,182 to 5,444 square feet of high-ceilinged ambiance, many with city views. The areas busy pedestrian sidewalk activity plus on-premises ample parking availability further enhances the property's appeal for residential, retail and office space owners alike. Of particular significance to prospective purchasers is the relative scarcity of "available inventory" in the Coral Gables market.
From a residential buyer's standpoint, 1805 Ponce is an urbanists' dream come true. The 110 residences, in Villa and Tower configurations that range from 755 to 2,845 total square feet in one, two and three-bedroom layouts, are stunningly finished to evoke old-world elegance, with airy 11-ft. ceilings in all units, marble flooring, designer kitchens with modern European-style cabinetry, granite countertops and stainless steel appliances, spacious baths with double lavatories in larger units, and French doors transitioning onto Mediterranean-style balconies. A special distinction of the 16 Tower Residences is the privilege of private elevator service to each residence.
Owners at 1805 Ponce enjoy a lifestyle that is as refined as their address. The 5thfloor enveloping pool courtyard, open to the sky and paved in stone tile, is a tranquil environment and offers the ideal setting for winding down after a long day with a calming swim or spending leisure time on the amenity deck. Also available for residents and their guests is a complete fitness center with up-to-date exercise equipment, as well as several entertainment rooms for private functions. Particular points of pride for residents are the gorgeous main and elevator lobbies, with their gleaming marble floors, richly carved furnishings and the warm glow of classic light fixtures.
Because the developer appreciates the dictum that "form follows function," 1805 Ponce's residential and commercial owners will appreciate the property's service-focused conveniences. The on-property covered parking garage offers 349 parking spaces, along with 24-hour front desk presence.
With all the excitement surrounding the resurgence of real estate sales transactions throughout Miami, it's critical that interested parties (especially aficionados of living and working in Coral Gables, as many local residents do) act quickly in reviewing available options at 1805 Ponce. The on-premises sales center is open for business daily, Monday to Saturday from 10:00 AM to 6:00 PM. For more information, interested parties are cordially invited to call 305-508-4425 or visit www.1805Ponce.com.
About BH3 Development
Lead by principals Gregory Freedman, Charles Phelan, and Daniel Lebensohn - BH3 is an opportunistic real estate firm with a core focus on acquiring real estate in South Florida and New York City. In addition to 1805 Ponce, the firm's impressive portfolio includes Trump Hollywood, Terra Beachside 6000 Collins, and Fontainebleau Sorrento. To learn more, please visit www.BH-3.com.
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