The Peruvian Consulate has closed on a four story office building in Coral Gables for $4.5 million. Built in 1973, the 15,875 sqf asset at 1401 Ponce de Leon Boulevard traded for $283 per sqf. āThe building was previously occupied by the seller, a diamond company based out of New York, which they vacated and left alone for a number of years. Additionally, the property had deferred maintenance, which created challenges navigating potential buyers who were not typical real estate players,ā added Douglas Mandel senior director Marcus & Millichap. He said, however, that the building’s strong location in the CBD of Coral Gables was important, as was the fact that it included 30 parking spaces.
