Two historically designated homes sold this week in Coral Gables. The properties were located at 3505 Toledo Street and 1122 Sorolla Avenue. They closed for approximately $220.00 per square foot, and $260.00 per square foot. Both were Old Spanish architecture and built in the 1920′s.
A home is given historical designation when it is at least 50 years old and has been determined to possess architectural, aesthetic or historical value. When a historic home needs major renovations, this designation can decrease the value of the home due to the arduous process of getting permits and approval from the Historic Preservation Board for any alterations, modifications or changes to the home. On the other hand, buyers will pay more for a historic home that has already been renovated because they appreciate the charm and character that the home offers.
If you are interested in buying or selling a historic home in Coral Gables, please feel free to call me directly at 305-342-1623 or send me a message here.
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