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Berkadia is pleased to exclusively offer a unique opportunity to acquire a shovel-ready development site in Coral Gables, located at 390 Bird Road, Coral Gables, FL 33134. This property is approved for a development featuring 97 residential units, 8,144 square feet of retail space, and 13,831 square feet of office space. Located next to The Shops at Merrick Park and just a five-minute drive from Miracle Mile and Coral Gables’ 6M+-square-foot Class A office market, this area is highly appealing for luxury residential development in one of Florida’s most prestigious locales.
The proposed development will span across 61,860 sellable square feet, offering 97 residential units in a market characterized by low supply and high demand for both condominiums and apartments. The project will be constructed over three parcels, with the central parcel owned by the city of Coral Gables. A future owner will benefit from air rights starting at Level 2, while the city retains possession of the central parcel. Both Permit and Impact fees have been paid, and the project is primed for immediate development.
Coral Gables stands out as one of the most sought-after submarkets in South Florida, lauded by USA Today as one of the top five most beautiful small cities in America. The city’s commitment to Mediterranean-style architecture has fostered picturesque residential and commercial districts, commanding high values for property owners. With high barriers to entry, the opportunities to develop residential units are both rare and highly coveted by investors.
A significant advantage of 390 Bird Road is its readiness to begin construction, complete with a building permit, which is time-consuming to obtain in Coral Gables due to the city’s stringent regulations. This site represents not just an investment in property, but an investment in one of the most exclusive and desirable locations in the U.S.
THE Opportunity
390 Bird Road, Coral Gables, FL 33134
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
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CHARLES FOSCHINI
Senior Managing Director 305.267.6608 charles.foschini@berkadia.com
SHANNON WILSON
Associate Director 786.646.2579 shannon.wilson@berkadia.com
MORTGAGE BANKING
Wouter Lips
Senior Financial Analyst
786.830.9002
wouter.lips@berkadia.com
Roberto Pesant
Senior Managing Director
305.975.5956
roberto.pesant@berkadia.com
Yoav Yuhjtman
Senior Director
786.853.5555
yoav.yuhjtman@berkadia.com
David Greenburg
Financial Analyst
305.260.4973
david.greenburg@berkadia.com
Jaret Turkell
Senior Managing Director
561.573.6140
jaret.turkell@berkadia.com
Omar Morales
Director
305.878.2278
omar.morales@berkadia.com
INVESTMENT SALES
Miami
1111 Brickell Ave
Suite 1650
Miami, FL 33131
Boca Raton
5100 Town Center Circle Suite 550
Boca Raton, FL 33486
CONTACT US
Coral Gables, FL 33134
LOCATION
PRIME, SHOVEL-READY, MIXED-USE DEVELOPMENT SITE IN SUPPLYCONSTRAINT CORAL GABLES, FL
Located at the prominent corner of Bird Road and Le Jeune Road
CHRISTOPHER APONE
Managing Director 305.338.4464 christopher.apone@berkadia.com
CHRISTOPHER APONE
Managing Director 305.338.4464 christopher.apone@berkadia.com