The Newest Coconut Grove Condos For SaleMay 2, 2019
Coconut Grove is pre-dominantly a single-family home market and is known as such. Not many buyers think of Coconut Grove when they consider investing in a Miami condo. When foreign or even domestic investors call me for great Miami condos for sale, they mostly refer to condos they have heard about in Miami Beach or Brickell. When I inform these buyers about the Coconut Grove condo market and when we start discussing their condo requirements we often come to the conclusion that Coconut Grove condos are the best fit. It is for this very reason I decided to write this blog on why I believe the Coconut Grove condo market is unique, offers great value for money and is often the best fit for investors.
The Grove has become more and more desirable in the last few years with the Wall Street Journal even covering its impressive transformation from an eclectic town to a playground for billionaires. The Grove is understated chic and offers a high-end lifestyle without the obvious glitter and glamour of Miami Beach.
The Grove was already home to a handful of waterfront condos (like the Grovenor House, The Ritz Carlton Coconut Grove Residences and the condos on Grove Isles Coconut Grove), although some of them are slightly more dated and less compatible with modern day buyers. With a growing demand for Coconut Grove real estate, it become clear that the market didn’t cater sufficiently to condo buyers that wanted ultra-luxurious waterfront living.
From 2013 onwards the Grove started to fill this gap in the market with a handful of brand new luxury condos
The Coconut Grove Condo Market
The Coconut Grove condo market offers a limited supply of condos while the demand is high. In this aspect the Grove condo market differs significantly from the Brickell, Downtown or Miami Beach condo markets which currently see a market with an abundance in supply. As there is limited space to build in the Grove (especially along the bay), there is a small chance of the market becoming oversaturated with condos. The latest condos that have been announced in Coconut Grove, all value the privacy and tranquility factor. You won’t see massive projects like in Brickell or the Beach. Finally the demographic that buys Coconut Grove real estate is mostly looking for a primary residence and not for merely an investment. The importance of this is explained in our article on “what Miami real estate not to buy“.
Condos for Sale in Coconut Grove
Please find below an overview of the newest Coconut Grove condos for sale.
From the list below Park Grove (still in pre-construction) and Grove at Grand Bay (Just started reselling units) are the most luxurious projects with 5 star services, the finest in finishes and superb bay views. The other condos in the below list are what can be called a new trend in the Coconut Grove condo market; “Coconut Grove Boutique Condos”.
One of our preferred projects in Miami. This ultra-luxurious project offers 3 towers with in total less than 300 units. Tower 1 is the most exclusive tower, followed by tower 2. This condo is located in a 5,2 acre waterfront park and offers 50,000 Sq.Ft of amenities, the finest in finishes and superb waterviews.
- 23 Stories
- 289 Units
- 1 – 5+ Bedrooms
- 750 − 5,000 SF+
- Current Pricing starts at $2.1M (Tower 1 and 2 still available)
- Delivered in late 2017 / Early 2018
Grove at Grand bay offers two low-density towers, with 98 spacious, custom homes featuring 12-foot-high, floor-to-ceiling glass and 12-foot-deep terraces. The project distinguishes itself with two twisting, dancing glass towers that allow for panoramic views of Biscayne Bay and the Miami skyline
- 20 stories
- 96 Units over 2 towers
- 58 units in North Tower and 38 in South Tower
- 2 – 5+ Bedrooms
- 2,500 Sq.Ft to 11,000 Sq.Ft.
- Pricing from $1,375,000 to $23,5M
- Project delivered