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The Resale Values at the Park Grove Club Residences

May 22, 2019

What are Park Grove Residences reselling for?

At the moment of writing this article (May 2019) we have only seen resales at the Park Grove Club Residences.  There have been 4 resales at the Club Residences of Park Grove, ranging from $691 per SF to $940 per SF.

This blog is written to give sellers and buyers a better understanding of the resale values at the Park Grove Club Residences. We will provide you with more information on what they sold for, how long they were on the market for and other specifics of the unit.

2831 S Bayshore Unit #707

 

  • Original Listing Price: $665,000
  • Last Listing Price: $665,000
  • SalesPrice:  $625,000
  • Sales Price per SF: $833 per SF
  • Closing Date: Oct 2018

Unit 707 is a smaller 1 bedroom unit offering 750 SF of interior space. The 07 line has only west-facing city views over Coconut Grove and no water views. The unit was on the market for 64 days before being sold.

2831 S Bayshore Dr # 602

 

  • Original Listing Price: $1,150,000
  • Last Listing Price: $1,150,000
  • SalesPrice: $1,050,000
  • Sales Price per SF: $940 per SF
  • Closing Date: November 2018

Unit 602 is a 2 bedroom unit offering 1,117 adjusted SF. The unit had been on the market for just over a month before being sold. The unit is located on a lower floor, but does offer bay views.  This unit was the highest selling unit at $940 per SF.

2831 S Bayshore Dr # 503

 

  • Original Listing Price: $1,525,000
  • Last Listing Price: $1,525,000
  • SalesPrice: $1,425,000
  • Sales Price per SF: $756 per SF
  • Closing Date: February 2019

Unit 503 is a larger 3 bedroom & Den unit offering 1,886 SF. This is one of the combined, extra-large units; merging a 03 line with a 04 line. This is one of the largest available units, located on a lower floor. The unit does provide for some (somewhat obstructed) bay views.  The unit had been on the market for 44 days before being sold. The sales price per SF was $756.

2831 S Bayshore Dr # 1706

 

  • Original Listing Price:$1,300,000
  • Last Listing Price: $1,150,000
  • SalesPrice:  $1,050,000
  • Sales Price per SF: $691 per SF
  • Closing Date: October 2018

Unit 1706 is a high floor, west facing unit without any water views offering 3 bedrooms plus a den. The unit offers 1,520 Sf  and had been on the market for 61 days before being sold. This unit was sold for $691 per SF, which was the lowest recorded price per SF.  Compare this unit to the sale of 707 for example (smaller unit on a lower floor) and you see there is more than $100 per Sf difference in sales price. The unit’s list price was also more aggressive, leading us to think this was a very motivated seller.

For more information on Park Grove in Coconut Grove contact the David Siddons Group

David Siddons | David@siddonsgroup.com | +1.305.508.0899

David Siddons is a top producing Miami realtor with nearly $100M in yearly sales. He is known as a market analyst and he is the author of Miami’s most groundbreaking and influential real estate reports and forecasts

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