Slowdown In The Number Of Home Sales In Coconut Grove

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So far in 2015 there have been 59 single family homes sold in Coconut Grove. During the same time period last year there were 80 single family homes sold. That is a decrease in sales of 26%. The slowdown is due in large part to the rise in prices. Coconut Grove has experienced a rapid increase in values over the past year and it is taking many buyers by surprise. As a result, they aren’t pulling the trigger as quickly as they used to.

These figures should not be a cause for concern, we live in one the most sought-after and unique locations in South Florida and our real estate will always be in high-demand. In the end, the slowdown will be good for the long-term health of the market.

Another interesting fact? Although the number of sales are down by 26%, the volume has only decreased by 15%.

We have been the #1 Top Producing Realtors in Coconut Grove for over 5 years, and know the market inside and out. If you are interested in buying or selling real estate in Coconut Grove, please contact us at 305-342-1623 or send us a message here.

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Just Sold In Coconut Grove | 3025 Blaine Street

3025 Blaine St 35

Congratulations to our clients (we represented both the sellers & buyers) who just closed on the home located at 3025 Blaine Street in the North Grove. This completely renovated home offered high-end finishes such as a double-sided fireplace, wood & marble floors and a top of the line chef’s kitchen with gas range. Walls of windows created dramatic, light filled living spaces. French doors opened to a terrace & tropical garden. The main property offered 4 bedrooms, 4.5 baths with 4,063 square feet of living space on a 10,063 square foot lot.

This was a unique sale because the price also included an adjacent 7,000 square foot lot.

3025 Blaine Street closed for $2,125,000.

3025 Blaine St 6

3025 Blaine St 27

If you are interested in buying or selling a home in Coconut Grove and would like to work with the #1 Top Selling Realtor for over 5 years, please contact me at 305-342-1623 or send a message here. We would love the opportunity to work with you! 

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Just Listed! North Grove Home Offered At $799,000

17th Avenue Collage

We just listed a fantastic home in North Coconut Grove.  Listed for $799,000, the home has been completely renovated (2014) with a new roof, electrical, plumbing, kitchen and impact glass. The kitchen is European style with sleek cabinetry, Jenn-Air appliances and a 6 burner gas range.  It offers 3 bedrooms + den and 2 baths with 1,904 square feet of living space.  The family room opens to the tropical pool with Chicago brick terrace and garden.

This one will go fast, there are only 5 homes in the North Grove listed below $800,000 (and this is the only one of those that has a pool!).  If you are looking for an entry-level home in the Grove that is completely turn-key ready then this is it! Contact our office today to set up a showing 305-960-5318.

Details of 2699 SW 17th Avenue:

  • 3 bedrooms + den, 2 baths
  • 6,600 square foot lot
  • Offered at $799,000

If you are interested in buying or selling a home in Coconut Grove and would like to work with the #1 Top Selling Team for over 5 years, please contact us at 305-342-1623 or send us a message here. We would love the opportunity to work with you!

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Charm Still Sells In Coconut Grove!

4360 Lennox Drive, Coconut Grove

Despite the high demand for new construction modern homes in the Grove, one thing is for sure, charm still sells.  The home at 4360 Lennox Drive in South Coconut Grove has just closed for $775,000 or $335.00/square foot. This was a 2,340 square foot home which offered 3 bedrooms, 3 baths.  Some of the features included a wood-burning fireplace, family room, formal living room, new roof and new A/C.

There are many buyers out there who are looking for a quintessential Grove cottage such as this one.  Buyers who are attracted to this style often like to see Dade County pine floors, fireplaces, formal living room and dining rooms, screened porches and verandas which open to overgrown gardens.

I am thankful that these types of homes still exist in the Grove.  They give our community an eclectic vibe that cannot be found anywhere else in Miami!

If you are interested in buying or selling a home in Coconut Grove and would like to work with the #1 Top Selling Team for over 5 years, please contact us at 305-342-1623 or send us a message here. We would love the opportunity to work with you!

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Prices Of New Construction Homes Going Up In Coconut Grove

2775 Overbrook 18

If you follow the market then you know that there are tons of new construction single family homes being built right now in the Grove. Developers continue to snap up land, build new homes and see a nice return on investment. Their profit margins are up thanks to single family home prices which have risen well above $400/square foot in the Grove.

See below the new construction homes which have closed in the past 12 months; they have sold at an average “sale price/square foot” of $420.00.  Pending sales that are on the books have an average “list price/square foot” of $564.00.  Assuming these properties sell 5-10% off of their list price, the developers are now getting over $500/square foot for their properties. That is quite an increase in a short period of time.

New Construction Home Sales In Coconut Grove | Past 12 Months:

  •  4100 Hardie Avenue | 5 beds/4.5 baths | 4,100 sq. ft. LA | 6,700 sq. ft. lot | Sale Price: $1,690,000 | SP/Sq. Ft.: $390.00
  • 2225 Trapp Avenue | 5 beds/5 baths | 4,741 sq. ft. LA | 6,214 sq. ft. lot | Sale Price: $1,875,000 | SP/Sq. Ft.: $395.00
  • 2526 Lincoln Avenue | 4 beds/3.5 baths | 3,800 sq. ft. LA | 6,250 sq. ft. lot | Sale Price: $1,500,000 | SP/Sq. Ft.: $394.00
  • 2275 Overbrook Street | 4 beds/4.5 baths | 3,767 sq. ft. LA | 5,500 sq. ft. lot | Sale Price: $1,650,000 | SP/Sq. Ft.: $438.00
  • 3763 Douglas Road | 4 beds/3.5 baths | 2,530 sq. ft. LA | 8,500 sq. ft. lot | Sale Price: $1,220,000 | SP/Sq. Ft.: $482.00

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here.

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Live In Paradise At Park Grove | Designed By OMA – Rem Koolhaas

Park Grove is one of the most sought after new-construction projects in South Florida. I have placed several condos at Park Grove under contract for my clients and look forward to introducing the front building which will be launched shortly. A few of my favorite features at Park Grove are: 500 sq. ft. of bay-front pools and pool decks, 80,000 square feet of luxury amenities, spectacular landscaping, and the fact that all of the structural elements of the units will be on the exterior, i.e. no columns on the interior.

Check out Park Grove’s video which gives a little insight into the inspiration behind the project’s architecture and design (with some great shots of Coconut Grove!):

There are still several great investment opportunities available at Park Grove. If you are interested in learning more about this project, please feel free to give me  a call at 305-342-1623.

Park Grove Terrace

Designed by world-renowned architect OMA – Rem Koolhaas, Park Grove will offer 80,000 square feet of luxury amenities:

  • LIVING ROOM LOUNGES
  • ESPRESSO BAR
  • ART GALLERY WITH CURATED EXHIBITS
  • PACKAGE ROOM AND MAIL ROOM
  • RECEPTION DESK WITH 24 HOUR DOORMAN
  • CONCIERGE
  • ART BAR
  • PRIVATE DINING ROOM
  • BUSINESS CENTER AND MEETING ROOM
  • SPECIALTY RETAIL
  • FITNESS CENTER
  • CHILDREN’S PLAYROOM
  • PRIVATE DINING ROOM
  • LIBRARY
  • FITNESS CENTER
  • PERSONAL TRAINING ROOM / YOGA & PILATES STUDIO
  • MIND BODY WELLNESS LOUNGE
  • WHOLE BODY FITNESS CENTER
  • YOGA STUDIO
  • MEN’S LOCKER ROOM WITH HAMMAM AND PLUNGE POOL
  • WOMEN’S LOCKER ROOM WITH HAMMAM AND PLUNGE POOL
  • SIGNATURE SPA WITH TREATMENT ROOMS
  • COUPLES TREATMENT ROOM
  • GAMES ROOM
  • 28-SEAT PRIVATE SCREENING ROOM
  • WINE TASTING ROOMS WITH PRIVATE WINE STORAGE
  • CIGAR HUMIDOR
  • FULL-SERVICE BAR
  • CABANAS
  • POOLSIDE TOWEL SERVICE
  • POOLSIDE DINING
  • OUTDOOR BAR
  • JACUZZIS
  • BAYFRONT SALT WATER POOL
  • PARK GROVE LOUNGE & BISTRO

Learn more about Park Grove by calling me directly at 305-342-1623.

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3 Ultra-Luxury Homes Go Under Contract In Coconut Grove

Luxury Coconut Grove Home

Something must be in the water in Coconut Grove; 3 listings priced over $8,000,000 have gone under contract in the past 30 days. This is great news for the Coconut Grove real estate market because it is evidence that luxury home buyers see value here. There has been one other ultra-luxury home sale so far in 2015, 3505 Main Lodge Drive in Camp Biscayne closed for $11,000,000. To give you an idea of how important these new sales are, last year there were ZERO homes which closed over $6,000,000 in Coconut Grove.

Below is a list of the luxury Coconut Grove homes which have recently gone under contract:

  • 3310 Devon Court | Hughes Cove | Waterfront | Listed by Engel and Voelkers | List Price: $11,900,000
  • 3525 Anchorage Way | The Anchorage | Listed by Mayfair Realty | Waterfront | List Price: $8,950,000
  • 3305 South Moorings Way | The Moorings | Waterfront | Listed by Avatar | List Price: $8,900,000

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here.

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Just Listed In Coconut Grove | 1639 Micanopy Avenue

Micanopy Avenue

This elegant estate on coveted Micanopy Avenue in the North Grove has just hit the market! The home was completely renovated in 2007 with every detail perfectly executed. Some of the special features include living spaces with abundant natural light, volume ceilings, wood & marble floors, a fireplace and impact glass throughout. The luxurious master suite has a spacious sitting area and spa like bath. The eat-in kitchcen with island opens to the adjacent family room. French doors lead out to a resort style pool surrounded by lush tropical gardens. This home has the finest materials and finishes and is definitely one of the best homes currently on the market in Coconut Grove.

1639 Micanopy Avenue

1639 Micanopy-17

A few additional special features of the home include:

  • 2 car garage with Premier Garage finishes
  • Pool heater
  • Lush landscaping with irrigation system and lighting
  • 60 KW Generator with 500 gallon underground propane tank
  • Crown moldings throughout the house and hallways
  • Security Cameras on exterior and interior
  • Renovations in 2007 include electrical, plumbing, bathroom fixtures, kitchen, roof and pool.

Pool at home for sale in Coconut Grove

Details of 1639 Micanopy Avenue, Coconut Grove:

  • 3,631 square feet of living space
  • 8,320 square foot lot
  • 4 bedrooms, 3.5 baths
  • Offered at: $2,085,000

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here.

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Claudia Potamkin’s Grovenor House Condo Sells For $8,100,000

Potamkin Grovenor House

When Claudia Potamkin purchased Unit 3102 at The Grovenor House from Miami fine art dealer Gary Nader back in 2007, it was just a shell of a condo. Together with her design team she spared no expense, outfitting the 6,920 square foot penthouse with the finest of finishes and features. She tore down the drop ceiling to add volume, gutted the master space to create a master suite with sitting room in a “beach escape” motif, and designed the floor-plan to allow for maximum effectiveness and minimum disruption.  Her unit also offered 2,000 square feet of balconies that overlooked the bay, ocean and city.

Potamkin 2

In 2012 she decided to sell her condo and it came on the market at a list price of $9,975,000.  After a few years and several price reductions the condo has closed for a sale price of $8,100,000. Listing agents were The Jills of Coldwell Banker.

Claudia Potamkin is a musician and entrepeneur. Her ex-husband Alan Potamkin is the Co-Chairman of Potamkin Automative Group and has a net-worth of over $150 million.

Details of 2627 South Bayshore Drive, Unit 3102:

  • 6,920 Square Feet Of Living Space
  • 5 Bedrooms, 6.5 Baths
  • Sale Price: $8,100,000

Recent Grovenor House Activity:

In November of 2014, Unit 3001 at The Grovenor House closed for $8,600,000. This unit offered 5 bedrooms, 7.5 baths with 6,970 square feet of living space.

There have been two other closed sales in The Grovenor House this year. Unit 2605 sold for $1,700,000 and Unit 602 sold for $1,540,000.

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here. 

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Ultra-Modern, New Construction Home Just Listed In Coconut Grove

2800 Coacoochee-7

Today I would like to present our newest listing in Coconut Grove. 2900 Coacoochee Street is a new construction, ultra-modern home featuring 6 bedrooms, 4.5 baths with 4,850 square feet of living space. It offers a spectacular blend of space, light and form with 22′ ceilings, and a dramatic glass catwalk overlooking the living areas below. The open kitchen has lacquered cabinetry, a cooking island with gas range, as well as Sub-Zero, Miele and Wolf appliances. A luxurious master suite offers a spa-like bath and private balcony. This home is perfect for entertaining with an outdoor covered terrace, heated pool and spa.

2800 Coacoochee-5

pool cropped

2900 Coacoochee Street is ideally located just minutes from Brickell, downtown Miami and the Grove village center. List price is $2,900,000.

View more photos and information of 2900 Coacoochee Street here.

If you would like to schedule a showing of this property, please feel free to contact our office at 305-960-5318.

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here.

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