New Construction Home Closes on Tigertail Avenue
This house was featured last week in my post titled “New Construction Homes In Coconut Grove”. Turns out the home was actually under contract but the real estate brokerage company never listed it as a Pending Sale (some companies don’t ever change the status until the home closes).
The home sold today for a price of $1,260,000 ($291.00 per square foot). It was a 4 bedroom, 4.5 bath with 4,322 square feet of living area on a 6,250 square foot lot.
I track every sale in the Grove and the recent sales trend for new construction homes in Coconut Grove has been $300+ per square foot. In my opinion, the reason this one sold below that number is due to the fact that (1) It was located on a busy part of Tigertail Avenue, (2) There was virtually no land (3) The house is not gated and has little privacy from the street and (4) The finishes were not as good as other new constructions currently on the market.
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