One Bedroom Home Sells For $1,050,000 | Record Breaking Sale By The Riley Smith Group
When we listed the home located at 3130 Munroe Drive in the gated community of Camp Biscayne, I knew that we would have to find a very unique buyer who would be willing to pay over $1,000,000 for a 1 bedroom home (1,528 sq. ft.). The buyer we were looking for would have to give value to the 22,761 square foot oak-laden lot and appreciate the magical 1920’s bungalow.
Right off the bat we had tons of interest from builders and developers who wanted to tear the home down, however the previous owners had placed an easement on the property which restricted anybody from knocking it down or changing the facade by adding to it. Whoever purchased this home had to keep it in its current condition. We had many people contact their lawyers in attempts to remove the easement, but in the end it was clear that the easement was here to stay.
After just a few months on the market, we found the perfect buyer for the home. Not only did we garner $1,050,000 for this property which is the highest sale for a 1 bedroom home in the history of Coconut Grove, but at $687.00/sq. ft. we also got our clients the highest “sale price/sq. ft.” the Grove has seen this year (non-waterfront).
Congratulations to the sellers and new owners of the home!
Read more here about Camp Biscayne in Coconut Grove.
If you would like to work with a Realtor who specializes in Coconut Grove real estate, call today for a buyer or seller consultation. With over 150 home sales in Coconut Grove since 2010, we know the market here inside and out! Send us a message here.
The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse information regarding the upcoming Grove at Grand Bay new construction project, Coconut Grove’s gated communities, waterfront homes, villas, townhouses, foreclosures plus much more.