Grove Isle Is In Limbo – But It’s Not Affecting Sales Or Prices

Grove Isle Email Blast

Many clients have asked me lately about the proposed construction at Grove Isle and whether or not a 4th tower is still in the works. Last year developers got an incredible amount of push-back from residents when they announced the plans for an additional tower.  However, as far as I know the plans for a 4th tower have not even been submitted to the City yet and things seem to have been placed on hold. Good news for residents is that the developers did completely renovate the Grove Isle Club (now called Palmeiras) and have kept the hotel open.

The fact that the island is in a bit of limbo isn’t affecting sales or values. In fact, there has been a run on condos at Grove Isle over the past 30 days.  4 units have sold adding up to a total volume of $4,850,000. These units closed for an average of $491.00/sq. ft. which is well above the average sale price last year that came in at $377.00/sq. ft.

Check out the recent sales below:

  • 2 Grove Isle Drive, Unit B1201 | 3 Bedroom/2.5 Bathroom | Sale Price: $1,600,000
  • 1 Grove Isle Drive, Unit A501 | 3 Bedroom/2 Bathroom | Sale Price: $1,300,000
  • 1 Grove Isle Drive, Unit A1009 | 3 Bedroom/2.5 Bathroom | Sale Price: $1,200,000
  • 1 Grove Isle Drive, Unit A403 | 2 Bedroom/2 Bathroom | Sale Price: $750,000

Click here to view condos for sale at Grove Isle, Coconut Grove.

Interested in buying a condo on Grove Isle? We are specialists in this unique island community and would love the opportunity to discuss the market conditions and benefits of living here. Reach out to us today by calling Riley Smith at 305-342-1623 or by sending us a contact form here.