The home located at 3579 Stewart Avenue in the gated community of Entrada Estates has just closed for $4,120,000 ($784/sq. ft.). This is the first waterfront sale we have seen all year in Coconut Grove, and is the highest “sale price/square foot” we have experienced this year as well. The home was located on a 19,500 square foot lot with 5,252 square feet of living area and offered 5 bedrooms, 5 baths. The home was finished in a casual Polynesian style and had incredible entertaining spaces overlooking the canal. There were no bridges to the bay. Broker was Rose Realty.
Last year there were 8 waterfront sales which closed at an average of $7,900,000 and $878.00/square foot (these figures include both direct bay and canal front homes).
There is currently just 1 waterfront home in Coconut Grove that is under contract. That home is located at 3333 South Moorings Way and in the gated community of The Moorings.
The Riley Smith Group has been the #1 Top Producing team in Coconut Grove for over 7 years and knows the market inside and out. If you would like to buy or sell real estate in Coconut Grove, please contact us at 305-342-1623 or send us a message here.