Grove Isle Continues To Be In High Demand Despite Tough Competition
Although Grove Isle was built in the late 70’s, its unique location and incredible amenities make it very sought after among buyers. This has remained true despite the multitude of newer condo buildings that have been built over the past few years. In fact, Grove Isle has already had more sales in Coconut Grove this year than all of the other major Grove condo buildings combined (Yacht Harbour, Grovenor House, Grove Tower have had zero sales to date).
Last year, there were 22 sales in Grove Isle which came in at an average “Sale Price/Square Foot” of $427.00.
Recent sales at Grove Isle include:
- 1 Grove Isle Drive #A1508 | 2 bedrooms, 2 baths | 1,642 sq. ft. LA | Sale Price: $795,000 The Riley Smith Group represented the buyer in this transaction!
- 1 Grove Isle Drive #A1706 | 2 bedrooms, 2 baths | 1,642 sq. ft. LA | Sale Price: $770,000
- 1 Grove Isle Drive #A1507 | 2 bedrooms, 2 baths | 1,882 sq. ft LA | Sale Price: $707,130
- 3 Grove Isle Drive #C907 | 2 bedrooms, 3 baths | 1,882 sq. ft. LA Sale Price: $600,000
Things are only slated to get better at this one of a kind condo community. There are plans in the works for a 4th tower (sales should be launched in the coming days/weeks) and the Grove Isle Club is getting a complete overhaul. In my opinion, you can’t go wrong by investing at Grove Isle, it is a completely unique location that can never be duplicated and values have proven steady over the years despite fluctuations in the rest of the market.
Riley Smith has been the #1 Top Producing Coconut Grove Realtor for over 8 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.
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