Reggaeton artist Juan Carlos Ozuna has just closed on the spectacular home located at 3812 Park Avenue in South Coconut Grove. Jon Beason, former University of Miami Football player, and retired linebacker for the New York Giants was the seller. 3812 Park Avenue is located in the South Grove on a very private half-acre lot. It offered over 7,000 square feet of living space, 5 bedrooms, 6.5 baths and featured a basketball court, putting green and a luxurious summer kitchen. The home closed for $5,475,000 or $754.00/square foot. Lourdes Alatriste of Engel and Voelkers was the listing agent.
Earlier this year I highlighted 3812 Park Avenue in my Coconut Grove Real Estate Talk because it is a great example of how home prices in the Grove have increased over the years. I represented the seller of this property in 2009, when it closed for land value at $630,000. The Vice Chairman and CEO of City National Bank, Jorge Gonzalez was the buyer. He purchased the lot to build a luxurious new construction home. Just 7 years later in 2016, he sold it for $4,100,000 (or $565.00 per square foot). Between 2016 and 2020, the property appreciated by 33%.
The Luxury Market In Coconut Grove
There have been 4 other homes to close over $3,000,000 in Coconut Grove this year, see details on these properties below. As you can see, at $754.00/square foot the sellers of 3812 Park Avenue made out very well considering it was not waterfront or located in a gated community.
If you’re interested in buying or selling in Coconut Grove, please call us! The Riley Smith Group has been the top producing team in Coconut Grove for over 11 years and would love to assist you with your real estate needs.