With closings nearly complete at the final tower of Park Grove, I wanted to provide an analysis of how resales are going for all 3 of the buildings. As of today, there are a total of 38 units up for resale at Park Grove which makes up 14% of total units. The distribution of condos for sale is as follows: 21 units at The Club Residences, 10 at TWO Park Grove and 7 for sale at ONE Park Grove.
As for the closed sales, there have been 8 units sold in 2020 which is a turnover of 3%.
Park Grove was a collaboration between Terra and Related Group, two of South Florida’s most notable developers. The project was designed by award winning architects OMA and Rem-Koolhaas, and was their first ever residential project in the United States. Park Grove changed the skyline of Coconut Grove and is recognized for its incredible amenities including a 2-acre private park, spectacular pools, outdoor lounges, amphitheater, private screening room, secure wine storage, fitness center/spa, children’s playroom, yoga and a restaurant by Michael Schwartz – a James Beard award winning chef.