One of the most common questions I get asked from buyers is “What does a new construction home cost in Coconut Grove?”. Values can be impacted by location, lot size and quality of construction, however, there are several homes that have closed recently which will give you a good idea of what the cost per square foot is for a new construction home in Coconut Grove. As you can see over the past few months, prices have traded anywhere from $2,450,000 all the way up to $5,650,000 with price per square foot (living area) numbers coming in between $620.00 and $810.00.
3230 Crystal Court was designed by one of my favorite local architects Charles Treister. This home had top of the line finishes and a great layout. It offered 7 bedrooms, 7.5 baths, 7,502 adjusted square feet on a 9,375 square foot lot. Although it was fenced and gated, the home was not located in a gated community. It was on the market for 5 months before going under contract and sold for $5,650,000 or $810.00 per square foot (living).
3608 Stewart Avenue is located in the guard-gated community of Entrada Estates and designed by Praxis’ Jose Sanchez. The home offered 7 bedrooms, 7.5 baths with 7,369 square feet of living space on a 15,497 square foot lot. The home was on the market for 7 months before going under contract and sold for $5,350,000 or $726.00 per square foot (living).
4010 Battersea Road was a one story, new construction home in Coconut Grove that offered 6 bedrooms, 6.5 baths with 5,218 square feet of living area on a 20,000 sq. ft. lot and also not located in a gated community. The home was on the market for nearly a year prior to going under contract and closed for $3,400,000 or $651.00 per square foot (living). The home was initially listed for $4,490,000.
4000 Battersea Road was the least expensive new construction home which has sold in the past few months. This home offered 6 bedrooms, 6.5 baths with 3,947 square feet of living space on a 10,598 square foot lot. The home had been on and off the market for over 2 years prior to selling. Sale price was $2,450,000 or $620.00 per square foot (living).
3470 Poinciana Avenue was located in the guard-gated community of Four Way Lodge Estates. This home offered 5 bedrooms, 6.5 baths and was located on a 10,580 square foot lot. It was on the market for just 2 months and closed for $3,800,000 or $804.00 per square foot (living). List price was $4,595,000.
Lastly, 2980 Washington Street in the North Grove. This was a 5 bedroom, 5 bath home with 3,807 square feet of living space on a 6,938 square foot lot. This home was on the market for 9 months prior to going under contract and closed for $2,500,000 or $656.00 per square foot.
It is essential to work with an experienced realtor and attorney when purchasing a new construction home. A builder’s contract can be difficult to navigate and you want to make sure that you are fully protected. Watch my video on the ins and outs of buying new construction homes in Miami.
If you’re interested in moving to Coconut Grove and want to work with a team who has in-depth knowledge of the market here, contact us today. We have helped hundreds of families buy and sell in Coconut Grove and would be happy to assist you!