Category Archive for ‘Coconut Grove Condos’

Congratulations to our buyers who recently closed on Unit 2302 at The Grovenor House in Coconut Grove. This was a spectacular 4 bedroom, 5.5 bath unit with 4,026 square feet of living space and sweeping views of Biscayne Bay.

The Grovenor House has had 6 sales this year ranging in price from $1,600,000 to $8,600,000.  The average sale price/square foot at The Grovenor House in 2015 is running at $893.00 which is up 9.5% from the previous year.

There are currently 6 units for sale at The Grovenor House, and 4 listed for lease. We have extensive knowledge and experience selling condos at The Grovenor House. If you are interested in buying or selling a unit there, please contact us at 305-342-1623 or send us a message here.

The Coconut Grove condo market continues to thrive in 2015 and most buildings have seen a rise in the average “sale price/square foot” since last year.  The largest increase in value has been at The Grovenor House where prices rose from $816.00/square foot in 2014 to $882.00 in 2015.  Some other interesting figures this year are the large number of units for sale at Yacht Harbor and Grove Isle.  These buildings typically see anywhere from 1-10 units on the market, but both have plenty of inventory with 9 condos for sale at Yacht Harbour and 16 condos for sale at Grove Isle.

Grove Hill remains one of the least active condo buildings in the Grove, but simply because of lack of inventory.  Units rarely come on the market here and residents love the building so much that turnover is extremely low.

Condos will always be in high demand in Coconut Grove because we have so many part-time residents who want to live here.  These buyers want the added security that a condo has to offer and the ability to lock up their units and go.

Check out the charts below which offer a concise recap of the Coconut Grove condo market in 2015:

We have been the #1 Top Producing Realtors in Coconut Grove for over 5 years, and know the market inside and out. If you are interested in buying or selling real estate in Coconut Grove, please contact us at 305-342-1623 or send us a message here. 

You may have noticed that there are a few more tractors along South Bayshore Drive lately. Yes, construction has officially begun at Coconut Grove’s newest luxury condo project “Park Grove”. They may just be moving dirt around for now, but in the blink of an eye there will be 3 new towers  gracing the skyline of Coconut Grove. Designed by OMA-Rem Koolhaus, Park Grove will set a new standard of luxury here in the Grove.

Learn more about the features and amenities of Park Grove here: Live In Paradise At Park Grove

There are still many great investment opportunities available at Park Grove, if you would like to know pricing information, please give me a call at 305-342-1623 or send me a message here.

We have been the #1 Top Producing Realtors in Coconut Grove for over 5 years, and know the market inside and out. If you are interested in buying or selling real estate in Coconut Grove, please contact us at 305-342-1623 or send us a message here. 

Inventory is extremely low at The Grovenor House with just 6 condos on the market for sale. We are working with a buyer who is very interested in purchasing a 3 bedroom in the building and has seen everything that is currently available.

If you have a 3 bedroom unit at The Grovenor House and are thinking of selling (or are a Realtor and have a 3 bedroom pocket listing), please contact us at 305-342-1623 or send us a message here.

Park Grove is one of the most sought after new-construction projects in South Florida. I have placed several condos at Park Grove under contract for my clients and look forward to introducing the front building which will be launched shortly. A few of my favorite features at Park Grove are: 500 sq. ft. of bay-front pools and pool decks, 80,000 square feet of luxury amenities, spectacular landscaping, and the fact that all of the structural elements of the units will be on the exterior, i.e. no columns on the interior.

Check out Park Grove’s video which gives a little insight into the inspiration behind the project’s architecture and design (with some great shots of Coconut Grove!):

There are still several great investment opportunities available at Park Grove. If you are interested in learning more about this project, please feel free to give me  a call at 305-342-1623.

Designed by world-renowned architect OMA – Rem Koolhaas, Park Grove will offer 80,000 square feet of luxury amenities:

• LIVING ROOM LOUNGES
• ESPRESSO BAR
• ART GALLERY WITH CURATED EXHIBITS
• PACKAGE ROOM AND MAIL ROOM
• RECEPTION DESK WITH 24 HOUR DOORMAN
• CONCIERGE
• ART BAR
• PRIVATE DINING ROOM
• BUSINESS CENTER AND MEETING ROOM
• SPECIALTY RETAIL
• FITNESS CENTER
• CHILDREN’S PLAYROOM
• PRIVATE DINING ROOM
• LIBRARY
• FITNESS CENTER
• PERSONAL TRAINING ROOM / YOGA & PILATES STUDIO
• MIND BODY WELLNESS LOUNGE
• WHOLE BODY FITNESS CENTER
• YOGA STUDIO
• MEN’S LOCKER ROOM WITH HAMMAM AND PLUNGE POOL
• WOMEN’S LOCKER ROOM WITH HAMMAM AND PLUNGE POOL
• SIGNATURE SPA WITH TREATMENT ROOMS
• COUPLES TREATMENT ROOM
• GAMES ROOM
• 28-SEAT PRIVATE SCREENING ROOM
• WINE TASTING ROOMS WITH PRIVATE WINE STORAGE
• CIGAR HUMIDOR
• FULL-SERVICE BAR
• CABANAS
• POOLSIDE TOWEL SERVICE
• POOLSIDE DINING
• OUTDOOR BAR
• JACUZZIS
• BAYFRONT SALT WATER POOL
• PARK GROVE LOUNGE & BISTRO

Learn more about Park Grove by calling me directly at 305-342-1623.

When Claudia Potamkin purchased Unit 3102 at The Grovenor House from Miami fine art dealer Gary Nader back in 2007, it was just a shell of a condo. Together with her design team she spared no expense, outfitting the 6,920 square foot penthouse with the finest of finishes and features. She tore down the drop ceiling to add volume, gutted the master space to create a master suite with sitting room in a “beach escape” motif, and designed the floor-plan to allow for maximum effectiveness and minimum disruption.  Her unit also offered 2,000 square feet of balconies that overlooked the bay, ocean and city.

In 2012 she decided to sell her condo and it came on the market at a list price of $9,975,000.  After a few years and several price reductions the condo has closed for a sale price of $8,100,000. Listing agents were The Jills of Coldwell Banker.

Claudia Potamkin is a musician and entrepeneur. Her ex-husband Alan Potamkin is the Co-Chairman of Potamkin Automative Group and has a net-worth of over $150 million.

Details of 2627 South Bayshore Drive, Unit 3102:

• 6,920 Square Feet Of Living Space
• 5 Bedrooms, 6.5 Baths
• Sale Price: $8,100,000

Recent Grovenor House Activity:

In November of 2014, Unit 3001 at The Grovenor House closed for $8,600,000. This unit offered 5 bedrooms, 7.5 baths with 6,970 square feet of living space.

There have been two other closed sales in The Grovenor House this year. Unit 2605 sold for $1,700,000 and Unit 602 sold for $1,540,000.

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here. 

Grove Hill a condo building in Coconut Grove which is very much in demand, but has low inventory at all times. Last year several months went by without even a single unit for sale in the entire building (and there are currently no units available for sale at this moment).  For buyers, it is extremely sought after and when something hits the market it is usually snapped up in a matter of weeks.  In years past I have had clients tell me that they only wanted to live in Grove Hill and would not be willing to buy anywhere else.

Why is the building so popular and have such low turnover? First of all, it is much smaller than some of the other condo buildings in town (just 76 units total).  Second, it is extremely private and secure.  Third, it is known for having very large units with good layouts and expansive balconies. Let’s face it, the residents are happy there and don’t want to leave!

Tip: The units which are most in demand at Grove Hill tend to be those with 3 bedrooms.

There have been just 3 sales at Grove Hill in the past 12 months.

1. 2645 South Bayshore Drive, Unit 804 | 3 Bedrooms, 3.5 Baths | Sale Price: $1,500,000 (Sold in 3 Days!)
2. 2645 South Bayshore Drive, Unit 902 | 2 Bedrooms, 2.5 Baths | Sale Price: $935,000
3. 2645 South Bayshore Drive, Unit 601 | 2 Bedrooms, 2.5 Baths | Sale Price: $910,000

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here. 

If you are considering a second home or investment property in Coconut Grove then you might want to look into buying a condo at The Sonesta.

Why The Sonesta?  Because the numbers make sense.  Values have increased at The Sonesta every year since 2011. Back then condos were selling at an average “sale price/square foot” of $374.00, and today they are trading for an average of $521.00/sq. ft.  Every year there are 20-25 sales which shows that the building is in high demand and that buyers continue to see value here.  Lastly, you can place your unit in the hotel’s rental program while you are not using it and earn additional revenue.

Aside from the stats, The Sonesta is a great place to live full time or part time.  It is in a prime location right in the heart of downtown Coconut Grove.  It has spectacular views of Sailboat Bay, Biscayne Bay and across to Key Biscayne.  The amenities are fantastic with concierge, valet parking, rooftop pool with water views, 2 restaurants, room service, bell service, squash courts and fitness center.

Prices currently start at $275,000.

Click here to scroll through condos for sale at The Sonesta.

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here.

Even with all of the new projects going up in the Grove, The Grovenor House continues to be one of the most sought after condo buildings in town.  The Grovenor House is a 32 story tower  built in 2005 by developer Ugo Colombo and is known for having incredible views, great amenities and features.  We recently represented buyers who purchased Unit 602 at The Grovenor House.  This unit offered 3 bedrooms, 2 baths with 2,333 square feet of living space and was in perfect condition.  The sale price was $1,540,000 ($660.00/sq. ft.).

This is the second sale at The Grovenor House so far in 2015.  The other closed sale was Unit 2605 which offered 2 bedrooms, 2.5 baths and 1,756 square feet of living area. Unit 2605 closed for $1,700,000 ($958.00/sq. ft.).

Last year there were a total of 17 condos sold at The Grovenor House.  These closed for an average “sale price/square foot” of $816.00.

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here.

Over the years we have sold many units at The Mutiny in Coconut Grove, representing both buyers and sellers. Just this week our team member Jessica Adams sold Unit 408 (representing the buyers) which offered 2 bedrooms, 2 baths with 980 square feet of living area for $325,000 as well as Unit 717 (representing the sellers) which offered 1 bedroom, 1 bath with 650 square feet of living area for $200,000.

The Mutiny is one of two condo-hotels in Coconut Grove and it is very desirable among buyers who are looking for an income generating property and/or a second home. Owning a condo here can be a very profitable investment for those who choose to take advantage of the hotel’s rental program. For example,, Unit 717 which we recently sold generated an annual revenue of $40,500 for the owners during 2014.

Another reason that the building is so popular is because  it offers great amenities for its residents and guests such as a heated pool, gym, spa/sauna, restaurant, valet parking and 24 hour concierge. It is also located in the heart of Coconut Grove, just steps from the cafes, shops, movie theater and bookstore.

If you are considering buying or selling at The Mutiny in Coconut Grove, please give us a call or fill out our contact form here.

Interested in learning more about the Coconut Grove real estate market? Read our recent newsletter here!