The home located at 3505 South Moorings Way has just closed for $4,770,000 or $503/sq. ft. This is the first closed sale in the guard-gated community of The Moorings during 2016. It is also the highest sale price on record for a “non-waterfront” home in Coconut Grove (the second highest was 3410 Poinciana Avenue which closed in December of 2015 for $4,500,000).
Although $503/sq. ft. is low for this community, you have to take into consideration the size of the house which was 9,481 sq. ft. When a house is so large it is difficult to value based on a “price/sq. ft.” basis because it reaches a point so high that the number doesn’t make sense for buyers. This was a beautiful home with 7 bedrooms, 7.5 baths on a 25,000 square foot lot designed by renowned architect Phineas Paist. Listing agent was Toni Schrager of Avatar.
We have been the #1 Top Producing Realtors in Coconut Grove for 7 years, and know 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.