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August 17, 2016 / Johanna Bassols / 0 Comments / Investment Opportunities

Penthouse Available in New Coconut Grove Condo Tower

Grove at Grand Bay, the new condo tower in Coconut Grove was just completed, marking the first new condo project in the area in the last 10 years. According to developer Terra, all 98-units are spoken for, except for a penthouse that is currently listed for $28 million. Domestic buyers make up more than half of the investors.

The condo tower was the first U.S. project for Danish architect Bjarke Ingels, who worked with Miami designer Raymond Jungles on the landscaping. Terra president David Martin recently told the Miami Herald that Grove at Grand Bay is “a sanctuary for artists, writers and unconventional thinkers.” He added that “the Grove has a long history of challenging the status quo – much the same way Grove at Grand Bay is changing the way Miami thinks about design.”

Located at 2675 and 2669 S. Bayshore Dr, the 20-story glass towers set a new record for the community with an average sales price of $1,100 per square foot. Among the prominent buyers are the founder of a Miami-based parking company, a member of a Venezuelan manufacturing family, and an executive at a local financial firm.

Terra is currently working on Park Grove, another luxury project close by, as well as a Renzo Piano-designed project at the northern end of Miami Beach.

For more information about available properties in and around Miami, contact Oceanica Real Estate at (786) 270-1743 or info@oceanicarealestate.com.

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