There’s no question that new construction is in high demand in Miami. Who can resist that sleek, ultra-modern look, with its clean lines and high-end finishes? I’ve blogged a lot about the new construction townhouses in Coconut Grove, which continue to change the landscape of the neighborhood and set new records with their ever-increasing price points. Now, many of those developers are heading north of US-1 just outside of Coconut Grove, where the neighborhood is “transitioning” and land is cheaper. These properties are nearly identical to those in Center and West Coconut Grove, yet priced $200,000-$300,000 less!
The property shown above is located at 2886 SW 32nd Ct., just a few blocks north of Coconut Grove and minutes from Coral Gables. It sold on June 29, 2015 for $536,000 or $244/sf. The listing agent was Graciela Arango-Diaz of Florida Realty of Miami Corp. Check out more photos of the property below:
There are a handful of similar properties currently on the market, which range in price from $559k – $699k. Additionally, as The Real Deal recently reported, a 21 unit townhouse project dubbed “Grove Place” at 2701 Southwest 28th Ave. began selling to friends and family this month. According to TRD, the units will have 3,700 square feet, including a rooftop patio, with an interior size of 2,350 square feet. TRD reports that groundbreaking could take place by the end of 2015 with completion in mid-2017.
Check out some snapshots of the current inventory in the neighborhood, including a rendering of Grove Place, below:
If you’re a visual person like me, you will appreciate the map I prepared below. It lays out where each of these properties is located and gives you some perspective as to the properties’ location to Center Grove and Coral Gables :
If you’d like more information on these and other properties in Coconut Grove and the surrounding neighborhoods, contact me directly at 305-799-2124 or firstname.lastname@example.org.