New Construction Sells in West Coconut Grove for $700,000+

A2074641_201_123035 Elizabeth St. #3037, Coconut Grove, FL 33133
3 beds/3 baths | 2,300 sf | built in 2015 | sold for $729,000 ($317/sf) on 5/29/15

If you’ve been following this blog for some time, you may recall my West Coconut Grove Market Update from about six months back.  At that time, new construction sales had yet to break $700k (as per MLS data), unlike their counterparts in Center Grove which were selling at prices well above that number.  Now, we’re seeing sales in the West Grove reaching $707,000 and $729,000, and a handful of properties with asking prices above $700k are currently pending.  These sales are also notable because they reached $307/sf and $317/sf, whereas the average sales price per square foot in the neighborhood is generally in the $100-$200 range.

If the above photo looks familiar, that’s because you’ve seen me post about other notable sales from this particular developer over the past year.  It should come as no surprise then that both of these $700,000+ sales were from the very same developer.  This new construction model has cropped up all over the Grove, from Orange Street to McDonald to Day Avenue and now Elizabeth Street.  A property on Elizabeth just closed for $729,000 ($317/sf), and a property on Day closed for $707,000 ($307/sf), thus raising the bar (and property values) in the West Grove.  The listing agent for both sales was Silvia Boschetti with BH Realty, LLC.     I have toured these properties multiple times and can attest to their high end designer finishes and open floor plan, ultra-modern fixtures, floor-to-ceiling impact glass, fenced-in backyard with pool, and 950 square foot private rooftop terrace (see photos below).

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A2074641_N01_75 A2074641_I01_22Curious about other real estate opportunities in Coconut Grove? Contact me directly at 305.799.2124 or lindsayrubens@avatarflorida.com.

Market Update: West Coconut Grove Townhouses

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3373 Day Avenue, Miami, FL 33133
3 beds/3 baths | 2,300 sf | New Construction/Built in 2014 | Sold for $690,000

With 2014 coming to a close, I decided to take a look at the market activity this year in the “West Grove” townhouse market (aka the neighborhood of Center Grove that sits west of McDonald/32nd Ave.) – and it’s clear that things are heating up!  Earlier this month, a new construction townhouse (pictured above) located at 3373 Day Ave. sold for $690,000 ($300/sf).   Other notable sales in the neighborhood this year included a pair of new construction townhouses which sold in June for $679,000 each, and are located at 3407 and 3409 Day Ave.  Another sale nearly broke $700k – a townhome at 3060 Indiana St. sold for $695,000 in August.

Looking at the market data below, as well as all of the new construction that continues to break ground in this neighborhood, it’s clear that buyers and developers alike are bullish on the future of the West Grove.  Not to mention that buying new construction in the West Grove gets you a discount of nearly $100k!  Did I mention that two townhouses identical to the property pictured above sold on Orange St. in Center Grove for $780,000 and $760,000 in October?  Here are a few drool-worthy shots of these newly constructed properties.:

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Check out all the data below, including the active listings.  There’s still a handful of new construction available (for now!) – contact me today for more information about buying or selling a townhouse in Coconut Grove.

Active Listings:

Address Sq Ft #Beds #FB #HB List Price LP$/SqFt YR
3059 INDIANA ST # 15 2350 3 2 1 769,000 327.234 2006
3010 ELIZABETH ST # 3010 2802 5 4 0 750,000 267.666 2010
3375 DAY AV # 3375 2300 3 3 0 719,000 312.609 2014
3010 ELIZABETH ST # 3012 2340 5 4 0 700,000 299.145 2010
3379 Day Avenue # 3379 2300 3 3 0 699,900 304.304 2014
3441 SHIPPING AV # 0 3354 3 2 1 699,000 208.408 2015
3243 PERCIVAL AV # 0 2592 3 3 1 689,000 265.818 2014
3241 PERCIVAL AV # 0 2592 3 3 1 689,000 265.818 2014
3115 HIBISCUS ST # 3115 2291 3 2 1 599,900 261.851 2012
3110 OHIO ST # 3110 2400 3 2 1 589,000 245.417 2006
3045 HIBISCUS ST # 3045 1,922 3 2 1 549,000 285.639 2008
3045 HIBISCUS ST # 3047 1,922 3 2 1 549,000 285.639 2008
3275 PERCIVAL AV # 1 2612 4 3 0 548,000 209.801 2007
3056 NEW YORK ST # – 2134 3 2 1 545,000 255.389 2007
3078 NEW YORK ST # 3078 2347 3 2 0 500,000 213.038 2007

Closed Sales (last 12 months):

Address Sq Ft #Beds #FB #HB List Price Sale Price SP$/SqFt Date Sold YR
3373 Day Avenue # 3373 2300 3 3 0 699,900 690,000 300 12/5/2014 2014
3227 MARGARET ST ST # 3227 2521 3 2 1 579,000 550,000 218.167 11/16/2014 2007
3058 NEW YORK ST # 3058 2134 3 2 1 545,000 525,000 246.017 11/6/2014 2007
3034 ELIZABETH ST # N 2164 3 2 1 489,000 400,000 184.843 9/30/2014 2005
3060 INDIANA ST # 3060 3025 3 2 1 725,000 695,000 229.752 8/18/2014 2006
3072 NEW YORK ST # 3072 2347 3 2 1 589,000 560,000 238.602 8/11/2014 2007
3191 OHIO ST # N/A 3858 6 4 2 975,000 925,000 239.762 7/24/2014 2007
3168 OHIO ST # 3168 2121 3 2 1 522,000 495,000 233.38 7/7/2014 2006
3063 INDIANA ST # 16 2350 3 2 1 650,000 630,000 268.085 6/24/2014 2006
3407 DAY AV # 0 3800 3 2 1 699,000 679,000 178.684 6/23/2014 2014
3409 DAY AV # 0 3800 3 2 1 699,000 679,000 178.684 6/23/2014 2014
3318 DAY AVE # 10 2400 3 2 1 525,000 525,000 218.75 5/29/2014 2013
3318 DAY AVE # 8 2400 3 2 1 499,000 499,000 207.917 5/23/2014 2013
3411 DAY AV # 3411 2232 3 2 1 535,000 517,000 231.631 5/21/2014 2008
3318 DAY AVE # 1 2400 3 2 1 525,000 525,000 218.75 5/20/2014 2013
3318 DAY AVE # 6 2400 3 2 1 525,000 525,000 218.75 5/16/2014 2013
3318 DAY AVE # 5 2400 3 2 1 525,000 525,000 218.75 5/16/2014 2013
3318 DAY AVE # 3 2400 3 2 1 499,000 499,000 207.917 5/15/2014 2013
3318 DAY AVE # 9 2400 3 2 1 518,000 518,000 215.833 5/14/2014 2013
3318 DAY AVE # 4 2400 3 2 1 499,000 499,000 207.917 5/14/2014 2013
3318 DAY AVE # 2 2400 3 2 1 499,000 499,000 207.917 5/9/2014 2013
3318 DAY AVE # 7 2400 3 2 1 499,000 480,000 200 5/8/2014 2013
3148 OHIO ST # 3148 2206 3 2 1 439,000 439,500 199.229 4/10/2014 2007
3142 OHIO ST # 3142B 2400 3 2 1 589,900 579,000 241.25 3/31/2014 2006
3250 DAY AV # 3250 4505 3 2 1 549,000 522,500 115.982 3/1/2014 2008