Park Grove – Coconut Grove

Brickell, Edgewater and other suburban cities around Miami are not the only areas in Miami-Dade County where developers are setting their sights.  In Coconut Grove, top developers, Terra Group and Related Group have joined forces to develop another great condominium community – Park Grove.  Being pegged as the perfect alternative to the sold out Grove at Grand Bay (just happens to be next door), Park Grove is an ultra-luxurious three-tower condominium situated right on the Bay with glorious water and city views from all vantage points.  Park Grove will bring 298 new residences to the oldest community in South Florida offering potential buyers the ideal spot to land whether downsizing is the plan or finding the perfect spot to spend part of the year. 

Tentatively slated to start construction in early next year, the three towers will be built in phases.  In addition to the residential towers, also slated is a bank and multi-level clubhouse with public amenities.  Park Grove is taking Coconut Grove real estate to the next level making it destined to be a sought after condominium in the Grove.

Parties Involved in Making It Happen

Coconut Grove’s own Terra Group has partnered with Miami’s hot-shot developer, The Related Group, to develop Park Grove.  Together, they have tapped one of the most revered architectural firms, OMA headed by partners Rem Koolhaus and Shohei Shigematsu to create and bring to life Park Grove.  From there, they have world-renowned interior designer, William Sofield, and international landscape architect Enzo Enea to give the new condominium its style and grace.   

Location of Park Grove

Situated on 5.2 acres of Bayfront property, Park Grove’s address is 2701 Bayshore Drive across from Dinner Key Marina in the heart of Coconut Grove.  It is also within walking distance to high-end shopping and dining for which Coconut Grove is known.   

Coconut Grove is the oldest town in Miami Dade County and is filled with so much history as well as sites to see including Vizcaya Museum and Gardens, Barnacle State Park, and some of the best shopping in the area.

Park Grove Highlights

Included in the Park Grove project are “50,000 amenities” according to the developers’ literature.  To highlight the community amenities, LEED-certified Park Grove offers residents expansive Bay and city views, 24-hour concierge and valet service, butler service, business center with meeting rooms, rooftop pools with private cabanas, dedicated penthouse pools, wine cellars and lockers for residents, areas dedicated for yoga, state of the art fitness centers, integrated media systems library, exquisitely designed common areas and building lobbies, adult gaming room with billiards and ping pong, and so much more.  Probably one of the most notable amenities may be the extensive art collection planned for the common areas which is not surprising considering Jorge Perez is one of the primary developers.

Property owners will enjoy open and airy residences with walls of windows, gourmet kitchens with high-end appliances, fixtures and finishes, large bedrooms and wide balconies with spectacular views.  The features are endless and make it obvious why this will become such an exclusive address. 

Real Estate at Park Grove

Reservations are being taken for the buildings with construction expected to start sometime during the first couple of months in 2015.  All three towers will have 20 floors with two towers housing only 72 units in each one and another Club Residence comprised of 140 units. 

In Tower 2 (the first of the premium tower to be built), there are only four floor plans from which to choose with sizes ranging from just over 2,200 square feet for a two-bedroom property to almost 3,600 square feet for a four-bedroom, five and a half bath residence.  List prices start around $2.5 million and climb to almost $5 million.

For the Club Residence (Tower 3), sizes are smaller and more affordable with 750-square foot, one-bedroom, one-bath units starting in the mid-$500s; two-bedroom units priced from the mid-$700s to over $1.2 million; and finally, three-bedroom units priced from the mid-$900s to about $1.5 million.

It is worth noting that about 30 percent of Tower 2 is reserved with about 20 percent of the Club Residences reserved.  For reservations, 10% is due followed by another 10% at contract.  From there, another 10% is required at ground breaking and 10% at residence floor.  Finally, 50% is due at closing.

Unbelievable Luxury

Park Grove is going to be an unbelievable property and very popular especially considering the Grove at Grand Bay is sold out.  Let us set up a private tour at the sales center.  We promise that Park Grove will amaze you.  It is Coconut Grove real estate at its finest.