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. 

Holiday Shopping in The Gables and Coconut Grove

Many residents live in the Coral Gables and Coconut Grove areas because of the luxury atmosphere that exists throughout the beautiful neighborhoods and Coral Gables condominiums.  One of the most appealing qualities of Coral Gables is how “walkable” it is.  So many residents and visitors love to walk along the Miracle Mile or to the Village at Merrick Park. 

As we head into the holidays, Coral Gables and Coconut Grove are very popular places for shopping, dining and fun.  Following are the best venues for shopping and fun throughout the holidays:

CocoWalk

Shops, restaurants and exciting entertainment await visitors to CocoWalk.  As an upscale open-air shopping center, CocoWalk has so much to make it easy to spend a day or two (or three) shopping and enjoying all the sights.  No matter who is on your Christmas list, you can find the best presents at any of the shops at CocoWalk.  A nice benefit of shopping at CocoWalk is that you can shop at national retailers like the Gap and Victoria’s Secret as well as unique local shops such as Guayabera World.  Additionally, there are so many restaurants from which to eat while shopping or get gift certificates for those “hard to buy for” friends and family members.  Simply walking through the shopping center instills the spirit of the holidays into everyone there.  For area residents and guests, CocoWalk is located in a very cool area of South Florida that is close to many of the nicest Coconut Grove condominiums and makes shopping during the holidays that much more fun.

Miracle Mile

The Miracle Mile is all about shopping and dining as well as arts and culture.  It is one of our favorite places to go even if it is just want to window shop and people watch.  This high-end district is what makes Coral Gables what it is.  During the holidays, there are always events happening at different shops as well as outside along the street.  The Miracle Mile is full of local shops that cater to those who demand a high level of quality and customer service and are willing to pay for it.  To make the season more fun, the shops in Downtown Coral Gables and along the Miracle Mile are taking their decorating to a whole new level with a contest to see which business is the best decorated.  Everyone is invited to participate as a judge to determine the best decorated store front.  Along with selecting the winning business, those who judge are registered to win a $100 Downtown Gables gift certificate.  From exclusive spas and salons to haute couture boutiques to playhouse theatres and elegant cafes and restaurants, there is tons of excitement during the holidays on the most beloved street in all of Coral Gables. 

Village of Merrick Park

Not only is the Village of Merrick Park located in an historical part of Coral Gables, it is another top shopping destination for Christmas gifts.  Like CocoWalk, you can shop at national retailers or local shops.  And, along with excellent restaurants, there are spas and salons as well as a movie theatre and more.  On top of all it has to offer, the Village of Merrick Park has lots of activities going on throughout the season.  One of the best ideas is the Holiday Sweepstakes where people can register to win huge prizes.  Additionally, the shopping center has extended holiday hours for those who shop at night.  The Village of Merrick Park is a wonderland of shopping during the holidays and it is a place where you can find something for everyone.  On top of this, it is the easy for those who own Coral Gables real estate in the heart of the city to shop at the Village of Merrick Park simply because of the location.

Enjoy the Holidays in Coral Gables

If you are seeking a great way to enjoy the holidays in Coral Gables, add shopping at our unbelievable centers.  Not only do the residents enjoy spending time at our favorite destinations, they love participating in the contests and events that make the season so magical.

The Urban Villas at the Grove – An Enclave of Exclusive Luxury

Talk about a crème de la crème community!   The Urban Villas at the Grove is the embodiment of exclusive luxury with only four large townhouses situated in the tiny enclave.  Situated in a part of Coconut Grove where small townhouse communities are becoming the norm, the Urban Villas at the Grove adds to the revitalization of Coconut Grove real estate in the area.  Under construction, completion is tentatively set for early 2014 for the three-bedroom, two-and-a-half bath homes.

Location

The Urban Villas are located in the center of Coconut Grove with parks and other Coconut Grove highlights within walking distance or a really short drive.  Coconut Grove has a lot of history as it is the oldest continuously inhabited city in Miami-Dade County.  It is adjacent to Coral Gables and only about 15 minutes from Brickell and Downtown Miami. 

Amenities of the Urban Villas at the Grove

Contemporary elegance is the perfect description of the Urban Villas at the Grove.  In an area of Coconut Grove where the classic Mediterranean architecture is the character of most of the surrounding homes, the Urban Villas stand apart from the rest with sleek lines and an modern appeal.  There are high ceilings, formal living and dining rooms, and the finest details throughout the each home.  The two- residences feature three bedrooms and two-and-a-half baths and upper floor balconies.  The master is large and includes a master bath with dual sinks, spa tub & shower, and a bidet. The gourmet kitchen is large and has stainless steel appliances, granite counter tops, and beautiful contemporary custom cabinetry along with a center island. Outside, each home has a pool with a covered patio and deck as well as tropical landscaping, electronic security gates and more.  Along with the one-car garage, there is room for additional parking.

Real Estate at the Urban Villas at the Grove

Each residence in this exclusive enclave encompasses 3,800 square feet of living space.  With the Urban Villa's scheduled completion in early 2014, each is listed at $699,000.  Real estate list prices and home values in the immediate vicinity vary with some starting as low as the mid-$200s for older, smaller properties in need of major overhauls to over $700K for newly constructed homes within a few blocks. 

Bringing a New Appeal to an Established Area

The Urban Villas at the Grove is bringing a new appeal to an established area in Coconut Grove.  These townhouses convey a contemporary flair that adds a sense of beauty and sophistication.  Coconut Grove real estate offers some of the most exclusive and sought after properties in all of Miami-Dade as well as Florida.  With more and more projects in the works, this part of Coconut Grove is getting a wonderful makeover. 

Top Five Coconut Grove Real Estate Listings Under $1 Million

Coconut Grove is well known for its beautiful homes and elegant condominium properties.  While this is a very exclusive community where many area celebrities and athletes live, it is also a favorite of local South Florida residents who have the ability to afford high-end real estate.  Following are the top five Coconut Grove real estate listings under $1 million. 

Coconut Grove Homes for Sale

4070 Hardie Avenue, Eleda, List Price:  $970,000

For buyers who love character and charm, this classic Key-West style home has four bedrooms and three baths under 2,716 square feet.  Built in 1945, the home has recently had major renovations in 2009 and features a perfectly balanced combination of an updated modern look with an old Florida charm.  The floor plan is absolutely perfect maximizing space with a nice flow from room to room.  With three bedrooms upstairs including the master and one bedroom on the first floor, there is definitely room for guests.  Some of the highlights include beautiful wood beam vaulted ceilings and bamboo floors in every room.  The kitchen is magnificent with a contemporary design and tons of counter space.  It is a chef’ dream kitchen and has high end appliances and cabinetry.  The second-floor master suite is huge with a custom-built walk-in closet and large bath.  This is a glorious home in a one of Coconut Grove’s well-sought after neighborhoods.

3350 SW 27^th Avenue, Ritz Carlton Residences,

The Ritz Carlton Residences are situated on the waterfront with wonderful bay and city views.  They feature floor to ceiling windows and fantastic kitchens with granite counter tops and high-end cabinetry and appliances.  Residents enjoy all the five-star amenities of the Ritz Carlton Hotel including valet parking, concierge and in-room dining.  The pool and surrounding pool deck have a resort atmosphere with cabanas, cushioned lounge chairs and full-service extras. 

RitzCarlton Residences for Sale

#1204, List Price:  $925,000

#1406, List Price:  $895,000

Irvington Homes for Sale

3845 Irvington Avenue, Irvington, List Price:  $915,000

Another beautiful Coconut Grove home, this classic Florida bungalow offers a balanced mix of old and new on a quiet well-sought after kid-friendly street in a popular neighborhood.  The home has vaulted ceilings and wonderful fixtures and finishes that make this home outstanding.  The master suite is large and had a fireplace.  French doors lead out to a great outdoor area with a pool surrounded by tropical landscaping and a wonderful area for entertaining.  One of the best features of this property is the mature landscaping that surrounds the home.

3670 SW 37^th Avenue, Irvington, List Price:  $849,000

Here is a huge opportunity to own a large, 3,300+ square-foot home at a lesser price than similar homes in the neighborhood with this short sale.  This Mediterranean-style home has tons of high-end features like custom details, surround sound throughout the home, a great kitchen with granite counter tops, an island workspace/breakfast bar, and stainless steel appliances.  The master suite has a steam and Jacuzzi and a balcony overlooking an exquisite backyard.  Surrounding the pool is a lovely entertaining area with lush tropical landscaping. Situated in a quiet neighborhood, this is a great family home. 

Lots of Options for the Price

Coconut Grove real estate offers lots of options for the price.  Whether it is a home in a condominium or on a wonderful Coconut Grove street, buyers can easily find what they want for under $1 million.

Grove Isle Condominium -- Coconut Grove

Grove Isle is a tropical oasis situated just off the northern end of Coconut Grove on a 20-acre island that juts out into Biscayne Bay.  With 24-hour manned, gated security, this secluded piece of paradise is the epitome of Old Florida.  As a self-contained island, Grove Isle features a resort, restaurant and more in order to create quiet retreat from all of the activity in Miami.  This is definitely a very well sought after address in terms of Coconut Grove real estate.

Buildings

Built between 1979 and 1981, Grove Isle Condominiums includes three 18-story buildings with a total of 510 residences in all three buildings.  The three buildings house residences of different sizes: Tower One features two, three, and four-bedroom units that range between 2,614 square feet and 5,012 square feet; Tower Two houses two and three-bedroom units that are 1,642 square feet to 2,424 square feet; and, Tower Three has the most variety with one to six-bedroom residences ranging from 1,404 square feet to 5,812 square feet.

Grove Isle Location

A short distance out into the Bay from Coconut Grove, Grove Isles Condominiums is perfectly situated to be the focal point on the man-made island.  This idyllic condominium is located just minutes from historic Coconut Grove and Dinner Key Marina as well as Cocowalk and the Magnificent Mile.  Brickell, the Design District and the beaches are only about 15 minutes away allowing residents to frequent these areas while still escaping to a tropical paradise.

Grove Isle Amenities

Grove Isles Condominiums offer the utmost in quality extras when it comes to amenities.  When it comes to community amenities, first and foremost, there is manned gated security at the entrance to each building.  From there, there is 24 Hour Valet Parking; a state of the art fitness center; Spa Terre; a heating outdoor pool overlooking the Bay; an 85-slip marina for boat and yacht owners; a tropically-landscaped jogging path; a US Open Hard Court tennis court and 11 Har-Tru clay courts; dry cleaning and baby service; and, more. 

Inside each residence, because the buildings are up to 15 years old, many have been updated and remodeled to give them a modern look.  It is not uncommon to see more individuality in the design, updated gourmet kitchens with high-end appliances, upscale fixtures and finishes including marble floors, sleek lighting fixtures, and so much more.  A common design element throughout every home is the floor to ceiling windows that showcase the amazing views of the Bay, city and even out into the Atlantic Ocean creating a huge “WOW” factor every time you enter each room.

Grove Isle Real Estate

Grove Isle real estate is always in demand.  Where most buildings have about 5-10 percent of the residences for sale, Grove Isle has only a mere one percent on the market.  List prices fall between about $600K and over $1.2 million. 

So far, this year, 11 properties have sold with an average sale price of about $650K.  Most of the properties were listed between the mid-$400s and mid-$700s with only two properties listed over $1 million. 

With Coconut Grove rentals, Grove Isle properties come on the market every so often and are available on an annual basis.  Currently there are two-bedroom properties available with rental rates falling between $3,400 and $3,800 per month. 

Old Florida Style with a Modern Twist

Grove Isle Condos offers old Florida style with a modern twist for Coconut Grove real estate.  Each residence has its own flair and character to appease the tastes and desires of Coconut Grove condominium buyers.  This is a wonderful place to call home and probably never leave.

Favorite Places in Coral Gables

Coral Gables is often known as the “city beautiful.”  After one visit, it is easy to see why people love coming to this beautiful city.  The city is full of the best places to shop, dine and enjoy the arts and cultures for which this area is known.  From meandering along the Magnificent Mile to spending the day at Cocowalk in Coconut Grove, there is so much to do that the list can easily grow long.  In an effort to highlight some of the most popular and well known spots, following are some the community’s most favorite hot spots for visitors and newcomers to Coral Gables.

Miracle Mile

Coral Gables is known, first and foremost, for the Miracle Mile.  Situated in the center of the business district of Coral Gables, the Miracle Mile refers to a section of Coral Way between LeJeune Road and Douglas Road.  It is filled with local eateries, high-end shops, and art galleries that make walking a pleasure.  Many residents of Miami and other parts of Miami-Dade come to Coral Gables to eat and shop along this stretch. Some of the favorite stops are Red Koi Thai and Sushi Lounge, Hillstone, and Tarpon Bend Food and Tackle for dining, and MiArte and Actors Playhouse for arts and entertainment.  The businesses and property

owners who live and work along the Miracle Mile work hard to make it a destination with festivals, art exhibits and more throughout the year. 

In terms of Coral Gables real estate, there are several upscale, luxury condominiums located on Coral Way and within several blocks that are ideal for those who want to be near the Miracle Mile.  From boutique buildings like Gables on the Green and Gables Park Tower to exclusive condominiums like Segovia Tower to larger condominiums like Ten Aragon, there is property to fit many budgets with list prices starting in the upper-$200s and climbing into the multi-million dollar ranges.

Village of Merrick Park

The Village of Merrick Park is what developers like to call an upscale lifestyle center.  In essence, this gorgeous mall, built in 2002, is Coral Gables’ quintessential shopping center with all of the upscale national retailers like Nordstrom, Tiffany, Gucci, Jimmy Choo and more.  Here, residents and visitors spend tons of time shopping and dining at well-known national, regional and local restaurants like Villagio, Café Bistro at Nordstrom and others not to mention working out at world famous Equinox Fitness. 

For residents who want enjoy all that the Village of Merrick Park has to offer, there are several Coral Gables condominiums and neighborhoods within a short walk.  Two very popular communities are 55 Merrick and One Village Place each with list prices starting in the mid-$300s and offering all the amenities of a five-star resort.  Another building set to be completed in 2014 is Merrick Manor which is adjacent to the Villages of Merrick Park.  In this building, residence list prices will start in the upper-$100s and feature updated and elegant homes as well as amazing amenities for residents and guests.  As for single family homes, there are many homes on streets that surround this growing area of Coral Gables. 

Cocowalk, Coconut Grove

Cocowalk is a wonderful outdoor mall of sorts with all of the popular retailers seen at most any high-end shopping center.  As a destination by many who visit and live in the area, Cocowalk offers tons of activity in addition to shopping and dining to create a very relaxing and happy environment.  Afternoon concerts on the piazza are a regular occurrence as are other events tied to different holidays and activities.  While many of the businesses are regional and national companies, people love coming out to Cocowalk to relish the outdoor atmosphere while enjoying a cigar from Coco Cigar or a Venti Iced Latte from Starbucks. 

Because Cocowalk is situated in the center of the community, Coconut Grove real estate is plentiful for all types of buyers.  The Moorings and The Anchorage, exclusive gated communities; luxury condominiums like the Ritz Carlton Coconut Grove and Grovenor House; and, secluded townhome communities like Cloisters on the Bay are all within a short drive or even walk from Cocowalk.   Investors see the draw to Coconut Grove and want to bring more residential development to the area with luxury projects like the Grove at Grand Bay.  Because Coconut Grove is a more exclusive area of Miami-Dade County, the area is in high-demand and offers many buyers the opportunity to buy with list prices starting in the upper-$200s and surpassing $10,000,000. 

A Great Place to Live

Coral Gables is a great place to live.  Residents and visitors from all over Miami-Dade County love to come to the Gables to enjoy all it has to offer.  For those who choose to call Coral Gables home, it is a city filled with so much.  Outside the most popular places to go, there are some hidden treasures to find which makes it obvious why Coral Gables is the City Beautiful.

Top Five Coconut Grove Rentals Under $10,000 Per Month

Coconut Grove is a very popular location for those who spend extended amounts of time in South Florida.   Rental properties are very prevalent in Coconut Grove and are available on seasonal and annual leases at rental rates from as low as $1,200 per month to around $20,000 per month.  Following are the top five Coconut Grove Rentals under $10,000 per month.

3672 Bayview Road, Ewanton Heights, Montly Rental:  $8,850

Situated on a 19,000+ square foot lot, this privately gated home has so much character.  It was built in 1922 and has been restored to combine the original details with an updated and modern twist.  Large rooms feature walls of classic window-pane windows that showcase the perfect landscaping and unbelievable pool and koi pond with waterfall.  The remodeled kitchen is a chef’s dream with high-end stainless steel appliances and lots of workspace on granite counter tops.  The entire property also includes two-bedroom/one-bath cottage in addition to the three-bedroom/three-bath main home.  This home is the epitome of style and refinement.

1 Grove Isle Drive, #A1801, Grove Isle Condominium, Monthly Rental:  $8,500

This is definitely one of the most beautiful spots in Coconut Grove on Grove Isle.  This gorgeous residence at Grove Isle Condominium is perfectly decorated with marble floors throughout the home, a gorgeous master bedroom and spa-like master bath, a gourmet kitchen with high-end appliances, and breathtaking views from the fully rebuilt balcony and windows in every room.  This furnished home is close to Coconut Grove’s historic district as well as famed Cocowalk.

2627 South Bayshore Drive, #706, Grovernor House, Monthly Rental:  $5,500

Grovenor House is one of Coconut Grove’s most prominent residences.  This home features beautiful bay views from the expansive terraces.  The contemporary designed kitchen includes gorgeous granite counter tops and Sneidero Italian cabinetry.  Grovenor House features wonderful amenities including a heated infinity pool, state of the art fitness center, 24-hour concierge and valet, tennis courts, children’s play area and more.  Residents enjoy living within walking distance to Dinner Key Marina, area parks, restaurants and Cocowalk.  This rental is available unfurnished on an annual lease.

2507 Trapp Avenue, Ocean View Heights, Monthly Rental:  $4,500

This is a beautiful seasonal-rental in Coconut Grove with three bedrooms and two baths.  It is beautifully decorated with a warm and comfortable atmosphere.   Two bedrooms open up to terraces and the warm Florida sunshine.  Perfect for snowbirds who spend the winter in Florida, this home is a short drive from Cocowalk and Dinner Key Marina as well as Brickell and Miami Beach.  

3400 SW 27^th Avenue, #307, The Tower Residences, Monthly Rental:  $4,500 

To live at the Residences at The Ritz-Carlton in Coconut Grove is to live in luxury.  Not only does the residence offer all the amenities at the Ritz-Carlton, it features an extraordinary and contemporary design with high-end fixtures and finishes throughout the residence.  Rooms are spacious and flow from one to another.  Along with an expansive balcony and patio areas, the two-bedroom/two-bath home is offered furnished on an annual lease and is available immediately. 

Lots of Options

For those interested in Coconut Grove rentals under $10,000 per month, there are lots of options from which to choose.  Whether the desired property is a single family home or residence in a condominium, this exclusive community in Miami-Dade County is the perfect place to spend an extended amount of time as it is close to everything but just far enough away to allow a quiet and secluded lifestyle.

L'Hermitage -- Coconut Grove

L’Hermitage is a wonderfully secluded townhome community in the Coconut Grove section of Miami-Dade County.  This exclusive enclave has only 75 Mediterranean style townhomes with many of them facing out onto Biscayne Bay.  Constructed in the early 1980's, the townhomes features clusters of eight to 10 residences around cul-de-sacs throughout the community.  L’Hermitage real estate appeals to those who want to feel like they still live in a single family home but have the conveniences of living in a condominium style community. 

Location

Located in in Coconut Grove, L’Hermitage is situated along Biscayne Bay.  L’Hermitage is just a short drive to Coconut Grove’s historic district and excellent shopping and dining at the famed CocoWalk.  It is tucked away from the hustle and bustle in its own tranquil and tropical setting. 

Coconut Grove is just five minutes away from Brickell, 15 minutes from Miami International Airport, 10 minutes from Coral Gables’ famed Magnificent Mile and only 15 minutes from Key Biscayne and Miami Beach.

L’Hermitage Amenities

A lot of amenities come with living in L’Hermitage Coconut Grove that adds to the comfort of living in this exclusive community.  From the beautiful gated entrance with a 24-hour guard to the tennis courts, private docks and community pool with tropical landscaping, residents have all the niceties of living at a five-star resort. 

Individual residences are designed like a Mediterranean Villa right down (or up as the case may be) to the Spanish tile roofs.  The three story residences feature main living areas on the second level with two-car garages and an additional living area on the first level and bedrooms on the third level.  Some of the larger townhomes even have elevators.  While many of the residences have been remodeled or updated, every residence has tons of space with total square feet between

approximately 3,400 and just over 4,000.   Not only do they have large master suites and gourmet kitchens with updated appliances, they have the most inviting screened in patios ideal for morning coffee or afternoon tea.  Because the homes are individually owned, each one has an individual style and design elements.

L’Hermitage Real Estate

L’Hermitage Coconut Grove real estate offers a level of exclusivity found in only the most elite townhome communities in Miami-Dade County.  This is a very popular community with buyers wanting a second home in South Florida, international buyers who conduct business in the area and retirees who have relocated or downsized from larger single family homes.  Even though most of the homes are owner-occupied, this is an excellent opportunity for investors who desire to own Coconut Grove rental property at L’Hermitage. 

List prices typically start at about the $1 million mark and climb to over $2 million depending on the size, location in the community and the view.  In 2012, three units sold with sale prices ranging from the upper $900s to over $2 million.  In terms of additional costs for homeowners, there is a monthly HOA fee fluctuating between $1,100 to over $3,400 (subject to change).

As for Coconut Grove rental property, occasionally, there are opportunities to rent property at L’Hermitage Coconut Grove.  When these properties come available, they are typically swiped up in the blink of an eye.   When there is a rental property, monthly rental rates usually fall between $5,000 and $8,000.

A Secluded Tropical Oasis in Coconut Grove

Coconut Grove, in and of itself, is a very chic and exclusive part of Miami-Dade County.  L’Hermitage offers a secluded tropical oasis within Coconut Grove.  It is easy to see why so many have the desire to live here.  When the opportunity arises, buyers who want the convenience of a condominium, lean towards L’Hermitage real estate because they get the best of both worlds.   

Mutiny Park -- Coconut Grove

Mutiny Park is a beautiful condominium in Coconut Grove that was built in 2001. With 22 stories and 211 condominium residences, Mutiny Park lends itself more as a boutique Coconut Grove condominium because of its warm and inviting atmosphere.  Its setting in Coconut Grove only adds to the ambiance of living at Mutiny Park. 

Developed by the Flagler Group, which also developed the Meridian in South Beach, Mutiny Park was built in conjunction with the Sonesta Hotel as one of the area’s first condo-hotel projects in Miami-Dade County.  In a 2001 Miami Today article, Ricardo Dunin, President of the Flagler Group, stated that "condo-hotels such as Mutiny Park are in great demand among South Americans and Europeans who travel here frequently."  The success of this initial project by the Flagler Group was evident before construction was completed when about 65 percent of the units were sold at top off.  

Location
Located at 2889 McFarlane Road, in the heart of Coconut Grove, Mutiny Park is situated in an ideal location within walking distance to Dinner Key Marina, Coco Walk and all that Coconut Grove has to offer.  Coconut Grove real estate appeals to many area celebrities and professional athletes as it is an exclusive part of Miami-Dade County that offers residents a quaint atmosphere and lots of privacy.   As a village within the city of Coral Gables, it is a top destination for anyone living or visiting in the area.

Amenities
Homeowners at Mutiny Park enjoy the use of the Sonesta Hotel’s amenities that include a resort-style swimming pool and luxurious pool deck on the 8th floor, a fully equipped, state of the art fitness center located on the top floor that offers the most amazing views from the floor to ceiling windows, 24-hour security and concierge as well as valet parking and a 24-hour, self-service business center.  Other amenities include assigned parking associated with the owners’ units, free shuttle service to the sister property, Sonesta Beach Resort at Key Biscayne, and the most amazing Bay and city views.  High-end retail shops and excellent restaurants on the ground level of the property add to the convenience of living at Mutiny Park.  Amenities in each residence include large balconies, walk-in closets, well-appointed details, and updated kitchens with stainless steel appliances and granite counter tops.  And, best of all, Mutiny Park allows owners and guests to have their beloved pets in the residences.

Real Estate Information
Mutiny Park is most attractive to those who have retired to sunny Florida as well as part-time residents and investors and features one to four bedroom units of which many are turn-key furnished.  Sizes of the units range from 365 square feet to 2,358 square feet.   List prices range from the upper-$100s to about $1.7 million.  Recent sales indicate that five units have sold since January 2013 with sale prices ranging from the mid-$200s to almost $900K while 11 units sold in 2012 between the mid-$100s to over $600K.  

An ideal investment for part-time residents and investors, owning at Mutiny Park affords owners the ability to place their units into the hotel’s rental pool which are very popular with visitors who spend winters in Florida.   Mutiny Park rentals typically have monthly rates between just under $2,000 for a studio and about $7,000 for an upper floor, three-bedroom unit.  Rental rates vary depending on the size and location of the unit.

An Excellent Investment
The location, quality and amenities alone make Mutiny Park an excellent investment in Coconut Grove real estate.  When adding the advantage of using Sonesta Hotel’s rental program and its management services, the investment is even more enhanced.  Coconut Grove is an exclusive area in Miami-Dade in which many enjoy spending time.  Mutiny Park enhances the experience with everything in and around the property.