Top Five Coconut Grove Listings Under $1 Million

There is probably not an area in all of Florida that quite compares to Coconut Grove.  It is the essence of Classic Florida life with a slightly modern edge to it.  This quaint little neighborhood has a lot of history including the claim to fame of being the oldest continuously inhabited neighborhood in Miami.  Known by locals as “the Grove,” Coconut Grove has a lot to offer those who have a desire to live here.  Situated south of Brickell and east of Coral Gables, this is a spectacular place to raise a family. 

In addition to featuring neighborhoods, condominiums and more around Coral Gables, we like to list the top five listings.  Here is the most recent list of the top five Coconut Grove real estate listings under $1 million:

4120 Hardie Avenue, List Price:  $1,000,000

When you think about a Mediterranean-style home, this is the epitome of what comes to mind.  Built in 1945 and remodeled in 1994, it combines the charm of old Florida with the modern conveniences to create a delightful home in Coconut Grove.  Situated on a quiet tree-lined street, this gorgeous home has three bedrooms and two baths, and so much character.  In addition to the large kitchen with custom cabinetry, there is a large master suite with marble bath, elegant formal living room with large trey ceilings and a wonderful family room with beautiful murals painted on the walls.  The feel of the home gives the feeling of living in a Mediterranean villa.  Outside, the fenced back yard encloses a wonderful private pool.  List prices for homes in the same neighborhood range from the upper $800s to over $2 million with the average price per square foot at about $458.  This home is priced just under the average price per square foot.  In the last three months, six homes within a few blocks have sold with the average price per square foot sitting at about $386. 

3350 SW 27^th Avenue, #1204, Ritz Executive Residences, List Price:  $925,000

Located in the tony Ritz Executive Residences, this property is the only one that was on our list months ago.  It is an amazing property that offers the most spectacular views of Biscayne Bay, the Grove and the Gables.  The views alone are unreal but when you add its prime location within walking distance to the Fresh Market and restaurants as well as a short drive to CocoWalk and Dinner Key Marina.  Now, step inside, and see this gorgeous contemporary and large residence in one of the most well-known condominiums in all of South Florida.  From the large contemporary kitchen with granite counter tops, sleek custom cabinets and high end stainless steel appliances to the wide open space of the main living areas and two large bedrooms, there is nothing left out.  On top of all of this, you have all of the amenities of the Ritz Carlton Hotel at your fingertips including room services, a 24-hour fitness center, 24-hour concierge and so much more.   Other listings in this condominium are priced from the mid-$400s to almost $1.9 million with the average price per square foot is about $451.  The average sold price for the units that have sold thus far this year is almost $800K with the average sold price per square foot at about $473. 

3714 Matheson Avenue, Sunshine Villas, List Price:  $925,000

If you love older homes that bring history with them, then this is the right home for you.  Built in 1914 (yes, 1914), this home was built as part of the original William J Matheson estate.  There are two structures on the property – the main house and a second structure that houses a garage and storage on the first floor along with a large loft on the second.  Inside the cedar shake/wood frame home, there are two bedrooms and one bath with so many unique finishes and characteristics from the original home plus modern updates that make it conducive to today’s lifestyle.  The kitchen has a large cooking island and stainless steel appliances while other rooms have vaulted ceilings and dark hardwood floors.  Outside, there is lush tropical landscaping that shades the home and gives it privacy.  This home is so different from most Coconut Gove homes but is still a really cool home.  As for other listed homes, this home is one of only two listed properties priced under $1 million within a few blocks. 

3730 Kumquat Avenue, Douglas Circle, List Price:  $899,000

While some may think the exterior is quite understated, the inside is a different story.  This is a perfect home with a lot of room, high ceilings, and an open kitchen and living area that is perfect for entertaining.  The master is very spacious and features nice size closets.  Impact doors lead out to a wonderful covered terrace and barbeque area.  The backyard has plenty of room for a pool.  Additionally, there is a small cottage in the back.  The location of this house ideal as it is within walking distance to the historic district of Coconut Grove.  Many of the homes in this part of Coconut Grove are older classic Florida-style homes that have updated and remodeled interiors.  There are currently four properties for sale within a few blocks of this home that priced between the mid-$600s and over $1.7 million.  Only three homes have sold in past 90 days with sale prices between the mid-$500s and upper-$600s. 

View Coconut Grover Properties Under $1 Million

1669 Onaway Drive, List Price:  $875,000 
If privacy is your main objective, this house is perfect for you.  It is situated in lovely part of the Grove close to main travel arteries as well as Vizcaya Museum and Gardens as well as other locations of interest in Coconut Grove and Coral Gables.  Set back off the street and surrounded by lush tropical vegetation, the almost 1800-square foot house has a lot to offer including a wonderful and updated gourmet kitchen, hardwood floors, a large master suite with great walk-in closet and more.  The main house has two bedrooms and one and a half bath while the cottage located by the pool brings and additional bedroom and bath to the table.  The rooms are open and airy making you feel like you have more space than you do.  Other properties for sale within a few blocks start in the mid-$600s and climb into the millions.  This is simply an opportunity to buy in a great neighborhood for a lot less than many of the residents have paid.  Recently sold homes (over the past 90 days) indicate that buyers paid anywhere from the mid-$700s to over $1.7 million.  The average sold price per square foot is around $355. 

Coconut Grove – Best of Both Worlds

Coconut Grove has a lot to offer home buyers wanting a wonderful house with lots of character on a quiet street.  When considering where to buy a home in South Florida, Coconut Grove real estate gives you the best of both worlds – more house for your investment centrally located close to everything in the area. 

Top Five Coral Gables Rentals Under $10,000/Month

Coral Gables is full of extraordinary homes and condominium residences located in some of the best neighborhoods with the City Beautiful.  While many people want to live in Coral Gables, others have a desire to spend time here without having to invest in property.  With that in mind, it has been a year since we highlighted rentals.  Here are the top five Coral Gables rentals under $10,000:

7225 Vistalmar Street, Cocoplum, Monthly Rental Rate:  $9,900

This home is a lovely estate style home located in the exclusive and guard-gated Cocoplum neighborhood.  Situated on a half-acre lot and on a cul-de-sac, this is a lovely one-story home with an open floor plan that has been updated and offers so tons of luxury fixtures and finishes.  The huge kitchen is unbelievable with lots of cabinets and counter top space not to mention a pass through to the patio.  The spacious family room has a nice fireplace and French doors that lead out to a gorgeous covered terrace.  and half acre lot with great outside covered terrace, pool and garden. Other features include a new roof in 2007, impact windows and accordion shutters.  This rental property is an annual rental that is unfurnished In Cocoplum.  Rentals in Cocoplum are few and far between but when they are available, they are snatched up.   While rental rates currently start at just over $4,000, this is a fantastic opportunity to live in a large estate-style home that is just less than 5,000 square feet in size with five bedrooms and five baths for a monthly rent under $10,000.

279 Galeon Court, Cocoplum, Monthly Rental Rate:  $9,800

Another property in gated Cocoplum, this is a gorgeous Italian-style villa with four bedrooms and three and a half baths plus an extra den.  It is a perfect home for families and includes a huge kitchen with tons of granite counter space, custom cabinetry and high end appliances.  The landscaping around the lap pool is lush and tropical.  Galeon Court is flanked on both sides with canals, and although this home is not waterfront, at the end of the street is the Cocoplum Yacht Club.  As a rental in one of the most exclusive neighborhoods, this home is one of a kind and offers an opportunity to live in a gorgeous home for less than $10,000 per month. 

1107 Alfonso Avenue, University Estates, Monthly Rental Rate:  $9,000

Located in South Gables in University Estates, this home is large with over 4,200 square feet, four bedrooms and four and a half baths.  It features a split floor plan with tons of space and unbelievable fixtures and finishes including marble and wood flooring, crown molding and more.  There is an open living area that combines the large eat-in kitchen and an open family room with huge windows and French doors that open up to the gorgeous pool and patio area.  Best of all, there are tons of windows with beautiful backyard views.  In this part of Coral Gables, the beauty lies in the distinctiveness of the homes throughout the surrounding neighborhoods.  The architecture is what we call “old” Florida or “classic” Florida with the beauty of South Florida is all around.  There are many Coral Gables rentals in this neighborhood and others within a short distance.  Monthly rental rates start at about $1,500 for older and smaller properties and climb to over $15,000 for similar homes to this one. 

5201 Alhambra Circle, Gables Riviera, Monthly Rental Rate:  $8,950

This two-story Mediterranean-style home is situated on one of Coral Gables most sought-after streets – Alhambra Circle.  Built in 1993, it features five bedrooms and six baths with the master bedroom on the first floor and all bedrooms en suite with their own bathrooms.  This home is ideal for entertaining as it has both formals along with a second-floor enclosed balcony.  There is also a large living area and kitchen containing custom-tiled counter tops and lots of cabinet space.  The finishes in this home like the arched doorways and large terracotta tile floors give this home its character.  Outdoors, everyone can enjoy a beautiful and sparkling pool along with an elegant patio area and lush tropical landscaping.  This home is listed for rent on an annual basis.  Rental properties in close proximity to this featured home typically have monthly rental rates starting at about $2,500 and climbing to about $15,000.  Because of the neighborhood, homes are usually available on an annual basis.  It is the ideal location for those who want to be close to Riviera Country Club, UM, Doctor’s Hospital and Downtown Coral Gables.   

13621 Deering Bay Drive, #603, Milano at Deering Bay, Monthly Rental Rate:  $8,600

This residence in the elegant Milano in Deering Bay is spectacular.  It features breathtakingly beautiful views of golf course, pool & Miami skyline and is perfectly decorated.  The kitchen is a chef’s dream with tons of counter space and top of the line stainless steel appliances.  There are continuous wood floors throughout the interior along with a very clean and sleek design.  The residence boasts a large laundry room with cabinets and tons of room to move along with two bedrooms and two and baths.  Rentals at Milano at Deering Bay are few and far between with monthly rental rates dependent upon their location at Deering Bay.  Like most rentals, this residence is listed unfurnished on an annual basis. 

Living a Luxurious Life

Coral Gables rentals allow residents to live a luxurious life without the responsibility of upkeep on estate homes or in high-end condominiums.  The city is filled with rental opportunities to fit any budget.  For those who have the desire to live lavishly, these properties are a great place to start.

Affordable Coral Gables Condominium Investment Properties

If you have kept up with the real estate market in Miami and the surrounding areas, you know that prices are climbing and inventory is in demand.  For those still wanting solid real estate investments, there are several affordable Coral Gables condominiums that offer the opportunity to buy property in buildings where residents seek rentals.  Here are a handful of condominiums:

Valencia Condo, South Miami, 6001 SW 70th Street, Miami.  While not technically in Coral Gables, Valencia is located in the perfect location for investors.  It is close to the main travel arteries that provide a quick drive to Coral Gables, Downtown and the surrounding areas as well as the South Miami Rail Station and University of Miami.  On top of that, it units feature great amenities including gourmet kitchens, entertaining bars, a private terrace/balcony, track lighting, built-in alarm systems and much more.  As for community amenities, there are 24-hr camera security, covered parking, pool, and other conveniences.  List prices start in the $120s for a one-bedroom unit and climb into the mid-$300s for a unit with four bedrooms and three baths.  Rental rates typically range between $1,300 and $3,500 per month.   

Douglas Grand, 50 Menores Avenue, Coral Gables.  Built in 2002, Douglas Grand is situated in the heart of Coral Gables just blocks off the Miracle Mile and adjacent to Phillips Park.  Residents enjoy amenities like a fitness center, resort-style pool, concierge, security, and covered parking.  Inside each unit, there are balconies, roomy kitchens, bedrooms and living areas, and more.  Probably the most popular feature of Douglas Grand is that it sits atop Publix.  As for list prices, the range is usually from the low-$200s to the low-$300s with rental rates falling between about $1,400 per month for a studio and about $2,300 for two-bedroom units.  Over the last 12 months, nine units have sold with sale prices between $165K for a one-bedroom/one-bath and $309K for a two-bedroom/two-bath.  The average number of days on the market for these 12 is 155 days however three of them took an exceptionally longer time to sell than the other. 

Metropolis at Dadeland, 9055/9066 SW 73^rd Court, Dadeland.  Metropolis at Dadeland condo is a two-tower property located in the center of what we call Downtown Dadeland.  Dadeland is just south of Coral Gables and has streets with tree-lined medians that give way to a lovely part of South Florida.  Metropolis is in an ideal location as it is close to the University of Miami and offers direct access to downtown Miami via Metro-Rail.  Residents enjoy amenities like a resort-style pool, fitness center, and other conveniences.  Each unit is spacious with roomy updated kitchens, bedrooms and baths, private terraces, washers/dryers, and so much more.  Investors can expect to pay between the upper-$180s and the mid-$400s.  There have been 12 sales in the past six months with sales in the above range.  As for leasing, rental rates are anywhere from about $1,500 to just under $3,000 per month.  Rental units at Metropolis at Dadeland are offered on long-term leases only and typically rent within about two months.   

Ten Aragon, 10 Aragon Avenue, Coral Gables.  Situated on the Miracle Mile, Ten Aragon is the quintessential Coral Gables condominium that is close to everything in Coral Gables.  In addition, Ten Aragon is close to top rated golf courses and just a short drive from Downtown Miami and South Beach.  The property is large with over 500,000 square feet of mixed use space including a 10-story residential condominium and over 65,000 square feet of commercial space.  Residences are spacious and offer nine to 10-foot ceilings, impact-resistant sliding glass doors that open to balconies with beautiful unobstructed views, spacious walk-in closets, and much more.  Upgrades are available in some units with high-end features.  Community amenities include a fitness center, large outdoor pool, concierge, security, covered and assigned parking and much more.  Ten Aragon is very appealing to renters because of its prime location along with the affordable luxury that comes with living here.  Investors can expect units to list between the upper-$200s and low-$600s as the four units sold thus far this year have landed in this range.  There is a broad range of monthly rates at Ten Aragon typically between about $1,800 and over $5,000. 

Investment Opportunities

In addition to these condominiums, there are lots of real estate investment opportunities throughout Coral Gables and its surrounding areas.  Many people place a larger emphasis on living in a certain neighborhood or area in Miami-Dade County.  It just takes a little research to find the best investments that the most potential of yielding the biggest return.  

Five Most Recent Coral Gables Real Estate Sales

Home sales in Coral Gables are moving right along at a nice clip.  Compared to this time last year, Coral Gables home values have increased about 12 percent.  This is very welcome considering that several years prior to this were not the best in the real estate business.  Over the last 30 days, over 80 properties have sold with the average sale price over $700,000.  To show the activity, following are the top five most recent Coral Gables real estate sales:

439 Majorca Avenue, Coral Groves, Sale Price:  $770,000

Talk about Old Florida!  This home, built in the 1920s, has that old Spanish-style architecture that brings a ton of character and charm to the neighborhood.  It is located in the heart of the Gables in Coral Groves which is  close to everything.  While it has been updated, it still holds the unique attributes that are only found in the older homes in this part of Coral Gables.  Sale prices in this part of Coral Gables vary greatly depending on their proximity to the Miracle Mile and the top area golf courses as well as the current shape of the home as many of the properties are in need of some TLC. 

2315 Granada Boulevard, Sale Price:  $757,500

This is a wonderful and classic Spanish-style home on well-sought after Granada Blvd. Built in the 1930s, it is another home that is situated in a prime location close to the Coral Gables Country Club and area parks as well as being surrounded by the neighborhoods of Granada, Coral Groves and Coral Estates.  Along with three bedrooms and three baths, there is an addition maid’s room or in-laws suite off the kitchen.  There are so many unique characteristics about this house that it is no wonder it went under contract in only three months.   The range of list prices for homes close to this one is broad from the upper-$400s to over $1.6 million.  Over the last six months the range of sale prices fell between the low-$200s to over $1 million. 

4920 Suarez Street, Sale Price:  $895,000

Here is another recent sale in a superb location at the corner of Rivera Drive and Suarez Street.  Built in the 1950s, this recently updated home features five bedrooms and three baths, beautiful hardwood floors and a great gourmet kitchen.  It offers everything that a family needs and wants including a beautiful backyard with patio area and swimming pool not to mention being close to top schools, shopping and excellent golf courses.  Nearby homes have sold for anywhere between the mid-$700s to well over $1 million while current listings start in the mid-$600s. 

60 Edgewater Drive, # PH1A, Gables Club, $3,737,500

A penthouse at the Gables Club – what else can we say?  This is a spectacular penthouse residence with the most amazing bay views.  It also has everything that one can think of having in their home including a gourmet kitchen, to-die for living areas and amenities that rival any five-star hotel in the world.  This listing went under contract within four and a half months of listing so while it is on the higher end of the sale prices, there is definitely a desire for property of this caliber.  Currently there are eight listings at the Gables Club that fall between about $1.3 million and $4.2 million.  Other recent closings (past six months) showed that sale prices were between about $2 million and almost $5 million. 

626 Coral Way, #704, Gables on the Green, $960,000

Another fabulous Coral Gables condominium is Gables on the Green.  With this ideal location close to just about everything in the Gables and its gorgeous panoramic views of Coral Gables, it is no wonder that it went under contract within two months of being listed.  The residence has so many features that make it a showplace including a recently remodeled master bath, a glorious wide open kitchen, marble floors, and more.  The one-touch electric shutters are a nice benefit as well.  And as for the building amenities, there is nothing like 24-hour security and concierge, private elevator and foyer entry reserved covered parking, extra storage and other great extras.  Currently at Gables on the Green, there are no units listed for sale.  This is a popular place and when one is listed for sale, it is usually gobbled up at the snap of a finger. 

Coral Gables Real Estate is on the Move

In terms of the overall market, Coral Gables real estate is on the move with a continued upward trend.  There are still several properties that are bargains but if you are interested in buying in Coral Gables, now is the time.  It is exciting to see what is happening here and with so much to offer, it is no wonder that so many people are seeking to live in this part of South Florida.

Coco Plum Women’s Club: Classic Old Florida Style and Elegance

We recently went to an event that was at the Coco Plum Women’s Club.  Not only was the event wonderful, the location was absolutely spectacular.  It had all the elements that we love the most in this part of Florida which made everything simply perfect.

One of the best attributes about South Florida is the architecture.  The designs and characteristics are unique to time-honored Coral Gables real estate and have an appeal that is just not found in most newly built homes today.  The Coco Plum Women’s Club showcases the “classic old Florida” style from the early to mid-1900s that is still very popular today.

History of the Coco Plum Women’s Club

Established in 1912, the Coco Plum Women’s Club had just eight members and called themselves the Coco Plum Thimble Club.   At the time, they met at members’ homes but over the years, the land on which they are located now was bought then divided and sold to raise money for community efforts.  During WWI, they rolled bandages, sang at community events, and provided entertainment for the Airmen at, what was then, the Dinner Key Naval Station.  Over the years, they have worked hard to contribute the Coral Gables community in terms of arts, culture, education and even international outreach.

The Coco Plum

Built in 1926, the Coco Plum was built for the members of the Women’s Club to operate their organization.  Over the years, the facility, with its beautiful Mediterranean –style architecture, has been home to many events from cotillions and meetings to other events that required an elegant backdrop like the Coco Plum.  Today, it is the site of many weddings and other social events, and houses a full staff to handle every bit of the planning from invitations to entertainment to the lighting and technical support.  That is why when you go to an event at the Coco Plum, you look around in complete awe of the event’s beauty and then how well organized it is. 

Neighborhoods Surrounding the Coco Plum

The Coco Plum is situated in Coral Gables not far from the Miracle Mile.  Surrounding it are some of the most fabulous established Coral Gables neighborhoods that seem to carry the architectural style and grace of the Coco Plum.  Gables Riviera, Gables Estate, the Coco Plum neighborhood and some of the most exclusive Coral Gables neighborhoods are close by.  Additionally, Coconut Grove is also a stone’s throw which gives the Coco Plum a much more elegant and high-end feel.

A Great Place to Throw a Party

This part of Coral Gables is such a great area in which to live.  Coral Gables is also known as the “city Beautiful,” and once you drive through these classic Florida neighborhoods with the unique architecture and perfectly landscaped lawns, you see why it has this reputation.  It is fabulous!  The Coco Plum is the perfect element to the area…not to mention a great place to throw a party!

Bulla Gastrobar– Coral Gables Newest Go-To Restaurant

One thing that Coral Gables is lucky enough to have is a long list of great restaurants.  There are times where you have a craving and there are times you keep hearing about a new place that you want to try.  This is one of the raves about a new restaurant in the Gables – Bulla Gastrobar.

Bulla is the brainchild of a former owner of Por Fin which just so happens to be next door.  Carlos Centurion loves the gastrobars in Spain and put one right where it needed to be – in the Gables.  Gastronomy is the study of good eating and at Bulla Gastrobar that is exactly what the place is about.

Located at the corner of Ponce de Leon and Andalusia Avenue in the heart of the Gables, Bulla Gastrobar is absolutely fantastic.  Bulla (pronounced boo-ya!) is full of excitement and a fun atmosphere.  Everyone in there is smiling and having a blast while enjoying good food and great wine.  It is described as a Spanish tapas bar and features a menu that looks delicious with smaller plates and large ones as well.  When you look around the place, you see people taking a bite of something then looking at their friends with big eyes that suddenly roll back in their heads.  That is followed by repeated “yums.”  

Arroz a Banda

A couple of our favorites at our table were Huevos Bulla, a combination of organic egg, homemade potato chips, Serrano ham, potato foam, truffle oil and Arroz a Banda which is paella type dish that leaves you wanting more.  As for drinks, the Sangria is delectable but the Moscow Mule is one you definitely want to try (but be careful). 

The Heart of the Gables

Coral Gables is filled with great places to eat especially along and around the Miracle Mile.  One of the city’s greatest attributes is being able to walk from place to place.  In real estate terms, Coral Gables is considered to be “very walkable.” When people venture into our quaint little city, they are taken aback by how everyone who lives in and around this part walks everywhere.  That is one of the primary reasons people choose Coral Gables rentals or property for sale close to the Miracle Mile.

From residences in condominiums like the Gables Club, Ten Aragon or any of the other well-known buildings to living in close-by neighborhoods like Coral Gables Granada, Country Club, Gables Riviera and others, a big draw is how close they are to shopping, dining and simply enjoying the “City Beautiful.” 

This part of Coral Gables has its own unique character as most of the homes have that classic old Florida architectural appeal that you simply do not see in newly constructed homes.  The details inside many of the older homes reflect the time and attitude of the people who have called the Gables home for decades.  Outside, whether in one of the neighborhoods or along the streets surrounding the Miracle Mile, there is a sense of community that is hard to find in many parts of the area and even the state.

The Perfect South Florida Atmosphere

Bulla Gastrobar reflects this attitude and has a very cozy atmosphere as well.  If you are looking for something new and different to try or are new to the area, let us suggest – no tell you – to try Bulla Gastrobar.  It has fantastic food, awesome libation and the perfect South Florida atmosphere.  We promise you want be disappointed. 

Edgewater: Miami’s Newest Up and Coming Neighborhood

Situated in a prime location along Biscayne Bay is one of the latest up and coming areas of Miami – Edgewater.  Formerly a dilapidated neighborhood, Edgewater was avoided as it was dilapidated and run down. 

All that has changed.  It is in revitalization mode as developers target it with new Miami condominiums, retail and more.  The location is ideal because it is surrounded by other cool up and coming neighborhoods like the Design District, Brickell, Wynwood and others.  In fact, its location is said to be at “the intersection of funky and trendy,” in a Miami Herald article earlier this year. 

If you are curious as to exactly where funky and trendy meet, Edgewater is bound by NE 17^th Street (north); Tuttle Causeway at 36^th Street (south); Biscayne Bay (east); and, the railroad or Biscayne Boulevard (west).  Just a drive through Edgewater and you will see it bursting with real estate projects from some of the most successful developers in the country and, even the world. 

There are a few major projects in Edgewater under way that we think are worth mentioning. Not only do they add to the Miami skyline, they bring a lot to the entire neighborhood.   Following are several major projects:

Icon Bay, 460 NE 28^th Street

Icon Bay, a new condominium being developed by Icon Bay, is under construction with completion targeted around spring 2015.  With construction well underway, this building is going to be beautiful with its zigzag design on the exterior and contemporary interior.  Icon Bay is going to be a 40-story condominium eight units on each floor.  Ranging in size from 900 to over 2,000 square feet, each residence will have unbelievable panoramic views and luxurious details.  Additionally, the plans show a water park and all the community amenities that come with Related Group projects.  The building is practically sold out and is a sign that the Edgewater is a neighborhood to watch and a project that definitely indicates the market is turned.    

Paraiso Bay, 600 NE 31^st Street

The Related Group definitely sees the potential in the Edgewater neighborhood.  You can see that simply because they are on the move here with multiple projects.  Another one is Paraiso Bay.  While construction is expected to start soon, recent reports have indicated that Paraiso Bay’s plans are becoming bigger with two new towers being added.  There will be 790 residences in the original two towers with only seven units on each floor.  The residences comprise one, two, three and four-bedroom units ranging in size from about 1,000 square feet to about 2,500 square feet each with spectacular bay views.  Each floor will contain a maximum of seven units that look to be lined across the building.  Along with the beautiful condominium, Jorge Perez permanently closed off 31 Street at the Bay in return for adding a park with playground equipment, lots of green space and more.  To buy at Paraiso Bay, potential buyers can expect to pay between the mid-$500s and over $1.1 million for units that range in size from just over 1,000 square feet to well over 2,100 square feet.  Food for thought is that David Guetta has secured a penthouse in Paraiso Bay…just sayin’. 

Biscayne Beach, 711 NE 29^th Street

A third project to be built along the Bay in Edgewater is Biscayne Beach.  Set to begin construction in April (just got a thumbs up from Miami’s planning department), Biscayne Beach is a 51-story bay front high-rise condominium with 399 units being developed by Eastview Development and GTIS Partners.  Remember Thom Filicia from Queer Eye for the Straight Guy?  He will design the interiors.  As the first condominium with a manmade beach club directly on Biscayne Bay, it will offer one, two, three and four-bedroom options in addition to penthouses with private rooftop garden terraces.  Inside each residence, there will be floor-to-ceiling windows, large balconies and beautiful Biscayne Bay, Miami Beach and city views.  List prices range from the mid-$400s to well over $1 million for units with sizes between almost 900 square feet and over 2,100 square feet (penthouse prices available upon request).

A Growing Neighborhood in Miami

It is easy to see that Edgewater is exploding with all of the condominium construction underway.  Carlos Rosso, President of Condo Development at the Related Group, was quoted in a Miami Herald article to say “Edgewater’s layout works well for high-rise condos” as it sits in a prime area of Miami with Biscayne Boulevard running parallel to the Bay is the major thoroughfare of Biscayne Boulevard with shops and restaurants.” He went on to say “it’s an attractive area.  It’s got good bones.” In the real estate industry, that means it has good structure and placement which is definitely true as it is so close to the Design District, Midtown and the Wynwood Arts District. We are so excited to watch Edgewater turn into one of Miami’s best neighborhoods.  It is simply a great place to live!

Life in the Wynwood Arts District

One of the coolest areas in all of Miami is the Wynwood Arts District.  Established by a group of art dealers and artists, this neighborhood was originally created as an arts association as it tended to be the area where artists congregated and worked.  Since then, Wynwood has grown into a thriving neighborhood.   

Prior to its popularity, the Wynwood Arts District was a neglected warehouse district filled with deserted and run down industrial buildings.  Developers saw the potential and decided to design a full-fledged arts district that appealed to residents and visitors who wanted a neighborhood with hip restaurants and bars as well as art galleries, studios and unique retail shops. 

Today, Wynwood has morphed into one of the largest, well-known arts districts in the country.  It is a common sight to see people meandering through art galleries and museums or dining at many of the excellent restaurants dotting the neighborhood. 

Highlights of Wynwood

There are so many highlights in Wynwood with the most obvious being the art galleries, studios and museums.  At these venues, well-known artists from around the world show some of their best artwork as do up and coming artists.  Additionally, there is a wonderful display of street art installed throughout the area. In fact, the street art displayed is one of the largest in the world. 

On top of the art influence, there are great restaurants in Wynwood like the Wynwood Kitchen and Bar, Jimmy’z Kitchen, Joey’s, and others.  People from all over Miami-Dade flock to Wynwood for all it has to offer. 

One of the most popular highlights is a venue called the Wynwood Walls.  Created by Miami real estate innovator, Tony Goldman, the Wynwood Walls is another major art influence in the area.  Created in 2009, it is a complex of graffiti and murals by renowned street artists. The adjacent Wynwood Doors opened a year later with 176 feet of roll-up storefront gates painted on both sides to reveal a portrait gallery.

A very popular event is the community Art Walk held every second Saturday of each month.  Galleries, art studios, alternative spaces and showrooms showcase art and other works while providing music and refreshments.  The Second Saturday Art Walk also ushered in the Art Basel Fair. 

Location of the Wynwood Arts District

Located just north of Downtown, the Wynwood Arts District is adjacent to another up and coming neighborhood, Edgewater.  Its borders are North 36^th Street on the north, North 20^th Street on the south, I-95 to the west and NE 1^st Avenue on the east.  The location of Wynwood is ideal as it is just south of another neighborhood on the rise – the Design District and north of the Performing Arts Center and the Downtown area. 

Wynwood Arts District Real Estate

Wynwood borders the Midtown area of Miami as well so when searching properties, the two neighborhoods are often intermingled especially with condominiums and multi-family properties.  Wynwood Arts District real estate offers a mix of single family homes and multi-family dwellings throughout the neighborhood.  

Because it is a revitalized neighborhood, many of the properties have either undergone or need to undergo renovations and upgrades.  This is such a cool area of Miami for residents who like a creative, relaxed atmosphere.  It accommodates many buyers from first-timers to those who love to fix up homes and have an eclectic taste. 

Single family homes in the Wynwood Arts District are, for the most part, in need of TLC – well, a little more than that.  Depending on the location of the property and the size of the lot, it is not uncommon for buyers to seek properties where they can demolish the structure and build up the property with a multi-family structure or even new construction single family home. 

As for multi-family structures, most of the condominiums are boutique buildings with loft-style units. Parc Lofts and Wynwood Lofts are two very popular buildings with loft-style residences.  A glimpse into a Wynwood loft shows large open spaces with exposed pipes and beams as well as hardwood or concrete floors.  They have a lot of character and are typically within walking distance to the galleries, restaurants and retail shops. 

In terms of statistics, the overall median sale price typically falls in the mid-$300s depending on the timing.  The entire range of list prices falls from under $200K to the millions.  But, because of the growing popularity, list and sale prices are destined to increase. 

Wynwood’s Influence

Wynwood’s influence on the arts community is very evident with its stellar reputation all over the world.  Its growing popularity is resulting in significant growth and it becoming the part of Miami real estate where residents who want arts, culture and a diverse atmosphere in which to live.  Even though it is new and different, Wynwood is definitely an influential part of Miami in which businesses are destined for tremendous success. 

Newest Coral Gables Rental Listings

Coral Gables is filled with so many options when it comes to real estate.  Whether you want a classic “old Florida” style home with tons of unique characteristics or a newly constructed home with all of the latest modern conveniences, your ideal property can definitely be found in Coral Gables.  On top of that, there are also many Coral Gables rentals for those who are not in the market to buy but plan to spend extended time in the Gables.  Here are the most recent Coral Gables rental listings:

535 Caligula Avenue, Coral Gables Riviera, Monthly Rental Rate:  $17,000

Coral Gables Riviera is known for its “old Florida” feel with older homes that have so much character.  This gorgeous two-story home is no exception with over 5,700 square feet of living space.  Included are a gated entry, six bedrooms, six full baths and one half-bath as well a three-car garage and an elevator.  Additionally, there is a fabulous gourmet kitchen along with a wine cellar, both formals, an entertainment bar and most importantly, (after all this is South Florida) a beautiful outdoor pool with spectacular pool deck, garden and barbeque area.  This is upscale living at its finest and should be enjoyed by those who expect the best.

1607 Ponce de Leon Boulevard, Ponce de Leon Condos, #PH-B, Monthly Rental Rate:  $4,500

Ahhh!!  To live the luxury life in a luxury condo situated in the center of a luxury town is what happens when living in this penthouse with a little less than 1,800 square feet of living space!  Wow!  This unit is located in one of Coral Gables most magnificent boutique condominiums with only 50 residential units.  It has everything to exude upscale from a private elevator, wood floors, 10-foot high ceilings and balconies with spectacular views to a beautiful kitchen with European style wood cabinets, a glass tile back splash, and stainless steel appliances.  Other amenities include two of the most relished parking spaces, two large storage units, 24-hour security, a magnificent and sparkling pool and Jacuzzi, and a fully-equipped exercise room.  Situated in the heart of the Gables, the Ponce de Leon Condos are within walking distance to the best shopping and dining in the area.

4117 Alhambra Circle, Coral Gables Country Club, Monthly Rental Rate:  $4,500

Recently renovated, this is a fantastic two-story home with three bedrooms and three baths in a highly sought after part of Coral Gables.  It features a large foyer that opens into a spacious living room.  The modern kitchen, with stainless steel appliances and granite counter tops, opens up to a large family room with an office/library adjacent to it.  Residents are also very lucky because there is tons of closet space.  Situated on a quiet street and close to great schools, this home is perfect for a family.  It is important to note that this house is offered for an annual lease and also listed for sale at $865,000.

55 Merrick Way, #627, 55 Merrick Condo, Monthly Rental Rate:  $3,500

55 Merrick is a premiere condominium in Coral Gables and features some of the most unbelievable units and amenities.  This unit features two bedrooms, two baths and a large 229-foot balcony facing the resort style pool.  In addition, there is a wonderful kitchen with Italian cabinets, GE stainless steel appliances and a large den which is a great option for a third bedroom. As for community amenities, this unit comes with two covered parking spaces, valet, 24-hour security, a fully-equipped fitness center and a two-story clubhouse.  Another bonus that makes 55 Merrick so popular is its location is primo within walking distance to the best shopping and dining in the Gables.  Similar properties in 55 Merrick Condo have monthly rental rates that range from about $2,000 to $4,000 with annual leases.

1300 Ponce de Leon Boulevard, 1300 Ponce de Leon, #1102, Monthly Rental Rate:  $1,950

Another gorgeous condo in the heart of the Gables is 1300 Ponce de Leon.  Located just blocks from the Miracle Mil ppliances in the kitchen along with marble counter tops in both bath.  Along with impact windows and one parking assigned space, resort style pool and more.   This is a fantastic annual rental in one of the most fabulous parts of South Florida.  Monthly rental rates typically fall between about $1,800 and $2,900 depending on the size of the unit.

New Coral Gables Rental Properties

The rental market changes daily with properties listed one day and rented the next.  The takeaway is that there are always new Coral Gables rental properties being listed making it fairly easy to find that perfect place to land.

Why Do People Love Living in Coral Gables?

It has been awhile since we sang praises for the City Beautiful.  So that is just what we are going to do.  There are so many things to rave about when it comes to Coral Gables but here are a few of the highlights.

Coral Gables is a perfect blend of old and new.  Not only is there some of the most beautiful architecture in all of Florida along with lots of lush and tropical landscaping, there is definitely a newer atmosphere with commercial and residential development throughout the city.  Still, the entire atmosphere has that wonderful Mediterranean feel to it and offers so much to so many people.  It is a place where people come for a visit and immediately fall in love with everything about it. 

Reasons to Live in Coral Gables

Coral Gables offers its residents the best of everything from attractions to its locations to real estate.  Here are some of the reasons to live in Coral Gables:

Location

We hear it all the time – “location, location, location.”  Coral Gables is situated just south of the city of Miami within a short drive to downtown and Brickell not to mention fabulous Miami Beach.  Additionally, Miami International Airport and the other major transportation hubs are also very close to Coral Gables. 

On top of being close to so much, Coral Gables is adjacent to Biscayne Bay.  There are so many canals and waterways that meander through the neighborhoods that make it a perfect place for boaters. 

Shopping

There is so much to see, do and enjoy about living in Coral Gables.  There is definitely some of the best shopping and dining on the Miracle Mile.  Residents can easily walk along the street to pop in and out of some of the most unique shops and cafes.  At the Village at Merrick Park and Cocowalk (located in nearby Coconut Grove), everyone’s favorite national and regional retailers are easily accessible.  Additionally, there are more projects in the works as developers see the value and benefits of building in Coral Gables. 

Attractions

Coral Gables has so many attractions that draw people.  Some of our favorites include the Venetian Pool, Dinner Key Marina and the nearby golf courses.  

The Venetian Pool is an amazing pool created in 1923 from a coral rock quarry that holds 820,000 gallons of spring water fed from an underground aquifer.  Even more amazing is that in the spring and summer seasons, the pool is filled and drained daily.

Area golf courses include the Biltmore Hotel and others located in neighborhoods in and around Coral Gables.  Doral is just a short drive and is known for its championship courses as well.

Real Estate

One of the most important aspects of settling down in Coral Gables is the real estate market.  All of South Florida has rebounded from the crash several years ago.  This includes the Coral Gables real estate market.  The past year saw a significant uptick in terms of the number of properties listed on the market as well as the list and sale prices.  The biggest increases shown are with the price per square foot which shows double digit increases across the board.  For example, the sale price per square foot for properties under $1 million saw a 15 percent increase from $248 to $286. 

For interested buyers, there are so many options in Coral Gables.  Many buyers looking for second homes and investment properties like Coral Gables because of all it has to offer.  Even first-time buyers are looking here as an alternative to Miami with the smaller homes and Coral Gables condominiums like 55 Merrick and Ten Aragon on the market.  There are also new developments on the horizon such as Merrick Manor.  High-end luxury real estate buyers often look to Coral Gables because of the amazing estate homes in unbelievable neighborhoods.  Celebrities and sports figures have flocked to Coral Gables because of the privacy there.

Coral Gables Has Everything to Offer

For those who want to live here, Coral Gables has everything to offer.  From all there is to do here to the options with Coral Gables real estate, it is easy to see why so many come here and decide to stay here.