Miami Luxury Homes Sells Out Club Residence Tower at Park Grove

 
Michael Light, Director of Luxury Sales at Douglas Elliman, sold the final 2 remaining units in the Club Residence Tower (Tower 3) at Park Grove to two, separate Canadian buyers. Tower 3 at Park Grove is now SOLD OUT!

Despite the strengthening of the U.S. Dollar, which has had a negative impact on Canadian buyers purchasing real estate in the U.S., two different clients of mine from Canada still decided to purchase a residence at Park Grove because they fell in love with the project. This just shows that if you have a quality product, it will sell…regardless of market circumstances.

The Club Residence Tower was the first of the three towers at Park Grove in Coconut Grove to launch sales and to commence construction. Currently, the Club Residence Tower and Two Park Grove are both on the 21^st floor of construction and are set for an official top-off ceremony next week on Wednesday, March 8th.

If you are a buyer in Tower 3 at Park Grove, here is a photo of the stunning bay view from the 16th floor:

View from Park Grove Club Residence Tower | 16th Floor

Construction Tour

On Thursday, my wife Jaimee and I were personally invited on an exclusive tour of the Park Grove construction site. During our tour with Project Manager Jason Gilg of Terra Group, we had the privilege of seeing the ground-level of the Club Residence Tower including the lobby, and then we explored the lobby in Two Park Grove (Tower 2). After a quick ride on the buck hoist (construction elevator), we stopped on the 19^th floor to check out the incredible views from units at Two Park Grove.

Here is the view from unit 19C in Tower 2 at Park Grove:

View from Two Park Grove Residence 19C

Because of my background in construction, I have been on many construction sites. It is difficult for most people to envision what the “finished product” will look like when touring a project under construction, but not for me. I can look at plans and renderings, then walk a building under construction and see exactly how everything will come together. Let me tell you, Park Grove is exactly what David Martin, President of Terra Group, envisioned when Douglas Elliman launched sales for the project over 2 years ago.

Outside: Instead of feeling like there are 3 different buildings with different lobbies, the project offers an overall sense of unity. Each tower seamlessly flows from one to the next through its private gardens and tropical outdoor spaces.

Inside: Once I stepped into unit 19C in Tower 2, I immediately noticed the uncommonly-high 12′ ceilings, which most developers do not offer. Also, I noticed there were no interior columns. Most condos in South Florida, unlike Park Grove, have interior columns in the corners of living rooms or bedrooms that obstruct views and kill room flow. All columns in Park Grove are on the OUTSIDE of the building and hidden as to not obstruct one ounce of the water views & Grove skyline.

Here, you can see the columns on the outside of the building:

Park Grove Towers 2 (Left) and 3 (Right) | During Construction

One Park Grove Redesign

The plans for One Park Grove (Tower 1) originally included only 54 residences ranging in size from 3,154 to 6,504 square feet. But, because of the overwhelming demand for units in Tower 2, the developer has decided to change Tower 1 units to mirror those in Tower 2.

Though One Park Grove’s original design for very large units was amazing, many local residents looking to downsize from 8,000+ square-foot homes wanted more of a modest-sized condo residence.

As a result, One Park Grove will now have 72 residences ranging in size from 2,232 to 3,592 square feet. As of today, One Park Grove is already 40% sold, with pricing starting at $2.4M.

Park Grove Key Plan for Tower 1 and Tower 2

As David Martin often says “people do not want more, they want to be more.” This is true and relevant to One Park Grove. As I mentioned previously, local residents are looking to downsize for good reason. Instead of “wanting more” living space, they want to “be more” by traveling more with their families, spending more time on their boats and exploring life outside of their homes.

Remaining Inventory at Park Grove

Now that the Club Residence Tower is sold out, Park Grove as a whole is 83% sold. There are only 6 units remaining for sale in Two Park Grove with the remaining inventory coming from One Park Grove. For example, units 19C & 20C in Tower 2 are both available at $3,606,000 & $3,673,000 respectively, and both have amazing views…just look at the picture above from unit 19C.

Status of Construction and Estimated Completion

Currently, the Club Residence Tower and Two Park Grove are on floors 21 of construction, with both towers having an estimated completion date between Q4 2017 – Q1 2018. Construction has not yet begun on One Park Grove, but the estimated completion date is on schedule for Q2 2019.

About Park Grove

Located at 2701 South Bayshore Drive in the highly-sought-after bayfront neighborhood of Coconut Grove, Florida, Park Grove is an ultra-luxury, pre-construction condo development that provides an intimate, luxurious living experience in the truest sense. Situated on the serene, community-valued, bayfront streets of Coconut Grove, but only minutes away from the chic, metropolitan streets of Brickell and the vibrant streets of South Beach, Park Grove offers an ideal place to reside.

Designed by a team of world-renowned architects, designers and developers, Park Grove has unprecedented beauty. Park Grove condo residents will enjoy high-class architecture by OMA’s famous Rem Koolhaas, interiors custom designed by the famous William Sofield, known for his historical yet modernist principles and creations of harmony between the aesthetically pleasing and everyday comfort, and the lushly landscaped gardens by Enzo Enea.

Park Grove offers all residents unparalleled amenities including luxurious swimming pools spanning 500 feet with private cabanas, state-of-the-art fitness center, private training rooms, indoor/outdoor yoga spaces, bayview dining room for private events, wine cellar, library, curated art gallery, business center, children’s indoor/outdoor play areas, adult gaming room, outdoor amphitheater event space and 5 acres of private parks.

Douglas Elliman is the exclusive broker for Park Grove in Coconut Grove.

If you, or someone you know, would like more information about purchasing a residence at Park Grove, please contact Michael Light, Broker Associate and Director of Luxury Sales at Douglas Elliman and a proud resident of Coconut Grove. You may reach Michael directly at his office at 305-350-9842, on his cell phone at 786-566-1700 or via email at michael@miamiluxuryhomes.com.