Major Food Group Plans 25,000sf Food Hall In Coconut Grove Posted on April 24, 2023April 25, 2023 by Sarah Elles Boggs Continuing its bullish moves in the Miami market, Major Food Group has signed a lease in Coconut Grove with coworking operator Industrious. While no official announcement has been made quite yet, all signs point to a new food hall with a coworking element built in. Last summer, the hospitality conglomerate signed a lease at Mayfair in the Grove, with Industrious following suit more recently. The leases span through 2901 Florida Avenue, 3000 Florida Avenue, 3390 Mary Street and 2911 Grand Avenue. Two of these spaces open to a shared pedestrian street, which presents the perfect opportunity for a food hall very similar to Eataly. The concept is currently in the permitting process with the city. The hospitality group has been on a bit of a rampage in recent months, opening new eateries in the Magic City, partnering with real estate developers and hosting events at festivals such as the SOBEWFF and the Miami Boat Show. Sources close to the deal have mentioned that the new location is slated to open early next year on the first and second floors.
Coconut Grove Is THE Hotspot To Live In Miami According To Variety Magazine Posted on April 12, 2023April 12, 2023 by Sarah Elles Boggs Brace yourselves for more artistically-inclined neighbors coming soon! Variety Magazine, the de facto resource for all entertainment industry news since its inception in 1905, has declared Coconut Grove as the real estate hotspot for those in the Miami area. With a print circulation of over 63,000, 6 million social followers and 27 million unique digital visitors, Variety.com is without a doubt the authority for those in the entertainment industry. This includes film and television, podcasting and digital entertainment, music, tech and more. It is “a powerful publication in every conceivable aspect. Variety stands as a monument to the entertainment industry,” according to judges from the National Arts & Entertainment Journalism Awards. With California being a hotbed for outbound movement toward more tax-friendly states, we welcome our west coast friends with open arms. Coconut Grove is a great place for someone who hails from Los Angeles. With our quirky and artsy vibe, proximity to the ocean and upscale bohemian tendencies, Coconut Grove can be compared to Los Angeles’s Pacific Palisades region. Coconut Grove Homes “I personally believe Coconut Grove is one of the most sought-after neighborhoods in the entire country. People feel a sense of place and community here. It’s a neighborhood where people can plant a flag,” says David Martin, CEO of Terra Group, to Variety.com. Martin’s Terra Group is the developer behind several architecturally distinguished projects along Bayshore Drive in Coconut Grove. Grove at Grand Bay was completed in 2016 with dual twisting towers overlooking the bayfront park. Here you can find residences designed by Bjarke Ingles that offer spacious layouts currently being offered between $3.5 million – $12.5 million. Grove at Grand Bay Terra Group is also responsible for Park Grove, which also takes advantage of the bay views and walkability of the burgeoning community. Buyers here can choose between several buildings that were opened between 2018-2020 and all were designed by starchitect Rem Koolhaas/OMA. Mr. C Residences is also in Terra Group’s portfolio and is already sold out prior to its completion later this year. Park Grove Residences in Coconut Grove, Florida For those who prefer an additional dollop of privacy combined with their waterfront living, Vita at Grove Isle will be appreciated. This is a new boutique development that is beginning construction this month on the private 20-acre island of Grove Isle. With just 65 spacious and fully-serviced residences featuring a tranquil waterfront aesthetic, new owners will be able to move in starting early 2025 with purchases between $5 million and $10 million. Vita at Grove Isle Boat Dock Rendering Aside from the newly constructed luxury towers, new residents also have a choice of a variety of single family residences. There are historical homes in Spanish Revival or Midcentury Modern designs, as well as contemporary and minimalistic homes that are of newer construction. Ken Griffin, the founder of Chicago’s Citadel has chosen not one but two waterfront homes for his relocation to the sunshine state with his purchase of philanthropist Adrienne Arsht’s waterfront Coconut Grove compound for $107 million last year. Coconut Grove Entertainment There is a lot more to an A+ neighborhood than just beautiful real estate. Variety also recognized the renaissance that is underway in the retail & dining district called CocoWalk. The 1990’s-built outdoor mall had fallen into disrepair and despair, but after being purchased by a new investment group who partnered with private developers and utilized a $10 million FEMA grant after Hurricane Irma, it is now a bustling attraction once more. In addition to the upgrade/update of CocoWalk, the City of Miami has overseen a $70 million renovation of Dinner Key Marina. This provides sleek and chic waterfront eateries, boat docks and a slew of new retail outlets. Just around the corner, the iconic Mayfair House Hotel & Garden has been retrofitted to the tune of $50 million and added a rooftop bar/lounge and 179 updated guest suites. Mayfair House Lobby Coconut Grove Despite all of the new towers and renovations, some of the more popular traditions are being kept alive. The Coconut Grove Art Festival remains one of the city’s most well-attended events each spring. The last Sunday of the year also brings the quirky and fun King Mango Strut, the community’s “Satirical Stroll” where attendees are encouraged to dress in theme, poking fun at pop culture, politics or any newsworthy event of the year. It is always a good time for easy laughs. Coconut Grove Arts Festival 2022 Coconut Grove Neighborhood All of this family fun and fortunate living is wrapped up in a perfect little location that is so close to Downtown Miami and Brickell that you can really get by without a car if you have that craving. It is the only place in Miami that will offer such proximity to the business center, has great schools and a thriving community of “stealth wealth” options for down to earth families to bloom together. We can certainly see how Variety would choose Coconut Grove as THE place in Miami for Los Angeles to lose residents to. Being local Groveites for nearly 15 years, we welcome newcomers with open arms and all of the market knowledge/stats you might need or want when deciding were to settle down. A Must Read: The Essential Guide to Coconut Grove Restaurants If you are interested in learning more about life in Coconut Grove, please contact Michael Light, Grove resident as well as Broker and Executive Director of Luxury Sales at Douglas Elliman Real Estate. We would love to have you as a neighbor.
2023 Coconut Grove Real Estate Values | Year-Over-Year Numbers Posted on March 15, 2023April 11, 2023 by Michael Light As I do every year (and I am a bit late this year), I compile and analyze all of the sales in Coconut Grove (per MLS data – which takes me several weeks) over the previous year and look at where our community is trending. Once again, Coconut Grove outpaced a cooling national real estate market by setting new, all-time records across multiple categories. I am a Groveite through and through. I met my wife in the Grove 13 years ago, was married in the Grove (St. Hugh), my reception was in the Grove (Villa Woodbine), I have lived in the Grove for the past 13 years, and I am the Executive Director of Luxury Sales at Douglas Elliman in our Grove office at Two CocoWalk. I have put together this report for the past 9 years because I care about the health of our community and helping people understand where the Grove housing market has been and is headed. The overall market in South Florida exploded in 2021 and continued in 2022 due to an enormous influx of buyers from New York, Chicago and L.A. because of our favorable tax rates, Covid and “the way that Florida is being run” – (that last one being the most popular answer when asking buyers “why Florida?”). The Coconut Grove real estate market had increased year-over-year for 8 consecutive years until it exploded in 2020 and then basically shattered every metric ever tabulated in 2021…and then did it again in 2022 by most metrics. Here are some takeaways from the 2022 numbers: Total sales volume in ALL of the Grove fell sharply from 2021’s record number of $1,452,047,154 to $855,771,046 in 2022; BUT… The average sales price in ALL of the Grove set another all-time high at $1,824,672 , an 88.5% jump from $968,237 in 2019 (pre-Covid). The average sales price per square foot in ALL of the Grove also set another new, all-time high at $813.28, a 27.8% jump over the previous high of $636.63 in 2021 and completely destroying the pre-Covid 2019 high of $431.92 by a staggering 88.3%. South Grove was the first neighborhood to EVER break the $1,000 per sq/ft average when it hit $1,042.48 in 2022! Average days on market in ALL of the Grove hit its lowest number ever with properties only being on the market for 48 days before going under contract. Coconut Grove Real Estate – Months of Supply (February 2023) Months of supply means how long it would take for the market to absorb all real estate, if no additional real estate came to market. This stat determines whether it is a Buyer’s Market or Seller’s Market. When looking at statistics, having a 6-month supply or less favors sellers while more than 6 months favors buyers. Single-Family Homes: 8.3-Month Supply (Buyer’s Market) 83 Currently Available 60 Sold in Past 6 Months Condos: 5-Month Supply (Slight Seller’s Market) 62 Currently Available 75 Sold in Past 6 Months Townhomes: 5.2-Month Supply ( Slight Seller’s Market) 20 Currently Available 23 Sold in Past 6 Months Below, I have laid out all of the 2022 Coconut Grove real estate statistics and then a year-over-year comparison of 2022 versus 2021. 2022 Coconut Grove Real Estate Sales by the Numbers: Total Number of Sales: 469 Total Sales Volume: $855,771,046 Average List Price: $1,896,882 Median List Price: $1,399,000 Average Sales Price: $1,824,672 (96.2% of List Price) Median Sales Price: $1,350,000 (96.5% of List Price) Average Sales Price Per SQ/FT: $813.28 Median Sales Price Per SQ/FT: $708.44 Days on Market: 48 Average / 23 Median Highest Priced Sale of 2022: 1800 S. Bayshore Ln. Closed on 07/29/2022 @ $15,000,000 ($2,241.82 per sq/ft) Lowest Priced Sale of 2022: 2630 SW 28th St. #46 Closed on 03/01/2022 @ $165,000 ($342.32 per sq/ft) Download: 2022 ALL Coconut Grove Real Estate Sales Data 2022 vs. 2021 ALL Coconut Grove Sales Year-Over-Year Numbers: Total Number of Sales: DOWN 331 (-41.4%) | 469 in 2022 vs. 800 in 2021 (492 in 2020) Total Sales Volume: DOWN $596,276,108 (-41.0%) | $855,771,046 in 2022 vs. $1,452,047,154 in 2021 ($541,812,781 in 2020 ($476,234,676 in 2019) Average List Price: DOWN $17,114 (-0.9%) | $1,896,882 in 2022 vs. $1,913,996 in 2021 ($1,188,287 in 2020 ($1,043,411 in 2019) Median List Price: UP $226,500 (+19.3%) | $1,399,000 in 2022 vs. $1,172,500 in 2021 ($875,000 in 2020 ($798,500 in 2019) Average Sales Price: UP $9,613 (+0.5%) | $1,824,672 in 2022 vs. $1,815,059 in 2021 ($1,101,245 in 2020 ($968,237 in 2019) Median Sales Price: UP $250,000 (+22.7%) | $1,350,000 in 2022 vs. $1,100,000 in 2021 ($811,000 in 2020 ($747,500 in 2019) Average Sales Price Per SQ/FT: UP $176.65 (+27.8%) | $813.28 in 2022 vs. $636.63 in 2021 ($459.27 in 2020 ($431.92 in 2019) Median Sales Price Per SQ/FT: UP $155.80 (+28.2%) | $708.44 in 2022 vs. $552.64 in 2021 ($410.28 in 2020 ($393.70 in 2019) Coconut Grove Neighborhoods Map To local Groveites looking to sell, and buyers purchasing property in Coconut Grove, I have broken down the statistics of the different areas of the Grove. Coconut Grove is locally referred to in parts, i.e. North, South, Center and West (for example, CocoWalk and Mr. C Hotel are both located in Center Grove and Kennedy Park is located in North Grove). 2022 vs. 2021 NORTH Coconut Grove Sales by the Numbers: Total Number of Sales: 155 in 2022 | 281 in 2021 (192 in 2020) Average List Price: $2,368,218 in 2022 | $2,080,521 in 2021 ($1,427,992 in 2020) Median List Price: $1,975,000 in 2022 | $1,349,000 in 2021 ($1,100,000 in 2020) Average Sales Price: (+15.4%) $2,255,965 in 2022 | $1,954,750 in 2021 ($1,303,196 in 2020) Median Sales Price: (+41.0%) $1,833,000 in 2022 | $1,300,000 in 2021 ($1,050,000 in 2020) Average Sales Price Per SQ/FT: (+33.9%) $869.96 in 2022 | $649.80 in 2021 ($473.26 in 2020) Median Sales Price Per SQ/FT: (+36.0%) $811.79 in 2022 | $596.97 in 2021 ($436.72 in 2020) Days on Market: 50 Average | 30 Median in 2022 (95 Average | 45 Median in 2021) Highest Priced Sale of 2022: 1800 S. Bayshore Ln. Closed on 07/29/2022 @ $15,000,000 ($2,241.82per sq/ft) Lowest Priced Sale of 2022: 2630 SW 28th St. #46 Closed on 03/01/2022 @ $165,000 ($342.32 per sq/ft) 2022 vs. 2021 SOUTH Coconut Grove Sales by the Numbers: Total Number of Sales: 40 in 2022 | 112 in 2021 (54 in 2020) Average List Price: $4,239,297 in 2022 | $3,792,882 in 2021 ($2,003,343 in 2020) Median List Price: $3,172,500 in 2022 | $2,287,450 in 2021 ($1,519,000 in 2020) Average Sales Price: (+13.0%) $4,069,500 in 2022 | $3,602,096 in 2021 ($1,878,919 in 2020) Median Sales Price: (+26.9%) $2,900,000 in 2022 | $2,286,060 in 2021 ($1,387,500 in 2020) Average Sales Price Per SQ/FT: (+36.4%) $1,042.48 in 2022 | $764.06 in 2021 ($538.08 in 2020) Median Sales Price Per SQ/FT: (+44.9%) $973.45 in 2022 | $671.69 in 2021 ($501.22 in 2020) Days on Market: 40 Average | 21 Median in 2022 (82 Average | 37 Median in 2021) Highest Priced Sale of 2022: 3467 N. Moorings Way Closed on 10/17/2022 @ $14,700,000 ($2,345.25 per sq/ft) Lowest Priced Sale of 2022: 4178 El Prado Blvd. Closed on 01/24/2022 @ $858,000 (Land Sale) 2022 vs. 2021 CENTER Coconut Grove Sales by the Numbers: Total Number of Sales: 201 in 2022 | 289 in 2021 (155 in 2020) Average List Price: $1,209,295 in 2022 | $1,239,859 in 2021 ($765,628 in 2020) Median List Price: $850,000 in 2022 | $729,000 in 2021 ($589,000 in 2020) Average Sales Price: (-1.0%) $1,173,432 in 2022 | $1,184,823 in 2021 ($717,214 in 2020) Median Sales Price: (+16.7%) $816,563 in 2022 | $700,000 in 2021 ($560,000 in 2020) Average Sales Price Per SQ/FT: (+21.7%) $748.28 in 2022 | $614.85 in 2021 ($447.12 in 2020) Median Sales Price Per SQ/FT: (+26.2%) $630.58 in 2022 | $499.68 in 2021 ($387.17 in 2020) Days on Market: 48 Average | 18 Median in 2022 (88 Average | 43 Median in 2021) Highest Priced Sale of 2022: 3503 Wildwood Cir. Closed on 01/28/2022 @ $8,700,000 ($1,469.10 per sq/ft) Lowest Priced Sale of 2022: 3245 Virginia St. #38 Closed on 08/31/2022 @ $220,000 ($428.02 per sq/ft) 2022 vs. 2021 WEST Coconut Grove Sales by the Numbers: Total Number of Sales: 75 in 2022 | 119 in 2021 (92 in 2020) Average List Price: $1,630,657 in 2022 | $1,384,312 in 2021 ($913,367 in 2020) Median List Price: $1,237,562 in 2022 | $1,200,000 in 2021 ($787,500 in 2020) Average Sales Price: (+18.5%) $1,575,181 in 2022 | $1,329,108 in 2021 ($862,709 in 2020) Median Sales Price: (+7.5%) $1,225,000 in 2022 | $1,140,000 in 2021 ($760,000 in 2020) Average Sales Price Per SQ/FT: (+36.2%) $736.28 in 2022 | $540.77 in 2021 ($402.47 in 2020) Median Sales Price Per SQ/FT: (+39.0%) $686.81 in 2022 | $494.14 in 2021 ($388.44 in 2020) Days on Market: 50 Average | 31 Median in 2022 (83 Average | 34 Median in 2021) Highest Priced Sale of 2022: 3316 Devon Ct. Closed on 05/25/2022 @ $10,500,000 ($944.50 per sq/ft) Lowest Priced Sale of 2022: 3615 Thomas Ave. #16 Closed on 11/09/2022 @ $182,000 ($390.56 per sq/ft) If you, or someone you know, would like to purchase or sell real estate in Coconut Grove, please contact me, Michael Light, Founder/Owner of the Light Group at Douglas Elliman Real Estate. I am a resident of Coconut Grove and have direct knowledge of the Coconut Grove real estate market. You may reach me directly at my CocoWalk office at 305-350-9842, on my cell phone at 786-566-1700 or via email at michael@miamiluxuryhomes.com. Looking for past Coconut Grove market statistic articles? Here they are: 2021 Coconut Grove Market Report 2020 Coconut Grove Market Report 2019 Coconut Grove Market Report 2018 Coconut Grove Market Report 2017 Coconut Grove Market Report 2016 Coconut Grove Market Report 2015 Coconut Grove Market Report 2014 Coconut Grove Market Report Disclaimer: The statistics referenced herein were retrieved from the Multiple Listing Service (MLS) on February 28, 2023. Any closed sales not listed in the MLS are not included in the statistics referenced herein. The MLS search criteria used was 33133 zip code + map outline + city not equal to “Coral Gables.” The statistics separated into North, South, Center and West Grove were separated according to the map shown above and may not be accurate. In addition, the information contained herein is for informative purposes only and should not be relied upon.
Vita At Grove Isle Set To Begin Construction – Completion Timeline Announced Posted on February 23, 2023February 25, 2023 by Sarah Elles Boggs It may look like a luxurious flying saucer rising from a 20-acre private island, but it is actually Ugo Colombo’s latest contribution to Miami’s shoreline. Vita at Grove Isle is preparing to begin construction soon, with completion scheduled for late 2024. The project began at a snail’s pace, riddled with litigation from neighbors on Grove Isle who were not eager to have more neighbors on the private island. After changing hands to Ugo Colombo’s CMC Group, things ran more smoothly. Initially called The Markers, it underwent a complete redesign under the watchful eye of Mr. Colombo, whose other contributions to the skyline include Epic Residences in Downtown Miami as well as Brickell Flatiron in the Financial District and Santa Maria along the quiet South Brickell waterfront. Despite being nearly 30 years old, the most affordable residence in Santa Maria is currently $2 million, but prices in the development routinely average in the $4-$6 million range. Vita at Grove Isle has been scaled back to only 65 residences, so is meant to feel like single-family residences without the upkeep necessary for a stand-alone home. The 7-story project is actually 3 different buildings that wrap along the curve of the Biscayne Bay. Being from Milan, Colombo prides himself in using only the highest-quality materials for every inch of his projects and this shows. Buildings in his portfolio tend to offer more longevity in their beauty and newness than some other projects. For instance, by looking at Epic Residences, you would never realize that this building is 15 years old this year. It appears just as new as Brickell Flatiron, which was completed in 2019. “Each home will have unobstructed panoramic waterfront views and will offer estate-sized condominium living, featuring hand-picked finishes I’ve personally sourced from Italy,” Colombo says. “The care and quality in this project is only made possible through our philosophy of developing just one or two projects at a time—a rarity in Miami.” Vita at Grove Isle in Coconut Grove Rendering Rendering of Vita at Grove Isle Balcony At Vita, each residence will feature bookmatched marble, state-of-the-art designer appliances and cabinetry. Noce Canaletto wood paneling will adorn the walls of the powder rooms with sinks carved from Marquina marble. The atmosphere is tranquil, private and peaceful, with each elevator servicing only 2 residences per floor. This is perfect for people who are phasing out of high-upkeep single family homes but still expect a certain level of service and privacy. Rendering of Vita at Grove Isle Kitchen Rendering of Vita at Grove Isle Dining Room Sales for the project began in late March of 2022, quickly selling 20% of the residences. Select inventory is still available with prices starting at $5 million. Layouts range from 2,500 square feet to 6,500 square feet with penthouses spanning 3,400 square feet to 6,600 square feet. The upper penthouses feature private rooftop terraces with full-sized swimming pools and summer kitchens, from $10 million. Now that potential buyers see that the date of completion is in short sight, we expect that the remaining inventory will be signed for soon. If you are interested in a presentation and specific pricing, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman AND long-time Coconut Grove resident. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.
Inside The Selection Process For The Coconut Grove Arts Festival 2023 Posted on January 31, 2023February 9, 2023 by Sarah Elles Boggs Well, we made it through January in Coconut Grove, so you all know what that means. It’s time to start looking forward to the Coconut Grove Arts Festival! The 59th Annual Coconut Grove Arts Festival is scheduled to take place February 18, 19, and 20th at 2700 South Bayshore Drive. This year, artists were encouraged to highlight “a different type of hue.” But how do they do this? And how is it decided which artists will be showing at this year’s festival? The Coconut Grove Art Festival is led by executive director Camille Marchese, who relies upon the support of the Art Festival president Monty Trainer as well as a board of directors. Together, they have implemented a new strategy for this year’s selection process. “I want the discerning collector to understand this is a highly curated show,” Marchese said in a press release. “While Miami is the greatest place in the world for this show, the reach, talent, and expression of this show goes far beyond our area.” A body of jurists has been built, comprised of renowned artists and industry veterans from all over the United States who all share the same passion for art and strive to expand the prestige of the Coconut Grove Arts Festival further than it currently is. As ambitious as the task sounds, the festival is already ranked in the top 5 outdoor art festivals in the nation, so we have already earned a great deal of respect in creative circles everywhere. The new curation process is completely blind. None of the judges is informed of the name, location, ethnicity or race of any artist who submits their work. This keeps the playing field fair for all, and qualms concerns that the festival is nothing more than a showcase of regional talent (although we are flattered that critics recognize how plentiful our home turf is with amazing artistic talent). Beginning May 2022, each submission from over 1,000 artists was reviewed and scored by the judges. The scores ultimately determined who is invited to show at the festival and there is room for 285 artists. There are more than a dozen categories, which include mixed media in 2D or in 3D, clay, glass, jewelry, metal, painting, photography, sculpture, woodworking, watercolor and print-making. “We wanted to make sure we had the most critical eyes evaluating the submissions,” Marchese continued. “Being selected for a fine art festival is competitive and we’re proud to have the best talents and thinkers in the art world joining us in this process.” The jury is comprised of 5 participants from across the country, each being a professional expert in their field and a true believer in the mission of the Coconut Grove Arts Festival. “In the end, our commitment is to produce the No. 1 art festival in the country. Our director is a true believer in the mission of the Coconut Grove Art Festival,” Trainer said. “And being No. 1 means that we have a show based on artistic excellence, a show that is representative of diverse styles and techniques with a broad range of pricing with artists from around the world. There truly will be something for everyone.” The 59th Annual Coconut Grove Arts Festival will run during Presidents’ Day weekend from 10am-6pm. Tickets start at $20 and can be purchased on the official Coconut Grove Arts Festival Website.
Miami’s Hottest Neighborhood Once More – Inside Coconut Grove’s Renaissance Posted on January 18, 2023January 22, 2023 by Sarah Elles Boggs Emerging from its chrysalis, Coconut Grove is embracing its time in the limelight once more. Not only has the haven of foliage been named one of the coolest neighborhoods in the world by Timeout.com, The Hollywood Reporter gives additional details on how the sleepy enclave has re-emerged as a modern hotspot after decades on the sidelines. Imagine a quiet neighborhood that is located along a bay or harbor covered by a beautiful canopy of native trees and tropical flowers. There is a highway system nearby, making a trip out of the enclave quick and painless. You are surrounded by chic restaurants, a walkable entertainment district and a few beautiful residential and office towers designed by world-renowned starchitects. Prices are reasonable despite the fact that you also have historic waterfront estates that are luxurious enough for A-list celebrities while also being low-key enough for those who shy away from the limelight. The local school system is such that new residents position their purchases within bounds of the district just so their children are able to obtain a top-notch education in a tight-knit community. In addition to the internationally-focused public school, there are also a host of nationally-recognized top private schools to choose from. It is a place of security, luxury, and convenience without having to sacrifice personality. Quirkiness is encouraged and embraced. I have just described Coconut Grove. Coconut Grove, Florida The Hollywood Reporter cites the prominence of Coconut Grove as being due to the village’s walkability. While this is a top factor in the draw to the neighborhood, it does not tell the whole story. Everything started with the renovation of CocoWalk, which began in 2015 when the outdoor entertainment area sold for $87.5 million. The new owners did away with the tired chain stores such as Cheesecake Factory, Victoria’s Secret and GAP, paving the way for a new era with $150 million of upgrades and modernization. At the time, we recognized that this was a much needed transition and today we are ever so proud of the results in the neighborhood we call home. The renovation has proven to be successful, ushering in a new era for our peaceful community. As we still call the Grove home, our family is never at a loss for things to do. We can walk with our toddler-age daughter to the bayfront for any number of activities. There are always festivals and events such as the King Mango Strut, which made it’s post-COVID return last week and the Coconut Grove Arts Festival (coming up next month, stay tuned for details!). Rather than eating from the same menu you might find in suburban Ohio, you will find a wide range of sophisticated fare from around the globe, and in proper form too! Two of the Grove’s popular eateries have recently received a Michelin Star. Los Felix offers indigenously-inspired bites of traditional Mexican recipes just around the corner from Coco Walk, with Ariete offering a bold revolving menu that pays homage to the chef’s Cuban heritage with French cooking techniques just a few minutes away. Ariete Coconut Grove Aside from the Michelin-listed restaurants, there are a host of other creative and authentic eateries in the village. Residents enjoy Amal for Lebanese fusion, BAKAN for a culinary tour of all regions of Mexico, Narbona for an European market feel, and an afternoon at Regatta Harbour will take you on a tour of the history of Coconut Grove. The Real Estate in Coconut Grove You might be wondering where all of these new Groveites are living. As it is our business, we stay on the cutting edge of all things residential in the Grove. We love making neighbors and seeing the community grow. In the beginning, Coconut Grove was a cozy little community of Bahamian settlers, which is the reason that you will find many Bahamian-inspired homes in the area. As it became more settled in the 70’s and 80’s, townhomes began to pop up throughout the area with stately mansions lining the deep bayfront lots. Today’s Grove has embraced this history and added a splash of modern appeal. Many of the original (non-historic) townhomes have been redeveloped into modern style with clean lines and energy and space-efficient designs. Condo towers began to pop up and have attracted luxury brands such as the Ritz Carlton and Mr. C Hotel and Residences. Starchitects arrived with cutting edge designs including the twisting towers of Grove at Grand Bay and the glistening amenity-filled Park Grove Residences. Boutique waterfront developments such as The Fairchild Coconut Grove and Residences of Vizcaya brought peace and tranquility to nearby waterfront sites. A-list celebrities, world-renowned artists, sports pros and international business executives live, work and play among the locals and all is well in the world in Coconut Grove. We know because we live it every day. We embrace our community during its ups and downs and happily create neighbors, especially when the climate in Coconut Grove is as nice as it is today. If you are interested in learning more about life in Coconut Grove, please contact Michael Light, Grove resident as well as Broker and Executive Director of Luxury Sales at Douglas Elliman Real Estate. We would love to have you as a neighbor.
Keep Your New Year Resolutions At The Residences Coconut Grove – A Wellness-Focused Development Posted on January 4, 2023March 4, 2023 by Sarah Elles Boggs New year, new me! This can certainly be you at any time of the year at The Residences Coconut Grove, which is slated to begin construction in 2023. Terra Group and Arquitectonica have partnered up to bring a new wellness-focused midrise development to the area and it will be a welcome addition. The new project will rise 5 stories, with 148 residential condominiums, just over 22,000 square feet of commercial space, and 344 below-ground parking spaces. With this number of parking spaces, we expect that each residential condo will receive one assigned space and a second valet space. That would leave ample parking for the commercial space as well as those residents who require more than one space. Located at 2855 Tigertail Avenue, the existing Malone Hotel is planned to be demolished in order to make way for the development. Since the design does not request any variations to the zoning code, it is anticipated that the project should move forward quickly. Neither Terra or Arquitectonica are new to this area. Terra is responsible for such skyline-changing projects as Park Grove and Grove at Grand Bay in Coconut Grove and Arquitectonica’s designs are synonymous with Miami’s skyline after 40-something years of projects rising. They are responsible for the design at the nearby Mr. C Residences along with countless others in Miami-Dade County. The renderings show a coral rock façade with an expansive rooftop amenity deck that includes a pool and lush gardens, presumably designed by ArquitectonicaGEO. Even beyond the development walls, there is ample opportunity for wellness. The project is located just 1 block from Dinner Key, where you can find all sorts of healthy activities including sailing, jogging, yoga, sportfishing, petitioning City Hall, work out outdoors, etc. Afterward, you can go just one block to the south and ruin all of your progress with any number of restaurants right at your doorstep. Of course I am joking about ruining your progress, but the point is that you will never be lacking for something to do in the location of The Residences Coconut Grove. Details of the interiors are still scarce at this time, so we do not yet have plans or prices. If you would like to be added to the list to be notified once the whisper campaign begins (i.e. if you would like to know more before the public), simply reach out. We are just around the corner and happy to keep you informed. Rendering of The Residences Coconut Grove Streetscape West Rendering of The Residences Coconut Grove Streetscape Point Rendering of The Residences Coconut Grove Streetscape Evening Rendering of The Residences Coconut Grove Streetscape Bikes Rendering of The Residences Coconut Grove Rooftop Rendering of The Residences Coconut Grove Motorcourt Rendering of The Residences Coconut Grove Aerial View
This Miami Neighborhood Ranked In Top 30 Neighborhoods In The WORLD For 2023 Posted on January 2, 2023January 9, 2023 by Sarah Elles Boggs It is no secret that Miami is a cool place to live. There are songs about it, we seem to have a permanent spot on the “Top Places For _______” lists (insert literally whatever metric you are surveying), but this time it is different. This Miami neighborhood has the flex of bragging that it ranked under 30 in Timeout.com’s list of Coolest Neighborhoods in the WORLD. Not only is Coconut Grove the only neighborhood in Miami to earn this honor, it is one of only six neighborhoods in the United States on the list. Each year, the folks at TimeOut.com canvas thousands of city-dwellers from around the world with their Time Out Index Survey. This survey asks which spots in their city are the coolest spots at the moment. This data is compiled with expert input from Time Out’s global network of local editors and writers and VIOLA! We have our list. Welcome to Coconut Grove! What makes it so cool? So, what exactly happens in Coconut Grove that makes it so cool? For starters, the vibe. If you have not yet visited The Grove (as locals refer to it), you are in for a treat. Feel free to be casual, because it is a funky, quirky, hippy-haven with Bahamian influences. Talk about chill to the bone. There is tons of local art, an amazing farmer’s market that is a go-to for folks from across the metro area, and we can’t forget the quirky King Mango Strut that will be returning this Sunday! Despite being the oldest continually-inhabited area of Miami, Coconut Grove still has a hometown feel. Beginning in the 1800’s as an enormous mangrove-turned-Bahamian-enclave, The Grove has had several different reinventions. It has been a haven for hippies in the 60’s and 70’s, cocaine cowboys in the 80’s, college students who enjoy the proximity to The University of Miami, and now a still quirky-yet-refined period of coolness that is nestled along the waterfront, surrounded by the stately mansions of Coral Gables and the glimmering skyscrapers in Brickell. Coconut Grove really does have it all. You can live in either a stately mansion, a convenient townhome or a glittering skyscraper in The Grove, dine through a ventanita or at a Michelin-starred restaurant, and grab a snack at the trendy Panther Coffee, or a decades-old lemonade truck. Versatility is the name of the game in Coconut Grove. Over recent years, there has been yet another renaissance for the neighborhood. A host of new bars and restaurants have arrived following the full-blown overhaul of Cocowalk, the central open-air shopping district that now boasts a new movie theater, chic restaurants, and *ahem* our office. The historic Mayfair Hotel has reopened following a complete renovation. Dave Grutman (Groot), one of the top nightlife and entertainment moguls in the 305, has laid roots in The Grove with The Key Club, and Regatta Harbour has opened on the bayfront, offering the new Bayshore Club. In addition to all of this, Coconut Grove is also home to not one, but two restaurants that have received a Michelin star. There is never a dull moment in this neighborhood, just as we are rested up from the King Mango Strut, it is time to start planning the Coconut Grove Arts Festival, which brings roughly 300 international artists to showcase their creations over Presidents’ Day Weekend in February, before the summer heat starts to creep in, driving us back to our chill patios and beautiful homes just blocks away. Come and check it out!