Cocoplum Real Estate News: a must read for all sellers!

Cocoplum Real Estate News: Recent Sales Have Shown an Upward Trend in Prices

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Here is our update. Thus far in 2016 sale prices in Cocoplum had been seeing a slight dip, but 2 sales will push these averages over. Just last week 9 Tahiti Beach closed for an eye popping $23.5M, a record breaking sale for Cocoplum real estate and the second-highest residential sale in Miami-Dade County this year.

Tahiti Beach is a renowned private community within Cocoplum and one of the most prestigious locations in Coral Gables. The 3 story home with 155 feet of waterfont closed at $1,907 per Sq.Ft, representing the highest price per Sq.Ft sale in Cocoplum. In December of 2015, 24 Tahiti Beach, which is a larger home and sits on a larger lot sold for $10,900,000 ($648 per Sq.Ft). If you see where these homes are situated on the Island, 9 Tahiti has the better view and the home has impeccable interiors by Ramon Pacheco/Jonathan Hogg.

9 Tahiti Beach was put on the market for $28 million three months ago. The seller is listed in public records as Adrianne Mittentag. The couple paid $2.32 million for the property in 1997. They tore down an existing home and built the mansion four years later. These kind of investment opportunities are quite common in Miami. Tearing down an existing house and rebuilding a luxury mansion has become a true trend.

Dry lots themselves have also seen a slight dip in the price per Sq.Ft. But much like the recent sale on Tahiti Beach the numbers are certain to change as 141 Rosales went pending in June and is scheduled to close at the end of August. This new construction built by Chatburn Group was listed at $4.8M ($854 per Sq.Ft). We will keep you posted when this property closes but be assured that anything over $630 per Sq.Ft will represent a record for dry lots in Cocoplum. The previous record for a dry lot was last May when 8020 Los Pinos Blvd sold for $629 per Sq.Ft. This was a much smaller home and the sales price was $2,080,000.