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    Park Grove - 2701 S Bayshore Dr, Miami, FL 33133

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    This Project is currently in PRE-CONSTRUCTION
    • Price Range

      $660,000 - $10M+

    • Year Built

      2017

    • Total Units

      298

    • Stories

      23

    • Bedrooms

      1-5

    • SF Range

      750 − 5,000 SF+

    • Average Price PSF

      $650+ SF

    • Average DOM

      -

    Coconut Grove Real Estate

    Neighborhood

    Coconut Grove Real Estate

    View Neighborhood Details

    description news articles Statistics Floorplans Request more info

    Park Grove in Coconut Grove

     

    We have all the information on Park Grove – Floorpans, prices and renderings PLUS articles, comparison reports and analysis from a Top Producing Grove Luxury Realtor.  Park Grove in Coconut Grove is a new architectural masterpiece by Rem Koolhaas’ Office for Metropolitan Architecture. The Park Grove Condo project will feature 3 towers and 298 completely finished residential units located in a 5.2-acre waterfront park with over 50,000 Sq.Ft of amenities and a major collection of Art, displayed throughout the property.

     

    Park Grove in Coconut Grove is special in its kind as in Coconut Grove there are only a limited number of ultra-luxurious condos for sale. The Grove at Grand Bay Project which is being built in the same area at Park Grove was the first project to be build in a long time and this project sold out in rapid paste.

     

    Park Grove really sets itself apart by providing a high-quality product with high-end finishes in an area where there is a lot of demand for Luxury Real Estate yet limited inventory.

     


    Fast Facts: Park Grove Residences in Coconut Grove

     

    Designed by a world-class team of leading architects, designers, and developers, Park Grove marries inventive modern design with the area’s rich cultural legacy, creating an ambiance that is as luxurious as it is relaxed. From its residences to its amenities and club, Park Grove offers the ultimate in serene bayfront living.

     

     


    Features of Park Grove Coconut Grove

     

    Designed by a world-class team of leading architects, designers, and developers, this Coconut Grove luxury condo marries inventive modern design with the area’s rich cultural legacy, creating an ambiance that is as luxurious as it is relaxed. From its residences to its amenities and club, Park Grove offers the ultimate in serene bayfront living.

     

    • Designed by World-Renowned architect OMA, Rem Koolhaas
    • Expansive Bay and City Views
    • Certified LEED® Silver
    • 24-Hour Concierge & Valet Service | Butler Service
    • Nautical Themed Concierge for Booking Yachts, Boats, Sailing Lessons, etc.
    • Reception, and Mail Room for each Residential Tower
    • Lush Landscaped Gardens by Enzo Enea
    • Sculpture Garden
    • Artwork by Notable Sculptors and Artists
    • Lobbies and Amenity Area designed by William Sofield
    • Dedicated Penthouse Pools

    The Amenities at Park Grove Coconut Grove

     

    To be accessed by all Park Grove residents as well as outside members

     

    • Club to be Accessed by all Park Grove Residents
    • Curated Events and Speaking Appearances by Top Leaders in Diverse Industries
    • Private Musical Performances by Acclaimed Artists
    • Private Movie Screenings and Epicurean Events
    • Concierge Services
    • Luxurious Pool with Private Cabanas
    • Large Dining Area and Full Service Kitchen with Acclaimed Chef
    • Bayview Dining Room for Private Events
    • Library/Lounge Area
    • Social Spaces
    • State-of-the-Art Fitness Center, including:
      • Top-of-the-Line Fitness Equipment and Free Weights
      • Private Training Rooms, including Yoga, Pilates, and Spinning Studio
      • Indoor/Outdoor Yoga Spaces
    • Spa with Personal Treatment Rooms, Steam, and Sauna
    • Men’s and Women’s Locker Rooms
    • Amphitheater Outdoor Event Space
    • Private Screening/Media Room
    • Adult Gaming Room including Billiards and Table Tennis
    • Wine Cellar and Wine Lockers for Residents
    • Private Business Center with Meeting Rooms
    • Large Conference Room/Boardroom with Video Conferencing Capabilities and Integrated Media Systems
    • Library
    • Storage for Bike and Watercraft Storage
    • Residents’ Lounge for Events
    • Children’s Indoor and Outdoor Play Area

     


    The different Towers of Park Grove Explained

     

    Towers 1 is the most exclusive tower at Park Grove. The condo offers the most expansive units as well as the best bay views.  One Park Grove will have some unique and stunning characteristics like only 3 residences per floor, 12 Ft ceiling, 20 Ft wide balconies, private elevators and some residences will feature private pools. Tower 1 prices are starting from $4,2M

     

    More information including the floor plans on One Park Grove

    Tower 2 will have some unique and stunning characteristics like only 4 residences per floor, 12 Ft ceiling, very deep balconies, private elevators and selected units will have private pools.  Tower 2 prices are starting from $2,25M

     

    More information on Tower 2 and 3 at the Park Grove Project
    Floor plans of Tower 2
    Flexible Floor Plans of tower 2
    Floor Plans of Tower 3

    Tower 3 (The Park Grove Club Residences) will have 10Ft Ceilings. There will be more units per floor and residences will be slightly smaller than residences in tower 1 or 2.  Tower 3 prices are starting from $660,000

     


    Why is Park Grove in Coconut Grove a Great Investment?

     

    • Limited supply of luxury Coconut Grove Condos but a high demand
    • A true luxury product with high-end finishes and state of the art amenities
    • Park Grove Condo in Coconut Grove is located in 5.2 acres of waterfront parcel with over 50,000 Sq.Ft of amenities
    • Park Grove is designed by a world-class team of leading architects, designers, and developers
    • Tower 1 and 2 have 12ft Ceilings and tower 3 has 10 Ft Ceilings

     


    What is the best condo in Coconut Grove?
    Overview of all the Coconut Grove Pre-construction condos
    Grove at Grand Bay 
    Fairchild Coconut Grove
    Overview of all luxury resale condos in Coconut Grove
    The 8 Reasons to live in Coconut Grove

    The best realtor in Coconut Grove

    Everything You Need to Know About Relocating to Coconut Grove

    May 9, 2017
    read full article

    How Wealthy Miami Home Owners are Downsizing Without Compromise

    April 20, 2017
    read full article

    The Best Luxury Condo's in Miami - Voted by top agents.

    April 20, 2017
    read full article
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    Why Park Grove in Coconut Grove is such a great Investment - An independent review -

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    • For Sale
    • For rent
    • sold
    • Price Range

    • Year Built

    • Total Units

    • Stories

    • Bedrooms

    • SF Range

    • Average Price PSF

    • Average DOM

    Why Park Grove in Coconut Grove is such a great Investment - An independent review

    Neighborhood

    Why Park Grove in Coconut Grove is such a great Investment - An independent review

    View Neighborhood Details

    description news articles Statistics Floorplans Request more info

    The Investment Value of Park Grove in Coconut Grove

    The Park Grove Condo Project is a fast selling new luxury condo project in Coconut Grove. The Coconut Grove condo project offers 3 towers and is located in the middle of a newly developed waterfront park.

     Read here all the information on Park Grove – Floor Plans, Price Ranges, More Pics and Residence Details

    Park Grove Condo in Coconut Grove offers Great investment values. Read here why

    Park Grove Condo in Coconut Grove offers Great investment values. Read here why

    Park Grove Residences in Coconut Grove. Expectations will be exceeded with this high end condo on a waterfront parcel

    Park Grove Residences in Coconut Grove. Expectations will be exceeded with this high end condo on a waterfront parcel

    The Amenities at Park Grove Condo are taken to the next level! The Condo park offers pools, fitness, yoga, a private chef and much more to enrich your lives!

    The Amenities at Park Grove Condo are taken to the next level! The Condo park offers pools, fitness, yoga, a private chef and much more to enrich your lives!

    This is the first Coconut Grove Luxury Condo to be build in a long time (after Grove at Grand Bay) and therefore a hot commodity. The condo inventory in the Grove is limited and Park Grove satisfies the needs of many young professionals, families and investors  looking for upscale Grove Condo living.

    The David Siddons Group has been accompanying many clients to the sales center and is a true expert now when it comes to the project. Comparing the project with other luxury Condos in Miami it can be said that the finishes and the amenities of Park Grove are superior.

     Read here all the information on Park Grove – Floor Plans, Price Ranges, More Pics and Residence Details

    The Three Luxury Residential Towers of Park Grove in Coconut Grove. The luxury residences are located in a beautifully landscaped and waterfront park by Enzo Enea

    The Three Luxury Residential Towers of Park Grove in Coconut Grove. The luxury residences are located in a beautifully landscaped and waterfront park by Enzo Enea

    Fast Facts: Park Grove Residences in Coconut Grove

     

    Park Grove will consist of 3 towers with towers 2 and 3 being build and sold first. Tower 1 will start selling in about a year.

    Renderings of the location of the three towers of the Park Grove Residences in Coconut Grove

    Renderings of the location of the three towers of the Park Grove Residences in Coconut Grove

    Interiors are flowing effortlessly into the exteriors at Park Grove in Coconut Grove. The ocean views are superb!

    Interiors are flowing effortlessly into the exteriors at Park Grove in Coconut Grove. The ocean views are superb!

    Click here for more Park Grove Views

    The Investment Values of Park Grove Condo in Coconut Grove

     

    Why is Park Grove such a great investment? We will explain that right here. First of all let me sum up all the great features that Park Grove has to offer before I go further into the numbers

    Park Grove Selling Points

    • The very limited supply of luxury Coconut Grove condos
      • So far we only have Grovenor House (More dated and less Quality Amenities – and we are not only referring to the fact that Park grove is located in a waterfront PARK). Grove at Grand Bay is another pre-construction Condo in Coconut Grove which can be compared in Luxury and finishes. However this condo is selling at a higher price point than Park Grove
    • Park Grove Condo in Coconut Grove has over 5.2 acres of waterfront parcel with over 50,000 sq ft of amenities and  will have a major collection of Art that will be displayed throughout the property and will be part of the Condo Tower
    • The developer of Park Grove provides the option of a lease back which is negotiable within your contract of sales. So if the developer accepts the offer it might lease the unit for a certain amount of years
    • Park Grove is designed by a world-class team of leading architects, designers, and developers (Mentioned earlier)
    • Tower 1 and 2 have 12ft Ceilings and tower 3 has 10 Ft Ceilings .
    • Tower 1 and 2 have  20 Ft wide balconies and private elevators and selective penthouses feature private pools

    For more of the residence information please visit our Independent Review of Park Grove Condo

     

    Park Grove Selling Points in Numbers – The Investment Values

     

    The Rental Numbers

    So let us run the numbers here for those looking for more reasons to invest than just swanky, high end condo living

    Like I said before, the only comparable Condo at this moment is Grovenor house (2006) and to a lesser extent The Ritz Carlton in Coconut Grove (2001) (Purely based on the luxury associated with the Ritz brand)

    At the moment Grovenor house has only two units for rent. A 2 bedroom ($6,800/month) and a furnished 3 Bedroom ($12,000 per month). Like I said before, the Grove has limited inventory (For example at this moment the entire Grove has only three 3-bedrooms units available) and unlike Brickell, Coconut Grove’s residents tend to be more stable and stay in the same property for a longer period of time.

    Here below the Rental Prices for Grovenor House Units are given which are rented in the last year

    In the last year these units Rented in Grovenor House 

    Units rented in Grovenor House in the last year - Data taken from MLS

    Units rented in Grovenor House in the last year – Data taken from MLS

    As can be seen, Grovenor House, the only comparable condo to Park Grove didn’t rent out 1 or 4 bedrooms. In the last year only about 11 units rented out (2 and 3 bedrooms). For 1 Bedrooms, the best possible comparison would be the Ritz Carlton residences which rented out for between $2,700 – $3,000 per Month (for approx 1,000 Sq.Ft)

    The 1 Bedrooms at Park Grove will offer a great investment value. As you can see luxurious 1 bedroom units in modern buildings are very scarce in Coconut Grove.  Park Grove 1 Bedroom units start at $550,000 in tower 3. The units could be rented for $3,000  or more as Park Grove compared to Ritz Carlton is newer, and provides better amenities. That is a rental price of $3,000 – $4,000 per month for a $550,000 investment!

    A Calculation for a 2 bedroom unit

    We ran these numbers for a client the other day who was looking for a 2 bedroom unit:

    Park Grove

    Costs of Park Grove:  $768,000 for a 2 bedroom on Lower Floor

    • Income (based on condos in area) $6,000 *12 = $72,000
    • Total costs: $42,832
      • Closing costs (Normally 1.5% ): $11,520
      • Yearly taxes: $10,000
      • Maintenance Fee: 1276 *12= 15312
      • Realtor Fee when renting: $6000
    • Total profit in first year: $29,168
    • Total profit in second year: $40,688 (No closing costs)

     ASK US FOR OTHER EXAMPLES OR FOR A PERSONALIZED APPROACH

    Resale Values

    Here below we show you the resale values of Grovenor house to see what a Luxury Condo (yet inferior to Park Grove Condo) is selling for.  Prices at Park Grove start at $604 per Sq.Ft but are increasing soon due to the high demand!

    Units sold at Grovenor House in the last year - Data taken from MLS

    Units sold at Grovenor House in the last year – Data taken from MLS

      Why buying a Miami preconstruction condo on your own might be a bad idea

    Location of the Park Grove Condo Project

    2701 Bayshore Drive, Coconut Grove, Fl 33133

     

    dsg

    David Siddons

    305 508 0899 – siddons.d@ewm.com

     

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