The ultra-luxury market in Coconut Grove is certainly picking up speed. As you know, Crystal View Court in the North Grove just sold for $9,000,000 (listed by Judy Zeder of EWM) and yesterday the home located at 3301 South Moorings Way in the gated community of The Moorings went under contract with a list price of $14,900,000 (Broker was Avatar). The home featured 11,257 square feet of living space on a 27,516 square foot lot with 6 bedrooms and 6 baths. Bayfront homes have been selling on average for $750 per foot however this is in a gated community so it will be interesting to see where this one ends up.
Also on the luxury home topic, the listing on Stewart Avenue that was previously priced at $18,000,000 has now been dropped to $16,900,000. The home features 10,025 square feet of living space on a 42,689 square foot lot with unobstructed ocean bay views. The Broker is Avatar. To view other ultra-luxury homes for sale in Coconut Grove (33133) click here.
To me the above activity indicates that the Grove continues to be a highly desirable location and a place where buyers will pay a premium to live. If you would like to buy or sell real estate and are looking for an experienced Realtor in Coconut Grove, please don't hesitate to contact me at 305.342.1623 or send me a note here.
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