Coconut Grove Central Business District
Coconut Grove is geographically very small, and many properties are owner occupied. As such, sales transactions are infrequent, and generally on the upper range of sales prices in Miami.
2911 Bridgeport Ave
- Recorded Date: 06/13/2023
- Property Type: Office
- Size: 1,819 SF
- Sale Price: $1,600,000
- $/SF: $880
- Notes: This 1-story office building, constructed in 1949 on a 0.17-acre lot, was acquired by an entity associated with Mohamed El Banna for $1,600,000. The seller, linked to International Restaurant Management Group, had previously purchased the property for $1,025,000 in 2019. The buyer also owns an adjacent 0.15-acre vacant lot to the south.
3172-3176 SW 27th Ave
- Recorded Date: 07/20/2023
- Property Type: Multi Family
- Size: 11,295 SF
- Sale Price: $6,500,000
- $/SF: $575
- $/SF Lot: $466
- $/Unit: $500,000
- Notes: This 13-unit apartment complex, consisting of two 3-story buildings built between 1965 and 1972, was purchased by LORE Development Group for $6,500,000. The property was advertised as a potential redevelopment site.
27th Ave and Lincoln Ave – 0.26 Residential Acre
- Recorded Date: 08/18/2023
- Property Type: Land
- Size: 21,000 SF
- Sale Price: $8,556,000
- $/SF Lot : $407
- Notes: LORE Development Group acquired this 0.26-acre residential land for $8,556,000. The property is likely to undergo future development.
3226 Mary St
- Recorded Date: 09/25/2023
- Property Type: Multi Family
- Size: 11,591 SF
- Sale Price: $4,800,000
- $/SF: $414
- $/Unit: $266,667
- Notes: Fares Ghandour purchased this 18-unit gated apartment complex from Catalonia Management Company for $4,800,000, securing a $2,400,000 loan from Interaudi Bank.
2915 SW 27th Ave
- Recorded Date: 09/28/2023
- Property Type: Office
- Size: 3,030 SF
- Sale Price: $3,112,500
- $/SF: $1027
- Notes: Briahnna Skinner acquired this single-story office building from Martin Schleifer for $3,112,500.
Arbor Residences in Coconut Grove – 3034 Oak Ave
- Recorded Date: 11/02/2023
- Property Type: Multi Family
- Size: 35,850 SF
- Sale Price: $20,961,000
- $/SF Lot: $585
- $/Unit: $403,096
- Notes: Steven Amster and Isaac Kodsi obtained this 52-unit partially complete multifamily property through foreclosure, assuming the seller’s debt of $20,960,979.36 from Ark Residential Corp.
2921 SW 27th Ave
- Recorded Date: 11/03/2023
- Property Type: Office
- Size: 2,178 SF
- Sale Price: $2,690,000
- $/SF: $1,235
- Notes: Briahnna Skinner bought this multi-tenant office building from Mark Lefcourt and Mark Kamilar for $2,690,000.
2641 Abaco Ave
- Recorded Date: 03/05/2024
- Property Type: Office
- Size: 1,416 SF
- Sale Price: $2,000,000
- $/SF: $1,412
- Notes: Andres Siso purchased this office building from Jacqueline and Norma Valdespino for $2,000,000, with a seller-carried loan of $1,000,000.
Offices at Grand Bay Plaza – Units 1100 & 1130 – 2665 S Bayshore Dr
- Recorded Date: 03/07/2024
- Property Type: Office
- Size: 1,916 SF
- Sale Price: $1,552,000
- Notes: Avatar Real Estate Services acquired these two office condos from Cindy Goldberg for $1,552,000.
3044 SW 28th Ln
- Recorded Date: 03/29/2024
- Property Type: Office
- Size: 4,535 SF
- Sale Price: $2,600,000
- $/SF: $573
- Notes: Ellen Freidin purchased this office building from Melanie Shapiro for $2,600,000.
2701 Day Ave (0.15 Acres)
- Recorded Date: 04/02/2024
- Property Type: Land
- Size: 6,616 SF
- Sale Price: $2,000,000
- $/SF Lot: $302
- Notes: Pumayna, represented by Andres Siso, acquired this multifamily land from Leandro Paredes for $2,000,000, with new debts totaling $1,855,000.
CocoGrove Apartments – 2967-2969 Bird Ave
- Recorded Date: 04/23/2024
- Property Type: Multi Family
- Size: 18,620 SF
- Sale Price: $8,054,500
- $/SF: $433
- $/Unit: $671,208
- Notes: Patrizio De Brasi purchased this partially complete 12-unit multifamily property from Fuse Group for $8,054,500, with a seller-carried loan of $8,150,000.
Hotel Arya – Unit CU-1 – 2889 McFarlane Rd
- Recorded Date: 06/13/2024
- Property Type: Hospitality
- Size: 12,530 SF
- Sale Price: $4,250,000
- $/SF: $339
- Notes: Miami Vacation Rentals, represented by Juan Felipe Uribe and Florian Hagenbuch, acquired this commercial condo unit from The Kishan Group for $4,250,000, with a seller-carried loan of $2,250,000. They also purchased 19 hotel units within the same property.
Hotel Arya (19 Units) – 2889 McFarlane Rd
- Recorded Date: 06/13/2024
- Property Type: Hospitality
- Size: 14,274 SF
- Sale Price: $11,976,100
- $/SF: $839
- Notes: Miami Vacation Rentals, represented by Juan Felipe Uribe and Florian Hagenbuch, acquired 19 hotel condo units from The Kishan Group for $11,976,100, with a seller-carried loan of $9,476,524. They also purchased the commercial unit CU-1 for $4,250,000.
For more info on any of these sales or to find out how sales and leasing activity affects the value of your property, contact me today.
