Ugo Colombo’s 32 story highrise luxury condo in Coconut Grove continues to attract buyers… three years post-opening…. and three years after selling out $5 million in condos within literally the first 45 minutes! 
Grovenor House, built in 2006, is Colombo’s sole waterfront condo in Coconut Grove… his other high end highrises primarily concentrated along Brickell Avenue and on Miami Beach.
List prices today in the MLS for Grovenor House condos run $669,000 – $16,900,000 ($419-$1,855 / square foot).
That puts the average list price at $2,506,875 for 2,761 square feet of air space overlooking Coconut Grove’s Biscayne Bay…. in other words $739 per square foot – asking price.
Despite the Miami condo glut, and recent foreclosures hitting the high-end real estate market hard, Grovenor House and other waterfront luxury property is holding it’s value. The overall lack of buildable waterfront property adds a premium to existing ‘waterfront’… in Miami as elsewhere.
