Two of Miami’s biggest names in real estate development finished their Coconut Grove venture completing the third tower at their Park Grove community and paying off a $112 million construction loan.
Terra, led by the Martin family, and The Related Group, led by Jorge Perez, finished construction on One Park Grove, a 23-story condominium tower with 66 units.
The 5-acre Park Grove residential community is on the corner of South Bayshore Drive and Southwest 27th Avenue steps from the bay.
There are 271 condo units across the three high-rises with 98% of them sold. At One Park Grove, 80% of contracts closed in the past two months representing more than $245 million in total sales.
Remaining One Park Grove units are available from about $2.7 million.
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