The Related Group and Terra have completed One Park Grove, the third and final phase of their five-acre project in Miami’s popular Coconut Grove neighborhood.
Rising 23 stories at 2701 South Bayshore Drive with a view of Biscayne Bay, the condo has 66 units. More than 90% of them have closed, and those that remain are priced starting at $2.7 million. Units are sized from 3,732 to 7,514 square feet.
One Park Grove was designed by OMA and Rem Koolhaas. The interior design was by Meyers Davis Studio and the landscaping was by Enzo Enea.
“OMA and Rem Koolhaas had such a powerful vision for this project, and we are thrilled by the response from our owners from across the U.S. and around the world,” Terra CEO David Martin said.
Amenities for residents include a pool deck, a wine tasting room with private bottle storage, a fitness center, a spa with a sauna and steam room, a yoga studio, a children’s playroom, a lounge, a business center, a theater room, an outdoor bar, and a restaurant.
The Related Group and Terra already repaid the $112 million mortgage on the project.
The other two buildings in the project are Two Park Grove and Club Residences with another 271 units combined. Many of the outdoor amenities are shared by all three buildings, including a two-acre private park and an amphitheater.
“Park Grove’s launch in 2016 ushered in a new era for Coconut Grove, serving as bold and refreshing addition to the historic neighborhood – now, the completion of One Park Grove and swift loan payoff affirms the project as second to none,” said Jorge M. Perez, CEO of the Related Group. “The design, architecture, art and lifestyle experiences are just some of the factors driving the project’s sales success, which remains robust despite the current headwind.”
Click here to view a SFBJ gallery slideshow of the completed One Park Grove project.
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