Coconut Grove Penthouses [Luxury Penthouse Condos]

Coconut Grove penthouses can demand a premium in newer developments exceeding $20 million. However, the rewards can be significant for luxury property investors. Many Coconut Grove penthouses offer a high return on investment plus the opportunity to enjoy a truly exclusive lifestyle from the top. Currently, several trophy penthouses in Coconut Grove are available for sale, ranging in asking price from $3 to $20 million.

In 2023, The Park GroveMore Info Upper Penthouse A on South Bayshore Drive set the Coconut Grove Penthouse record for any condominium resale at $17.5 million. Penthouse A had five bedrooms, seven bathrooms, and over 5,800 square feet of living space with an outdoor kitchen and a rooftop pool. It sold for over $3,000 per square foot. Purchasing a penthouse in Coconut Grove is a smart investment in real estate and a lifestyle choice for those who desire the ultimate luxury living experience in Miami.

The starting price of a penthouse in Coconut Grove, as of 2024, is approximately $550,000 and up to live at the top. At this lower price point, the living area will span approximately 910 square feet under air.

Owning a penthouse in Coconut Grove provides a luxurious and exclusive lifestyle with breathtaking bay and city views. Buyers prefer the utmost privacy and top-notch security. Select Coconut Grove penthouses feature high-end finishes and amenities, such as private elevators, expansive terraces with breathtaking water views, gourmet outdoor kitchens, and rooftop pools to entertain. The prime South Florida location offers easy access to vibrant culture, dining, and shopping within 20 minutes of Miami's beautiful beaches. Coconut Grove penthouses are the epitome of luxury living. A Coconut Grove penthouse is sure to impress if you are looking for a permanent residence, a vacation home, or an investment property. They are perfect for a high-end property with breathtaking Miami views, amenities, and an exclusive location offering privacy. Additionally, it can be a lucrative investment with high rental demand and potential for appreciation.

Property taxes for residential real estate in Coconut Grove vary depending on the property's assessed value and the specific tax rates set by the local authorities. The property tax rate in Miami-Dade County, where Coconut Grove is located, was approximately 2.0% of the property's assessed value. It's essential to verify the current tax rates with the Miami tax assessor's office, which offers a convenient tax estimator online.

Property maintenance fees for penthouse condos in Coconut Grove can vary widely depending on the property size, the total number of condo units, and the amenities the building or community offers. These fees typically cover the insurance costs, maintaining common areas, amenities, security, landscaping, water, cable, internet, and other shared expenses. On average, condo maintenance fees can range from $0.90 to $2.00 per square foot, so it's essential to inquire about specific fees for each property of interest.

Miami offers several prime areas with some of the best penthouses in the city. Coconut Grove offers new condo developments including Grove Isle, Park Grove, Mr C ResidencesMore Info, Vita at Grove IsleMore Info and Grove at Grand Bay. South Beach, known for its vibrant nightlife and Art Deco charm, offers luxurious penthouses with stunning ocean and bayfront views. Mid-Beach, nestled between South Beach and North Beach, provides a more serene atmosphere and penthouse properties with oceanfront and bay views. Bal Harbour, a prestigious enclave, features exclusive penthouses like Rivage, boasting breathtaking ocean and city vistas. Sunny Isles Beach has been a huge draw this last year with exceptional oceanfront penthouses in new designer towers such as St Regis, Armani, and Bentley. Downtown Miami's bustling urban core offers high-rise penthouses with impressive city skyline and Biscayne Bay views like Aston Martin. Brickell's financial district showcases modern penthouses in super tall buildings with captivating city and bay views, such as Flatiron, Cipriani, St Regis, and 1428 Brickell.

The Coconut Grove Advantage

Coconut GroveMore Info is a premier neighborhood in Miami for many reasons. Coconut Grove is an upscale neighborhood in Miami known for its luxurious and high-end real estate offerings. It is an attractive destination for affluent individuals who value exclusivity within an artistic location full of natural Florida beauty. Coconut Grove is renowned for its lush greenery, scenic views, and vibrant cultural scene, all of which can be enjoyed from the comfort of a penthouse with sweeping panoramas. One of the main attractions is its beautiful natural setting. The neighborhood is surrounded by lush, tropical vegetation and is located on the shores of Biscayne Bay, providing residents with stunning water views. In addition to its natural beauty, Coconut Grove is known for its vibrant arts and culture scene. The neighborhood is home to many galleries, theaters, and music venues and hosts a number of popular events and festivals throughout the year.

Luxury Homes by Area in MiamiMore Info

When considering luxury homes in Miami, various neighborhoods cater to distinct preferences. For a bustling urban lifestyle, BrickellMore Info and Downtown MiamiMore Info showcase upscale properties, including high-rise luxury condos with stunning vistas. Those seeking tranquility and beachfront living will find exclusive options in Miami BeachMore Info and Fisher IslandMore Info, offering waterfront properties and resort-style amenities. Bal HarbourMore Info and Sunny Isles BeachMore Info boast lavish oceanfront condos near upscale shopping centers. For a more suburban ambiance, Coconut GroveMore Info and Coral GablesMore Info present elegant single-family luxury homes amidst lush greenery and serene streets. Tailoring the search to specific areas ensures finding the perfect luxury home in Miami.

Luxury Condos by Area in MiamiMore Info

For those seeking luxury condos in Miami, various neighborhoods cater to diverse preferences. Downtown MiamiMore Info and BrickellMore Info offer a vibrant urban experience, with high-rise luxury condos featuring breathtaking views, ideal for those who love city living. Miami BeachMore Info and Fisher IslandMore Info provide exclusive beachfront properties and resort-style living, perfect for those desiring a serene coastal lifestyle. Sunny Isles BeachMore Info and Bal HarbourMore Info showcase opulent oceanfront condos, close to upscale shopping destinations. Coconut GroveMore Info and Coral GablesMore Info provide a more tranquil suburban atmosphere, offering elegant condos surrounded by green spaces. By exploring different areas, one can discover the ideal luxury condo that aligns perfectly with their desires in Miami.

Miami Penthouses by Area