Taxable property values grew 12.3% in Miami-Dade as 2023 began, according to a county report just released by the Miami-Dade Property Appraiser’s Office, marking the second straight year of double-digit growth in Florida’s largest housing market.
A lender is foreclosing on the Coconut Grove properties of developer Doug Cox demanding to take control of two dozen ready-to-move-in houses and prime vacant lots because of his failure to repay a $43 million debt. But the buyers just got a lifeline when Miami-Dade Circuit Court judge appointed a receiver to oversee a tangled web of lawsuits, purchase contracts and fraud accusations centered on Cox.
Brokers closed 199 Miami-Dade condo sales last week, up from 181 the week prior. Total dollar volume reached $120 million, versus $122 million the week earlier. Grove at Grand Bay condo in Miami snagged the top spot at $5 million.
The pandemic accelerated the Grove’s popularity, attracting transplants from New York, Chicago and California due to its proximity to all things great about Miami — including well-regarded private schools, a relatively quick drive to downtown, sophisticated dining, bayside parks and the revitalized Dinner Key pleasure boat marina.
While there are concerns about a downturn in the economy amid interest rate hikes and a slowdown in sales of existing condos in South Florida, strong demand remains for new luxury condos as wealthy people continue moving to Miami.
Homebuyers In Coconut Grove just got some reassuring news from Miami Mayor Francis Suarez, who said city officials would help them break an impasse with a Miami developer who has locked them out of their houses for years. CLICK ON THE HEADLINE FOR MORE
The gym inked a 38,400-square-foot lease at Grove Central, a mixed-use, transit-oriented development now under construction in Miami’s Coconut Grove neighborhood. The two-floor location is scheduled to open in 2024, CLICK ON THE HEADLINE FOR MORE
Instead of “For Sale” signs, house hunters see “No Trespassing” notices posted along the street and “Do Not Enter” decals stuck to the front doors, a curious contrast in Coconut Grove, one of the most hotly desired neighborhoods in the country. CLICK ON THE HEADLINE FOR MORE
The five-story project, called the Residences in the Grove, will feature 148 units as well as 22,000 square feet of wellness-focused retail space on the ground floor. Construction is expected to be completed in 2025. CLICK ON THE HEADLINE FOR MORE
The top ten weekly condo sales in Miami-Dade County ranged from $1.2M to $7.6M. Two $7.6 million closings at Grove at Grand Bay and One Thousand Museum tied and topped the weekly sales list. CLICK ON THE HEADLINE FOR MORE
