Land In Coconut Grove….The Time Is Now
Categories: Coconut Grove, Listings, Real Estate News
hiAside from the $1,000,000+ single family home market, vacant land has also taken quite a hit in the current real estate market. Due to stricter financing requirements, developers aren’t snapping up lots as fast as they once were. For the most part, the only people who are buying vacant land in Coconut Grove right now are buyers who are building custom homes. And from what I’ve heard, builders are lining up to do the work.
In South Coconut Grove, I just listed an 11,600 square foot lot priced at $550,000 ($47.00 psf). It sits on Ventura Avenue between Braganza Avenue and La Playa Boulevard. The lot size is 11,600 square feet. The beauty of this lot is that it sits in the center of a great street surrounded by million dollar homes and has already been cleared and is ready to build. See photos below.
So far this year in the South Grove there have been 3 land sales. The first was a 10,000 square foot lot on 3855 Poinciana Avenue with a list price of $495,000 and a sale price of $450,000 (sold for $45.00 per square foot). The second was a 15,000 square foot lot on 4060 Battersea Road with a list price of $749,000 and a sale price of $550,000 (sold for $36.00 per square foot). The third was an 11,287 square foot lot on 3777 Irvington Avenue with a list price of $425,000 and sale price of $412,000 (sold for $36.50 per square foot).
If you are interested in finding out more about this property, feel free to give me a call at 305.342.1623 or you can also contact me here.
