Beth Kipnis

North Coconut Grove Category

Two Sales at Grove Isle In January 2010

So far this year there have been two sales at Grove Isle Condo, the private island community in the North Grove.

 Unit 306 closed on January 19 for $400,000, the listing price, after 172 days on the market. This equals $243 per square foot. Closing on January 26 for $640,000 ($340 ppsf) was unit 1507. The asking price for this apartment was $709,000, and it was on the market for only 14 days before it had a contract. Both are in the “C” building and both have two bedroom and two bathrooms.

The $100 per square foot difference in sale prices can be explained by the incredible views from 1507 across Biscayne Bay toward downtown Miami, Miami Beach and Key Biscayne, and its many custom upgrades.

There are 6 units under contract as of February 25, including Penthouse 10 in Building One that is a stunning 3 bedroom apartment asking $618 per square foot.

For sale now are 27 apartments for sale at Grove Isle, ranging from $369,000 for a 2 bedroom unit on the second floor in  Building C to a double unit totaling 5,012 square feet on the 16th floor in the same building.

If you are interested in seeing any of the places available in Grove Isle, or if you would like a private consultation about the value of your home contact me anytime at 305 794-6570.

Recent Sales And History Of Natoma Manors In Coconut Grove

Between September 18 and November 13, 2009 there were 5 sales of homes in Natoma Manors, the north Coconut Grove community between SW 17th Avenue and Bay Heights.  Two of these sales were handled by EWM Realtors representing both the sellers and buyers in transactions that were never even shown as available to the public, perfect examples of Realtors networking among themselves.

When Gwen Taylor in my office asked if I knew of any unlisted property in Natoma Manors that might be available for her buyer, I had heard of something that might work for her. Five days later seller and buyer had come to an agreement, and the property at 1600 Tigertail Avenue closed on October 30, 2009.  Diane Troy successfully sold 2610 Hilola Street on September 18, 2009 in the same manner.

The other three sales at 1672 Micanopy Avenue, 1645 Tigertail Avenue and 2727 Hilola Street also involved fellow EWM Realtors! The sales ranged from a low price per square foot of $265 at 2610 Hilola St, which sold for $487,000 to the highest ppsf of $330 at 1672 Micanopy Avenue, closed for $1,435,000.

The breakdown is as follows:

Natoma Manors was created by W. T. Carter and his brother E .J. in 1925 when they were finally able to convince the Brickell family to sell them the 35 acres of  mostly virgin forest just outside the walled growing fields of Viscaya which became Bay Heights . After the land was cleared the plot was subdivided into 177 lots, mostly 50 feet wide. Roads and sidewalks were built, coconut palms and shrubbery planted, water lines and underground utilities were laid out throught the center of each street. These impressive improvements added more than $1000 the original cost of each lot!

Over half of the lots were sold in 1925 at the then prevailing boom prices, practically all of which were voluntarily deeded back to the company formed by the brothers, Carter Realty Company. In 1938 the area was re-subdivided into 138 larger lots, 70 foot frontages being the minimum.

It is a tribute to E. J. Carter that he held to his vision of Natoma Manors as a homesite for quality homes, and didn’t encumber it with liens or mortgages during the years he held onto it intact, even at considerable personal financial sacrifice.

I have an article from the Miami Daily News dated December 17, 1938 in front of me now. It shows a picture of 1601 Tigertail Avenue, and begins by stating that the home, built for Mr. and Mrs. W. T. Etzel will be completed by Christmas. It was designed by architect Lloyd F. Vann and constructed by Deigaard Preston. “ The cost of construction is approximately $16,000″, the article states.

1601 Tigertail Avenue Today.

To put that into perspective, I sold the home for the second owners in 2003 for $720,000! To the right is a picture of the home today. The new owners updated the kitchen beautifully in 2005, and preserved the character of this unique and original Natoma Manors home.

For more information about any property in Coconut Grove, call Beth at any time at 305 794-6570.

Homes in The Roads and Shenandoah Are A Bargain

Homes listed for sale in Shenandoah, also known as Silver Bluff, and The Roads have a median price per square foot of  $183.00. Those that have closed in the last 3 months went for a median price of $129.00 per square foot. I’m speaking specifically about the area east of SW 27th Avenue between U.S 1 to the south and Coral Way to the north all the way toward downtown Miami including all of The Roads.

Before U.S. 1 morphed into the main artery it has become, there was no real defining line between the north end of Coconut Grove and Shenandoah / The Roads. As a whole, real development began at the same time and in the same style. In the 1930’s developers started laying out neighborhoods, putting in infrastructure, and planting trees and shrubs.

These first developments were built on land once owned by early Miami settlers and were mostly modest 3 and 4 bedroom bungalow homes on good-sized lots of a around one-quarter acre. At the time, U.S. 1 was a 2-lane street paralleling the Florida East Coast Railway, the main conduit for overland shipping.

As more and more people decided to make Miami home,  U.S. 1 was widened and lanes added and there became a clear delineation between the areas. With the extension of I-95 to South Miami Avenue in 1964 the distinction was complete and the neighborhoods stood clearly apart.

But the bones remain. The remaining old trees are now stately and graceful, and they shade the same roads laid out in the 1930’s and later. Many of those original homes remain, most with some, if not total, renovation.

Following are some examples of similar homes in both areas, and the difference in prices for current listings and recent sales.

1600 SW 13th Avenue

I saw the home to the right at 1600 SW 13th Avenue, on the street dividing The Roads and Shenandoah when it was a new listing at $549,000 or $242 per square foot. It has 4 bedrooms and 3 bathrooms in 2268 square feet on a corner lot of 14,000 square feet. Built in 1938, it sold in 38 days for $430,ooo ($189 psf).

 1600 Tigertail Avenue

This home at 1600 Tigertail Avenue in Coconut Grove was built in 1933 and has 4 bedrooms and 3 bathrooms in 2,321 square feet. This one is a corner lot, also, with 11,445 square feet and a large pool. It’s list and sale price was $665,000 or $286 per square foot, and it sold in one day!

On the market in The Roads at 407 SW 22 Rd. now is a 4 bedroom, 3 bathroom home built in 1935 with 2329 square feet. It sits on a lot of 6750 sq. ft. and is asking $$75,000 or $203 psf. It just came on the market a few days ago and I haven’t yet previewed it, but it looks interesting.

At the moment in Coconut Grove, a 4 bedroom, 3 bathroom pool home at 2410 Swanson Avenue is for sale for $699,000, or $317 per square foot. It has 2200 square feet on a lot of 6628 sq ft, and was built in 1925. It has been extensively updated throughout.