# Arbor Coconut Grove condos: resale prices and rental rules

> Source: https://bluebaybrokers.com/buildings/arbor-coconut-grove
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-11-05
> Plain-text copy of the page above for AI assistants and readers. Quote with attribution to BlueBay Brokers; each figure carries its own source and read date. Nothing here certifies that a short-term rental is legal at any address.

## The bet

Arbor Coconut Grove is a finished five-storey, 45-residence building on Oak Avenue, and the number that decides it is $1,188 a foot: the ask on its cheapest measured developer unit, against $1,097 for Grove condos in the same price band and $1,536 for those built since 2015. You buy new construction close to the price of older stock, with the construction risk already gone.

## Absorption and timing

How many homes close each year in this building's price band and postcode, against how many it is about to deliver. No brochure answers this, and it governs both the resale and the developer's willingness to discount.

Units delivering 45 all at once, to the same buyer pool

Closings per year 245 trailing 12 months, 33133, same band

Years of supply 0.2 this building alone

Band closes at $947/sf median of real closings, not asks

| Band, 33133 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $1.5M – $2.5M | 129 | $1,850,000 | $947 |
| $2.5M – $4M | 116 | $2,992,500 | $1,053 |

**Few left, in a market that absorbs them**

Six developer residences show on the MLS out of 45: four active, two pending. The percentage sold is not published. 33133 closed 245 homes between $1.5M and $4M in the last twelve months, so the whole building is 0.2 years of that flow, though only 74 of those closings were condominiums. The postcode holds 5.9 months of supply, which leans towards sellers. Scarcity works for the owner: a five-storey building on Oak Avenue is not something the Grove's towers can copy. The four active units have been listed 176 to 289 days, and that is the buyer's opening.

## The market it lands in

Everything for sale in 33133 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 288 homes listed across 33133

Sold, trailing year 588 recorded closings, every price

Months of supply 5.9 under 6 favours sellers, over 12 favours buyers

Asking vs sold $1,118/sf asked, against $898/sf actually paid

How to read the gap

Asking is an opinion, sold is a fact, and months of supply is your leverage. Do not compare this building to the postcode median, which mixes in stock built decades ago: the comparison that counts is the band below.

## What recent deliveries resell for

The only read-across that means anything here: condominiums in 33133 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at $1,860/sf median of 31 closings this year

Movement since +15.5% across recently delivered buildings

This building asks $1,188/sf entry residences

Entry vs new stock -36% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2024 | 10 | $1,611 |
| 2025 | 22 | $1,530 |
| 2026 | 31 | $1,860 |

Why a year can show no figure

Under 5 transactions a median is noise, so it is withheld. Recently delivered buildings are thin by nature, which is itself worth knowing before counting on a quick resale.

## The basis

What it asks per foot against what its band actually closes at. Comparing one preconstruction ask to another tells you nothing: both are price lists.

Asking

$1,188–$1,349/sf

Developer asks $1.87M to $3.77M on the MLS today · 1,466 – 3,185 sf · townhouse 2 closed at $1.725M in June 2026

Band closes at $947/sf $1.5M – $2.5M, trailing 12 months

Listed here today 4 median $1,339/sf

**Priced between old stock and the towers**

Developer asks run from $1,188 a foot (residence 408, 1,575 sf, $1,870,391) to $1,349 (lower penthouse LPH4, $2,523,098). The band table reads $947 because it counts houses and townhomes. Condominiums alone closed at a median $1,097 on 43 sales, and those built since 2015, led by Mr. C and Park Grove, at $1,536 on 17. The building's own first MLS sale, townhouse 2, closed at $1,725,000 on 26 June 2026: $1,268 a foot, 4 percent under its $1,799,000 ask. Residence 504, four bedrooms, asks $3,767,400 with no area on the MLS. All per-foot figures use MLS area; the County roll has not been read for this building.

## On the MLS today

4 listings at this address are Active right now, pulled 2026-11-05. Leases are excluded: a monthly rent sitting in the price column wrecks any comparison. This is what a buyer can actually transact on today, as opposed to what a price list says.

| Unit | Bd/Ba | Interior | Asking | $/sf | HOA / mo | Days |
|---|---|---|---|---|---|---|
| [408](https://bluebaybrokers.com/listing?mls=A11944191) | 3/2 | 1,575 sf | $1,870,391 | $1,188 | $2,362 | 289 |
| [LPH3](https://bluebaybrokers.com/listing?mls=A12009141) | 2/2 | 1,475 sf | $1,974,656 | $1,339 | $1,690 | 176 |
| [LPH4](https://bluebaybrokers.com/listing?mls=A11945077) | 3/3 | 1,870 sf | $2,523,098 | $1,349 | $1,690 | 288 |
| [504](https://bluebaybrokers.com/listing?mls=A11997623) | 4/4 | — | $3,767,400 | — | $3,676 | 203 |

How to read this table

On new construction the MLS area is routinely the total rather than the interior, and it runs larger than the County's recorded figure, by 10 to 30 percent on the units already tested in this pipeline. Treat the $/sf column as the seller's own arithmetic and re-divide by the recorded area before comparing it with anything delivered.

## Photographs

The 24 photographs carried on MLS listing A12009141 at this address. On a building still under construction these are the developer's renders and the sales-gallery material, not the finished product.

**Photographs** © SEFMLS, displayed from the MLS under the same licence that permits display of the listing itself. Renders are the developer's own and are subject to change.

## Carry at delivery

What it costs to own before any income, on the smallest residence of 1,575 sf.

| HOA at $1.04/sf/month | −$19,656 |
|---|---|
| Property tax at 2.02% of $1,870,391 | −$37,782 |
| Insurance (HO-6), $3.60/sf | −$5,670 |
| Annual carry, before any income | −$63,108 |

**What the leases say, and what to read**

Delivered, so no deposit to carry. Four leases closed between July and October 2026 at $9,000 to $11,500 a month, unfurnished. Residence 208, the same size as 408, leased at $11,500: $138,000 a year, 7.4 percent gross on the $1,870,391 ask. After 408's $2,362 monthly association fee and taxes at 2.02 percent that is $71,874, or 3.8 percent, before insurance, vacancy and upkeep. Four leases are a first lease-up, not a rent roll. The same plan shows $1,472 a month on residence 508 and $2,362 on 408, so get the budget. Given the 2022 foreclosure suit, also ask for the warranty terms and the reserve study.

## How it was built and sold

| Construction financing | Delivered, so construction debt is behind it. Trez Forman Capital lent $20.7M in 2019 (The Real Deal); Trez sued to foreclose in August 2022 and Arbor Grove Development took the deed in lieu (Bisnow). |
|---|---|
| Presold | Not disclosed |
| Delivery | Delivered. Bridge YearBuilt reads 2025 on most rows and 2026 on some, listings moved from under construction to move-in ready during 2026, and the first MLS closing was 26 June 2026. The original target was fall 2018. |
| Developer | Arbor Grove Development LLC, managed by Isaac Kodsi and Steven Amster, finished it. Urban Atlantic Group and Oak Ventures started it in 2017. Design by Behar Font & Partners, sales by Cervera. |
| Rental policy | Rental policy not published; recorded declaration language to be read |

## Recommendation

BlueBay Brokers · Arbor Coconut Grove

### Own the low stack, and negotiate from the days on market

A finished low-rise in the Grove with the construction risk gone, real leases already signed and asks far closer to older stock than to the towers. At $1,188 a foot, residence 408 sits under the $1,268 the building's first sale closed at.

Start with 408, listed since January. Get the association budget and the recorded rental language, then underwrite on the four real leases rather than on any market average.

## Want the rest of it?

I am Steve Gabison, a Florida broker, licence BK3411036. I wrote this page. New developments are Carolina Peña's desk at BlueBay Brokers, broker, licence BK3288753: she will send you what is behind it, in English or Spanish.

#### The full file

This page is the public read. The file adds the full closing record unit by unit, what resellers are asking against what they paid, the recorded rental language, and a rental underwriting on the specific line you are looking at. No charge.

#### On the purchase

You are buying a resale here, so the seller's side pays the co-broke and representation costs you nothing. I argue from the recorded closing prices above, including what the current owner actually paid and when.

#### Before anything else

The rental policy here is not published, so I will not sell you a management plan on it. I will get the recorded declaration language and tell you what is actually permitted. That has to be true before the rest matters.

## Read next

- [The Lincoln Coconut Grove, Coconut Grove, Delivering 2028](https://bluebaybrokers.com/buildings/lincoln-coconut-grove)
- [The Well Coconut Grove, Coconut Grove, Q4 2028](https://bluebaybrokers.com/buildings/well-coconut-grove)
- [Vita at Grove Isle, Coconut Grove, Delivered 2025](https://bluebaybrokers.com/buildings/vita-grove-isle)
- [All the new-development studies](https://bluebaybrokers.com/new-developments)
- [Developer price vs resale on six delivered Miami condos](https://bluebaybrokers.com/developer-price-vs-resale-miami)
- [Buying preconstruction in Miami as a foreign buyer](https://bluebaybrokers.com/buy-preconstruction-miami-foreign-buyer)

## Sources

- [The Real Deal, Arbor Coconut Grove nabs construction loan (March 2019)](https://therealdeal.com/miami/2019/03/22/arbor-coconut-grove-nabs-construction-loan)
- [Multi-Housing News, Miami condo project gets $21M construction loan (2019)](https://www.multihousingnews.com/miami-condo-project-gets-21m-construction-loan/)
- [Bisnow, Unfinished Coconut Grove condo project transferred to lender to avoid foreclosure (reposted)](https://grovearbor.squarespace.com/in-the-news/unfinished-coconut-grove-condo-project-transferred-to-lender-to-avoid-foreclosure)
- [Cervera, Arbor Coconut Grove project page](https://cervera.com/condo/arbor/)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-11-05. Deemed reliable, not guaranteed.

**Developer data.** Unit counts, sizes, pricing and delivery dates are the developer's own and are not verified by BlueBay Brokers LLC, which does not represent the developers named here and receives no compensation from them.

**Not investment advice.** A scenario built from stated assumptions. Deposit carry uses simple interest and ignores tax. The recorded condominium documents govern every legal question raised here. Consult your own tax and legal advisers.

**Rental policy** as published by the developer and routinely amended before closing.