# The Lincoln Coconut Grove: prices and deposits

> Source: https://bluebaybrokers.com/buildings/lincoln-coconut-grove
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-10-15
> 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

The Lincoln is a 48-residence boutique building in Coconut Grove asking $1,193 to $1,481 a foot, against $1,860 for Grove condominiums delivered since 2023 and resold this year. That benchmark flatters it, since those resales are mostly bayfront Mr. C and Vita at Grove Isle, but even discounted for the water the basis holds: the $58M construction loan closed in September 2026 and more than 40 percent is sold.

## 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 48 all at once, to the same buyer pool

Closings per year 273 trailing 12 months, 33133, same band

Years of supply 0.2 this building alone

Band closes at $883/sf median of real closings, not asks

| Band, 33133 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $1.2M – $2M | 134 | $1,601,000 | $883 |
| $2M – $3.5M | 139 | $2,700,000 | $1,027 |

**Two months of supply**

33133 closed 273 homes in The Lincoln's two price bands over the last twelve months, so 48 residences are about two months of that market. The postcode carries 6.2 months of inventory, close to a seller's market. Absorption is not the risk here. The price list has barely moved since the January 2025 launch from $1.5M: the entry one-bedroom lists at $1,520,000 today, so a buyer signing now still gets close to launch pricing, with more than 40 percent of the building already sold.

## 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 296 homes listed across 33133

Sold, trailing year 575 recorded closings, every price

Months of supply 6.2 under 6 favours sellers, over 12 favours buyers

Asking vs sold $1,113/sf asked, against $887/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 27 closings this year

Movement since +15.5% across recently delivered buildings

This building asks $1,239/sf entry residences

Entry vs new stock -33% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2024 | 10 | $1,611 |
| 2025 | 22 | $1,530 |
| 2026 | 27 | $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

$1,193–$1,239/sf

$1.52M – $3.12M listed · 1,227 – 2,611 sf · launched from $1.5M in January 2025 · penthouses up to 3,633 sf

Band closes at $883/sf $1.2M – $2M, trailing 12 months

Listed here today 4 median $1,350/sf

**New construction under the bayfront benchmark**

The bands The Lincoln sells into close at $883 a foot under $2M and $1,027 above it, but that is mostly older Grove condos, townhouses and houses. The fair benchmark is new construction: 27 resales this year in 33133 condominiums built since 2023, median $1,860, nearly all at Mr. C Residences and Vita at Grove Isle on the bay. The Lincoln is inland and eight storeys, and asks 20 to 35 percent less. The best foot on the list is unit 205, four bedrooms, 2,611 sf at $1,193. The MLS areas may be totals rather than interiors: re-divide by the plan sheet before comparing.

## On the MLS today

4 listings at this address are Active right now, pulled 2026-10-15. 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 |
|---|---|---|---|---|---|---|
| [203](https://bluebaybrokers.com/listing?mls=A11988392) | 1/2 | 1,227 sf | $1,520,000 | $1,239 | $2,024 | 180 |
| [406](https://bluebaybrokers.com/listing?mls=A11988423) | 2/8 | 1,591 sf | $2,356,000 | $1,481 | $2,625 | 180 |
| [407](https://bluebaybrokers.com/listing?mls=A11988432) | 3/4 | 2,026 sf | $2,962,000 | $1,462 | $3,342 | 180 |
| [205](https://bluebaybrokers.com/listing?mls=A11988442) | 4/10 | 2,611 sf | $3,115,000 | $1,193 | $4,308 | 180 |

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 A11988423 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.

## What the deposit costs to hold

A preconstruction deposit is committed years before you hold a deed, earning nothing. That carry is a real cost of the trade and it is never in the pitch. Modelled on $1,520,000 at 4.5% simple, 23 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (10% + 10% at groundbreaking, already passed; assumed standard) | 20% | $304,000 | $304,000 | 23 mo | −$26,220 |
| At top-off (assumed standard) | 10% | $152,000 | $456,000 | 11 mo | −$6,270 |
| At closing | 70% | $1,064,000 | $1,520,000 | 0 mo | −$0 |
| Committed before closing |  |  | $1,520,000 |  | −$32,490 |

Why this line matters more than the yield

Nothing is rented and nothing is owned meanwhile, so the whole return has to come from the gap between contract price and the market at delivery. That carry, about $32,490, is the hurdle before you break even, and deposits are generally non-refundable, so a delivery that slips extends it without your consent.

## Carry at delivery

What it costs to own before any income, on the smallest residence of 1,227 sf.

| HOA at $1.65/sf/month | −$24,295 |
|---|---|
| Property tax at 2.02% of $1,520,000 | −$30,704 |
| Insurance (HO-6), $3.60/sf | −$4,417 |
| Annual carry, before any income | −$59,416 |

**What to secure before you sign**

The deposit schedule is not published, so the carry above assumes the Miami standard 10/10/10/70; groundbreaking was June 2026, so 20 percent falls due on signing. Ask for the actual schedule. The rental policy is not published either, and the recorded declaration will decide it; until then, underwrite a 12-month lease or a residence, not nightly income. Association dues read $1.65 a foot a month on the listings, $2,024 on the entry unit.

## Delivery risk

| Construction financing | $58M senior construction loan from SME Capital, closed September 2026 and arranged by Berkadia: 30 months with two six-month extensions. The site was bought with equity, no acquisition debt. |
|---|---|
| Presold | 40% at last disclosure |
| Delivery | Third quarter of 2028, per the September 2026 financing release. Construction began in June 2026; the MLS listings carry 2027, which the loan term makes optimistic. |
| Developer | LORE Development Group (a 2023 joint venture of Leste Group and Brazil's Opportunity fund) with Element Development. Paredes Architects, Winmar Construction as general contractor, ONE Sotheby's International Realty on sales. |
| Rental policy | Rental policy not published; recorded declaration language to be read |

## Recommendation

BlueBay Brokers · The Lincoln Coconut Grove

### Funded, small, and priced under the bayfront

A funded building in a tight market. $58M from SME Capital closed in September 2026, construction began in June, more than 40 percent is sold, and 48 residences are two months of what its bands close in a year.

Buy the four-bedroom at $1,193 a foot for value or the entry one-bedroom at $1,239 for the easiest resale. You pay new-construction prices for a Grove address at a discount to the bayfront; get the deposit schedule and the rental language in writing before signing.

## 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 unit-level price list and what is actually left, the developer's land basis and what it says about room on price, the recorded rental language, and a rental underwriting on the specific line you are looking at. No charge.

#### On the purchase

Developers in this pipeline pay a cooperating broker, so having me represent you costs nothing on top of the price. I negotiate the deposit schedule, the credits and the co-broke, with the recorded comps to argue from.

#### 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

- [Cipriani Residences Miami, Brickell, 2027](https://bluebaybrokers.com/buildings/cipriani-residences)
- [2200 Brickell, Brickell, 2026](https://bluebaybrokers.com/buildings/2200-brickell)
- [3000 Waterside, Fort Lauderdale, Delivering 2028](https://bluebaybrokers.com/buildings/3000-waterside-fll)
- [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)
- [What a preconstruction deposit costs to hold](https://bluebaybrokers.com/preconstruction-deposit-carry-miami)
- [Buying preconstruction in Miami as a foreign buyer](https://bluebaybrokers.com/buy-preconstruction-miami-foreign-buyer)

## Sources

- [Florida YIMBY, Developers secure $58 million construction loan for The Lincoln (Sep 2026)](https://floridayimby.com/?p=41957)
- [Berkadia, The Lincoln Coconut Grove financing (Sep 2026)](https://www.berkadia.com/news/the-lincoln-coconut-grove-fl-financed-by-berkadia-2026/)
- [Florida YIMBY, Construction starts on The Lincoln Coconut Grove (Jun 2026)](https://floridayimby.com/2026/06/construction-starts-on-the-lincoln-coconut-grove-at-3151-sw-27th-ave-miami-fl.html)
- [South Florida Agent Magazine, Sales begin at 48-condo luxury midrise (Feb 2025)](https://southfloridaagentmagazine.com/2025/02/11/lincoln-coconut-grove-sales/)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-10-15. 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.