# Mr. C Residences Coconut Grove: resale prices, rental rules

> Source: https://bluebaybrokers.com/buildings/mr-c-coconut-grove
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-11-12
> Contact: Carolina Peña, broker, new developments, English or Spanish: WhatsApp or phone +1 786 326 8778, carolina@bluebaybrokers.com. Study written by Steve Gabison, broker.
> 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

Mr. C Residences Coconut Grove is Terra's finished pair of towers on Tigertail Avenue, 230 residences, and the number that decides it is $1,530 a foot: the median of its 17 MLS closings in the last twelve months, against a median ask of $1,795 on the 15 residences listed today. The building trades, and it trades about 8 percent under the last asking price. Buy on the closings, not on the asks.

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

Closings per year 444 trailing 12 months, 33133, same band

Years of supply 0.5 this building alone

Band closes at $853/sf median of real closings, not asks

| Band, 33133 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $900K – $2M | 187 | $1,400,000 | $853 |
| $2M – $4M | 160 | $2,785,500 | $1,052 |
| $4M and above | 97 | $6,250,000 | $1,613 |

**A building that trades, with room to negotiate**

Seventeen residences closed on the MLS in the last twelve months, $39.5M in all, and 15 are for sale: about ten months of supply inside the building, against 5.8 months across 33133. The postcode closed 444 homes above $900,000 in the year, so 230 residences are half a year of that flow, though most of those closings are houses. The median closing came 8.1 percent under the last asking price, and seven of the 15 active listings have been on the market more than 150 days. That is the buyer's opening: a liquid building where sellers have already shown what they accept.

## 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 286 homes listed across 33133

Sold, trailing year 589 recorded closings, every price

Months of supply 5.8 under 6 favours sellers, over 12 favours buyers

Asking vs sold $1,115/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 $1,849/sf median of 32 closings this year

Movement since +14.8% across recently delivered buildings

This building asks $1,611/sf entry residences

Entry vs new stock -13% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2024 | 10 | $1,611 |
| 2025 | 22 | $1,530 |
| 2026 | 32 | $1,849 |

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

$1,611–$2,213/sf

Owners ask $910,000 to $9.295M on the MLS today · 565 – 4,200 sf · 17 closings in twelve months at a median $1,530/sf

Band closes at $853/sf $900K – $2M, trailing 12 months

Listed here today 15 median $1,795/sf

**What it closes at, plan by plan**

The band table reads $853 to $1,613 a foot because it counts the Grove's houses. The comparison that counts is the building itself: $1,530 median on 17 closings, from $1,113 (residence 713) to $1,982 (residence 1501, $3,590,000 in October 2026). Nine closings in 2025 ran a median $1,251 and fourteen in 2026 run $1,552, but the mix moved to larger plans, so read direction, not appreciation. The one-bedroom line shows it cleanly: 315 closed at $780,000 in December 2024, 515 at $900,000 in March 2026, and 315 now asks $910,000. Its listing states 565 sf, its 2024 sale 658: $1,611 a foot on one, $1,383 on the other. Have the County area read before comparing.

## On the MLS today

15 listings at this address are Active right now, pulled 2026-11-12. 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 |
|---|---|---|---|---|---|---|
| [315](https://bluebaybrokers.com/listing?mls=A12016956) | 1/1 | 565 sf | $910,000 | $1,611 | $1,295 | 162 |
| [1009](https://bluebaybrokers.com/listing?mls=A11765517) | 1/1 | 772 sf | $939,000 | $1,216 | $1,289 | 597 |
| [615](https://bluebaybrokers.com/listing?mls=A11788489) | 1/1 | 658 sf | $1,050,000 | $1,596 | $1,472 | 463 |
| [612](https://bluebaybrokers.com/listing?mls=A11952797) | 1/1 | 613 sf | $1,200,000 | $1,958 | $1,367 | 242 |
| [1205](https://bluebaybrokers.com/listing?mls=A11795520) | 2/2 | 982 sf | $1,450,000 | $1,477 | $1,935 | 546 |
| [1705](https://bluebaybrokers.com/listing?mls=A12079385) | 2/2 | 845 sf | $1,495,000 | $1,769 | $1,935 | 47 |
| [1508](https://bluebaybrokers.com/listing?mls=A12072977) | 2/3 | 1,279 sf | $1,960,000 | $1,532 | $2,768 | 64 |
| [302](https://bluebaybrokers.com/listing?mls=A12074189) | 3/3 | 1,646 sf | $2,900,000 | $1,762 | $3,821 | 10 |
| [601](https://bluebaybrokers.com/listing?mls=A12015037) | 3/4 | 1,661 sf | $3,175,000 | $1,911 | $3,809 | 90 |
| [401](https://bluebaybrokers.com/listing?mls=A12075272) | 3/4 | 1,811 sf | $3,250,000 | $1,795 | $3,805 | 42 |
| [502](https://bluebaybrokers.com/listing?mls=A12087001) | 3/3 | 1,761 sf | $3,299,000 | $1,873 | — | 13 |
| [1707](https://bluebaybrokers.com/listing?mls=A11952795) | 3/3 | 1,733 sf | $3,500,000 | $2,020 | $3,853 | 264 |
| [2006](https://bluebaybrokers.com/listing?mls=A11996343) | 3/4 | 2,058 sf | $4,250,000 | $2,065 | $4,438 | 192 |
| [PH1](https://bluebaybrokers.com/listing?mls=A12054224) | 4/5 | 3,555 sf | $7,950,000 | $2,236 | $7,501 | 61 |
| [1101](https://bluebaybrokers.com/listing?mls=A12085654) | 5/5 | 4,200 sf | $9,295,000 | $2,213 | $9,867 | 6 |

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 A11996343 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 565 sf.

| HOA at $2.29/sf/month | −$15,526 |
|---|---|
| Property tax at 2.02% of $910,000 | −$18,382 |
| Insurance (HO-6), $3.60/sf | −$2,034 |
| Annual carry, before any income | −$35,942 |

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

The rental policy is not published and the recorded declaration has not been read. The MLS shows 77 closed leases at the address, 28 of them in the last twelve months: one-bedrooms at $5,500 to $6,500 a month, two-bedrooms at $8,500 to $13,000, three-bedrooms at $17,000 to $23,000. Residence 315 leased at $6,500 in August 2026: $78,000 a year, 8.6 percent gross on its $910,000 ask. After the $35,942 of association fee, tax and insurance above, $42,058 remains, or 4.6 percent, before vacancy and upkeep. The association fee runs about $2.29 a foot a month, so get the budget and the reserve study with the declaration.

## How it was built and sold

| Construction financing | Delivered, so construction debt is behind it. The Real Deal coverage read for this study names no construction lender; CanAm Enterprises lists the project as financed through a loan facility originated by Mack Real Estate Credit Strategies, amount not published. |
|---|---|
| Presold | Not disclosed |
| Delivery | Delivered. The Real Deal reported completion on 31 July 2024, Bridge YearBuilt reads 2024 on 104 of 124 rows, and the first MLS closing was 19 September 2024. |
| Developer | Terra, led by David Martin, with the Cipriani family's Mr. C brand. Sales launched in January 2020 from the low $600,000s, and the expected sellout at completion was above $500M (The Real Deal). |
| Rental policy | Rental policy not published; recorded declaration not read. MLS: 77 closed leases at the address, and one MLS remark offers a six-month term |

## Recommendation

BlueBay Brokers · Mr. C Residences Coconut Grove

### Buy the closings, not the asks

A delivered, branded Terra building in the Grove that actually trades: 17 closings in twelve months and real leases on every plan. Construction risk is gone, and the one-bedroom line moved from $780,000 to $900,000 in fifteen months.

Start with the seven listings past 150 days and offer on the building's own closings, about $1,530 a foot and 8 percent under ask. Get the recorded rental language and the association budget before signing; residence 315, leased at $6,500, is the income case.

## Questions buyers ask

### Does Mr. C Residences Coconut Grove allow short-term rentals such as Airbnb?

Rental policy not published; recorded declaration not read. MLS: 77 closed leases at the address, and one MLS remark offers a six-month term. Until the developer publishes it and the condominium declaration is recorded, nothing can be stated either way.

### What do residences at Mr. C Residences Coconut Grove cost?

Owners ask $910,000 to $9.295M on the MLS today · 565 – 4,200 sf · 17 closings in twelve months at a median $1,530/sf. The study above sets these figures against what actually closed nearby.

### When does Mr. C Residences Coconut Grove deliver?

Delivered. The Real Deal reported completion on 31 July 2024, Bridge YearBuilt reads 2024 on 104 of 124 rows, and the first MLS closing was 19 September 2024.

### Who is developing Mr. C Residences Coconut Grove?

Terra, led by David Martin, with the Cipriani family's Mr. C brand. Sales launched in January 2020 from the low $600,000s, and the expected sellout at completion was above $500M (The Real Deal).

### Who can I talk to about buying at Mr. C Residences Coconut Grove?

Carolina Peña, broker at BlueBay Brokers (Florida licence BK3288753), handles new developments, in English or Spanish: WhatsApp or phone +1 786 326 8778, carolina@bluebaybrokers.com. This study is independent, written by Steve Gabison, broker (BK3411036), from recorded County deeds and MLS closings.

## 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

- [Arbor Coconut Grove, Coconut Grove, Delivered 2025](https://bluebaybrokers.com/buildings/arbor-coconut-grove)
- [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)
- [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, Terra completes Mr. C Residences in Coconut Grove (July 2024)](https://therealdeal.com/miami/2024/07/31/terra-completes-mr-c-residences-in-coconut-grove)
- [The Real Deal, Condos at Mr. C Residences in Coconut Grove will start in the $600Ks (January 2020)](https://therealdeal.com/miami/2020/01/27/condos-at-mr-c-residences-in-coconut-grove-will-start-in-the-600ks)
- [Terra, Terra breaks ground on Mr. C Residences Coconut Grove](https://terragroup.com/terra-breaks-ground-on-mr-c-residences-coconut-grove-condo)
- [CanAm Enterprises, Mr. C Residences project page](https://www.canamenterprises.com/past-project/mr-c-residences)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-11-12. 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.