# Vita at Grove Isle condos: resale prices and rental rules

> Source: https://bluebaybrokers.com/buildings/vita-grove-isle
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-10-21
> 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

Vita is 65 finished residences on a private island off Coconut Grove, and it already closes at about $2,400 a foot: #S501 and #S502 at $6.5 million and #M401 at $9.4 million, all in 2026. The cheapest residence listed today, #S301, asks $2,302, inside that recorded range. In a postcode with 5.9 months of supply, a seller's market, the entry line is the one to own.

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

Closings per year 71 trailing 12 months, 33133, same band

Years of supply 0.9 this building alone

Band closes at $1,616/sf median of real closings, not asks

| Band, 33133 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $5M – $10M | 53 | $6,500,000 | $1,616 |
| $10M and above | 18 | $14,500,000 | $2,375 |

**A small delivery its market can absorb**

Vita is 0.9 years of supply against the 71 homes that closed above $5 million in 33133 over the trailing year. 45 of those were houses, so the condominium buyer pool is thinner than the count, but 65 residences in three low buildings is a small delivery and the developer was more than 70% presold by the January 2024 loan. 11 residences are listed today, 17% of the building. Four four-bedrooms between $8.9 and $9.8 million have sat for more than 220 days: that is where supply sits and where a buyer negotiates. Coconut Grove as a whole holds 5.9 months of inventory, which favours sellers.

## 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 285 homes listed across 33133

Sold, trailing year 578 recorded closings, every price

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

Asking vs sold $1,122/sf asked, against $890/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 $1,839/sf median of 29 closings this year

Movement since +14.2% across recently delivered buildings

This building asks $2,302/sf entry residences

Entry vs new stock +25% below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2024 | 10 | $1,611 |
| 2025 | 22 | $1,530 |
| 2026 | 29 | $1,839 |

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 $2,302–$3,031/sf $5.6M – $21.3M · 2,433 – 7,027 sf

Band closes at $1,616/sf $5M – $10M, trailing 12 months

Listed here today 11 median $2,597/sf

**Priced at what the building already clears**

Against the $5 to $10 million band in 33133, which closed at $1,616 a foot, Vita asks a clear premium, and condos built since 2023 in the postcode resell at $1,839 this year. Neither comparison is on a private island. The one that holds is the building itself: five MLS closings in 2026 from $6.5 to $19.8 million, the four below $10 million at $2,165 to $2,479 a foot, the two-storey penthouse #PH-S04 at $3,364. Entry #S301 at $2,302 sits inside that range. MLS area on new construction often includes terraces, so re-divide by the recorded area before comparing outside the building.

## On the MLS today

11 listings at this address are Active right now, pulled 2026-10-21. 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 |
|---|---|---|---|---|---|---|
| [S301](https://bluebaybrokers.com/listing?mls=A12066218) | 3/4 | 2,433 sf | $5,600,000 | $2,302 | $4,213 | 74 |
| [L405](https://bluebaybrokers.com/listing?mls=A12045809) | 3/4 | 2,503 sf | $6,500,000 | $2,597 | $4,356 | 42 |
| [L205](https://bluebaybrokers.com/listing?mls=A11983875) | 3/4 | 2,608 sf | $6,750,000 | $2,588 | $4,532 | 146 |
| [L404](https://bluebaybrokers.com/listing?mls=A12048887) | 3/4 | 2,503 sf | $6,950,000 | $2,777 | $4,367 | 24 |
| [S503](https://bluebaybrokers.com/listing?mls=A11949141) | 4/5 | 4,117 sf | $8,940,000 | $2,171 | — | 260 |
| [M303](https://bluebaybrokers.com/listing?mls=A11963726) | 4/5 | 3,613 sf | $8,950,000 | $2,477 | $6,375 | 237 |
| [M204](https://bluebaybrokers.com/listing?mls=A11970177) | 4/5 | 3,610 sf | $9,500,000 | $2,632 | $6,280 | 232 |
| [S304](https://bluebaybrokers.com/listing?mls=A11979318) | 4/5 | 4,019 sf | $9,800,000 | $2,438 | $7,066 | 223 |
| [M301](https://bluebaybrokers.com/listing?mls=A12090492) | 4/5 | 3,798 sf | $10,000,000 | $2,633 | $6,658 | 21 |
| [PH M02](https://bluebaybrokers.com/listing?mls=A12097530) | 4/6 | 5,051 sf | $20,600,000 | $4,078 | $9,535 | 0 |
| [PH-L05](https://bluebaybrokers.com/listing?mls=A12025886) | 4/6 | 7,027 sf | $21,300,000 | $3,031 | $6,765 | 127 |

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 A12025886 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 2,433 sf.

| HOA at $1.75/sf/month | −$51,093 |
|---|---|
| Property tax at 2.02% of $5,600,000 | −$113,120 |
| Insurance (HO-6), $3.60/sf | −$8,759 |
| Annual carry, before any income | −$172,972 |

**What the entry residence costs to hold**

Dues on the live listings run about $1.75 a foot a month, $4,213 on the 2,433 sf entry residence, and property tax at 2.02% is the largest line: about $173,000 a year to own before any income. The rental policy is not published. At this price Vita is a primary or second home rather than an income asset, but a buyer who may lease it still needs the leasing article of the recorded Declaration, and I will get it before you sign.

## How it was built and sold

| Construction financing | Bank OZK, $239 million in January 2024, with more than 70% of the residences presold at the time. The buildings are delivered, so construction and lender risk are retired. |
|---|---|
| Presold | 70% at last disclosure |
| Delivery | Construction began April 2023; closings began December 2025. |
| Developer | CMC Group, led by Ugo Colombo. Three curved seven-storey buildings on the 20-acre island, with a bayfront pool, pickleball courts and yacht club access. |
| Rental policy | Rental policy not published; recorded declaration language to be read |

## Recommendation

BlueBay Brokers · Vita at Grove Isle

### Buy on the building's own closings

Vita is finished, was financed by a $239 million Bank OZK loan and was largely sold before delivery, so what you buy is a delivered bayfront residence on a private island with no construction risk left.

Anchor the offer on the 2026 closings at $2,165 to $2,479 a foot, not on the asks. The three-bedroom entry line is priced inside that range; the four-bedrooms listed for more than 220 days are where to push on price.

## 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)
- [Cipriani Residences Miami, Brickell, 2027](https://bluebaybrokers.com/buildings/cipriani-residences)
- [2200 Brickell, Brickell, 2026](https://bluebaybrokers.com/buildings/2200-brickell)
- [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

- [Florida YIMBY, CMC Group lands $239 million construction loan for Vita at Grove Isle (Jan 2024)](https://floridayimby.com/?p=24839)
- [Commercial Observer, Bank OZK lends $239M on Grove Isle condo project (Jan 2024)](https://commercialobserver.com/2024/01/bank-ozk-grove-isle-cmc-group/)
- [South Florida Agent Magazine, Closings underway for Vita at Grove Isle (Dec 2025)](https://southfloridaagentmagazine.com/2025/12/19/sales-underway-vita-at-grove-isle/)
- [Developer site, vitagroveisle.com](https://vitagroveisle.com/)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-10-21. 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.