Rosy Cancela
As so many Miamians know, we are a real estate town. If we learned anything over the past 15 years, our booms can affect the real estate value throughout the nation, if not the world. So as our luxury real estate market begins its latest ascent, it is with great honor that I undertake this wonderful opportunity with SocialMiami and join an esteemed group of contributors with my monthly column, “Prospect Neighborhood.”
This month I will take you through the village of Coconut Grove – one of my favorite neighborhoods. Coconut Grove is the oldest continuously inhabited neighborhood in Miami-Dade County, located just South of Brickell Avenue and Key Biscayne and East of Coral Gables.
As you drive through the Grove, the lushness of the landscape and its architectural mix can be perplexing. You may find, on the same block, a posh estate next to a simple frame cottage, or an ultra-modern home nestled amongst mature and profusely blooming Poinciana trees.
The Barnacle Historic State Park, originally the home of Ralph Middleton Munroe, built in 1891
Tourists and locals alike enjoy the small boutiques, galleries, sidewalk cafes and specialty stores all within walking distance in the Central Grove. The Sonesta Hotel’s Panorama Restaurant & Sky Lounge (2889 McFarlane Road), a spot for Peruvian-inspired cuisine at its best, offers spectacular views of Sailboat Bay and Peacock Park. Another favorite dining spot is Le Bouchon du Grove on Main Highway (3430 Main Highway). If you’re looking for just that special book, there is no better place than the Bookstore in the Grove just across from Cocowalk (3399 Virginia Street). Its café is very special as well, featuring some amazing bake goods. Kitchen at 475 Bay Lane
The economic downturn hit the Grove hard with property values decreasing by 25% on the average, yet 2012 has proven to be very active in both sales and rentals. There is currently a shortage of inventory.
This month my featured listing is just north of Coconut Grove in Key Biscayne. Exclusivity is one of the main features of this four mile island situated in the waters of Biscayne Bay and the Atlantic Ocean.
The custom-built home is located at 475 Bay Lane and is offered at $5.7 million. Beautiful Grecian Taso white marble, hand selected and customized on the premises, covers the home’s downstairs. Smart technology, antique lighting, and Swiss hardware on the all solid wood doors featuring invisible hinges are just some of the extras. Living room at 475 Bay Lane
Its spacious rooftop terrace allows for an enjoyable afternoon coffee or outdoor dining while entertaining. Lush and manicured landscape surrounds this 6000 square foot home, giving it the feel of an island within an island! Designed with natural light in mind, the home is bright and roomy with an oversized kitchen large enough to fit the whole family.
