Mike Fernandez, Emerson Fittipaldi snag Park Grove condos

Fernandez is buying two units totaling more than $10 million

TRD MIAMI /
Jan.January 16, 2015 04:19 PM

Healthcare billionaire Mike Fernandez and race car driver Emerson Fittipaldi have put contracts on condominiums at the planned Park Grove in Coconut Grove.

Fernandez, who has just written the book “Humbled by the Journey,” is purchasing one unit for himself and the other for his daughter, for a total purchase price of more than $10 million, according to the project’s developers.

Fittipaldi plans to move his family from Key Biscayne to Coconut Grove when the project is completed in 2017, the developers said. The home Fernandez purchased for himself is a two-story, 5,000 square-foot condominium with four bedrooms, five-and-a-half baths and a private swimming pool. His daughter will live in a nearly 2,000 square foot condo, with two bedrooms and two baths.

Park Grove, at 2701 South Bayshore Drive, is the first development partnership for Pedro Martin of Terra Group and Jorge Perez of Related Group. The luxury condo project is being designed by Rem Koolhaas.

Plans call for two 20-story, 72-unit condo towers and a third 20-story building with 140 units. Prices in the 72-unit towers range from $2.1 million to $4.6 million, not including penthouses. Terra and Related hope to start building the project by early 2015 — Ina Cordle


Related Articles

arrow_forward_ios
Placeholder image

Miami board approves plans for Related, Crescent Heights towers and rejects Melo’s proposal

Miami board approves plans for Related, Crescent Heights towers and rejects Melo’s proposal
Jon Paul Perez and Russell Galbut with renderings of the projects

Related, Crescent Heights and Melo Group seek approval for Miami projects

Related, Crescent Heights and Melo Group seek approval for Miami projects
Domio Wynwood, Gustavo Miculitzki, and Jon Paul Pérez (Credit: Alberto Tamargo/Getty Images)

Related lists Domio Wynwood apartment-hotel for sale with whisper price of $90M

Related lists Domio Wynwood apartment-hotel for sale with whisper price of $90M
Eighty Seven Park (iStock)

Eighty Seven Park’s priciest penthouse sells for $37M

Eighty Seven Park’s priciest penthouse sells for $37M
From left: Jorge Pérez, Stuart Miller, Craig Robins, Louise Sunshine, and Russell Galbut,(Credit: Patrick McMullan via Getty Images)

Here are the South Florida real estate players who donated to candidates in 2020

Here are the South Florida real estate players who donated to candidates in 2020
Mark M. Rubin & Howard M. Lorber

Movers & Shakers: Related taps Douglas Elliman for condo sales & more

Movers & Shakers: Related taps Douglas Elliman for condo sales & more
Jorge Perez, Mario Procida, and Lewis Swezy (Credit: Sergi Alexander/Getty Images)

Miami-Dade approves three affordable housing redevelopment projects for south Dade

Miami-Dade approves three affordable housing redevelopment projects for south Dade
Matthew B. Gorson and One Park Grove (Google Maps)

Greenberg Traurig chairman pays $7M for One Park Grove condo

Greenberg Traurig chairman pays $7M for One Park Grove condo
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...