Hotel developer buys at Grove at Grand Bay: $6.6M

Miami /
Aug.August 22, 2016 02:15 PM

Updated 1:45 p.m., Aug. 24: A Miami-based hotel developer closed on a unit at the newly completed Grove at Grand Bay in Coconut Grove.

Bernard and Jessie Wolfson paid $6.55 million for unit 1603N at the twisting, twin-tower development, Miami-Dade County records show. Bernard Wolfson heads Hospitality Operations Inc., a hotel owner and developer active in South Florida, and practiced real estate law from the early 1960s to 2000, according to published reports. They paid about $1,153 a foot for their 5,683-square-foot unit.

The Wolfsons, who are also active in South Florida’s arts, theater, hospital and religious nonprofit worlds, own a 5,660-square-foot condo at the nearby Cloisters on the Bay complex. Cervera Real Estate’s Phillip Freedman and Sandra Masis brokered the sale of their Grove at Grand Bay unit.

Terra Group delivered Grove at Grand Bay earlier this month. The 98-unit, twin 20-story development was designed by starchitect Bjarke Ingels along with architect John Nichols of Nichols Brosch Wurst Wolfe & Associates.

Cervera handled sales for the project, which launched in 2012. Units range from 1,300 square feet to the 10,000-square-foot, full-floor penthouse. Prices ranged from about $1 million to $14 million, excluding the penthouse that’s on the market for $28 million.

Other buyers so far include Joseph Padovano, founder of the valet company US Parking; family wealth manager Didier Doucet; and a handful of prominent South American buyers.

Raymond Jungles handled the landscaping, which includes roughly 500 trees and more than 15,000 plants. Amenities will include rooftop pools, a spa and gym, a pet spa and a bicycle space for every resident. The project is aiming for LEED Gold certification, developer David Martin previously told The Real Deal.

Terra could not immediately be reached for more information on the Wolfsons’ unit.


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