Terra, Mr. C unveil plans for luxury condo in Coconut Grove

Douglas Elliman will be handling sales of 121-unit project

Miami /
Nov.November 22, 2019 03:30 PM
Terra's David Martin and a rendering of the project

Terra’s David Martin and a rendering of the project

The Cipriani family’s next project will be a luxury condo tower in Coconut Grove.

Less than a year after opening its Mr. C Miami hotel in the Grove, the Ciprianis are working with David Martin’s Terra to launch a Mr. C branded mixed-use condo project nearby at 2655 South Bayshore Drive, according to a press release.

Arquitectonica’s Raymond Fort is designing the building and Meyer Davis is handling the interiors. The 20-story building will have 121 units and ground-floor retail space.

The development is the first major residential project for the Mr. C brand. The hospitality brand will manage the food and beverage operations, including a gourmet market and cafe, Martin said.

Sales are expected to launch in December with Douglas Elliman. Elliman’s Cathy Strafaci will lead sales, Martin added.

Terra recently closed on $185 million in construction financing for the 1.5-acre site, previously known as the Bayshore Grove project. Mack Real Estate Credit Strategies is the lender.

Martin said he plans to break ground on the new project by the second quarter of next year.

The property is one parcel away from Terra’s Grove at Grand Bay, a pair of Bjarke Ingels-designed luxury condo towers. It’s also across the street from Treo Group’s Regatta Harbour, a 9.5-acre, mixed-use bayfront development with more than 100,000 square feet of retail and restaurants, a new marina, dry boat storage and more.


Related Articles

arrow_forward_ios
David Martin of Terra and an aerial shot of 1177 Kane Concourse in Bay Harbor Islands, FL (Terra, Google Maps)
Terra nabs $141M construction loan for Bay Harbor Islands mixed-use project
Terra nabs $141M construction loan for Bay Harbor Islands mixed-use project
Surfside collapse defendants deflect responsibility in new court docs
Surfside collapse defendants deflect responsibility in new court docs
Surfside collapse defendants deflect responsibility in new court docs
Terra’s CentroCity development
Here are South Florida’s biggest retail leases of 2021
Here are South Florida’s biggest retail leases of 2021
The Grove at Grand Bay
Grove at Grand Bay closing tops weekly condo sales in Miami-Dade
Grove at Grand Bay closing tops weekly condo sales in Miami-Dade
Fashion tycoon‘s former Coconut Grove mansion sells for $10M
Fashion tycoon‘s former Coconut Grove mansion sells for $10M
Fashion tycoon‘s former Coconut Grove mansion sells for $10M
Corcoran’s Julian Johnston, Luxe Living Realty’s Dora Puig, One Sotheby’s’ Jeff Miller, Douglas Elliman’s Dina Goldentayer and Douglas Elliman’s Oren Alexander
WATCH: Top luxury brokers go head to head at TRD’s Miami event
WATCH: Top luxury brokers go head to head at TRD’s Miami event
Bowling alley and two retail centers in Broward trade for combined $59M
Bowling alley and two retail centers in Broward trade for combined $59M
Bowling alley and two retail centers in Broward trade for combined $59M
Major Food Group to open Sadelle’s in Coconut Grove
Major Food Group to open Sadelle’s in Coconut Grove
Major Food Group to open Sadelle’s in Coconut Grove
arrow_forward_ios

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

Loading...