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
After the construction of Eighty Seven Park (Google Maps)
Before Surfside tragedy, neighboring tower faced opposition, delays over construction impact
Before Surfside tragedy, neighboring tower faced opposition, delays over construction impact
Jorge and Darlene Pérez with the home (Compass, Getty)
Billionaire developer Jorge Pérez sells Coconut Grove mansion for $33M, donates proceeds
Billionaire developer Jorge Pérez sells Coconut Grove mansion for $33M, donates proceeds
Avra Jain closes on Hialeah industrial property for entertainment project
Avra Jain closes on Hialeah industrial property for entertainment project
Avra Jain closes on Hialeah industrial property for entertainment project
(Pacheco-Martinez & Associates)
$65M sale of waterfront Coconut Grove spec mansion sets new record in Miami-Dade: sources
$65M sale of waterfront Coconut Grove spec mansion sets new record in Miami-Dade: sources
Jorge Pérez with his longtime Miami mansion (Getty, 1Oak)
Miami’s condo king to sell his Coconut Grove palace after moving to Park Grove
Miami’s condo king to sell his Coconut Grove palace after moving to Park Grove
The Grovenor House and Yamal Yidios (Compass, Ytech)
Ytech CEO sells Coconut Grove penthouse for $8M
Ytech CEO sells Coconut Grove penthouse for $8M
Nathan Leight and the Coconut Grove estate (One Sotheby's, Terrapin Partners)
Private equity tycoon trades one Coconut Grove estate for another
Private equity tycoon trades one Coconut Grove estate for another
Hilarie Bass (The Bass Institute) and 3591 Rockerman Road, Miami (Toni Schrager / Brown Harris Stevens Miami)
Former Greenberg Traurig co-president sells waterfront Coconut Grove home for $16M
Former Greenberg Traurig co-president sells waterfront Coconut Grove home for $16M
arrow_forward_ios

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

Loading...