Entity tied to private equity firm buys Coconut Grove spec home for $5M

Seller completed the house this year

Miami /
Dec.December 16, 2020 09:45 AM
3608 Stewart Ave, Miami (Redfin)

3608 Stewart Ave, Miami (Redfin)

 

An entity tied to a real estate private equity firm purchased a spec home in Coconut Grove for $5.4 million.

Dearborn Capital Management LLC, tied to Dearborn Capital Group, bought the house at 3608 Stewart Avenue in Miami from Ruegroup LLC, a Florida company. Brown Harris Stevens agent Anabella Hidalgo signed for Ruegroup LLC as an authorized member.

Dearborn Capital Group is a real estate private equity and asset management firm based in New York City, according to its website.

Property records show Ruegroup bought the property as an empty lot in 2017 for $1.6 million and began building a three-story home in 2018. The home was completed this year and went on the market in May with an asking price of $5.6 million.

Hidalgo represented Ruegroup, while David Siddons of Douglas Elliman represented Dearborn Capital.

The 7,369-square-foot house was built by ICH Builders and designed by Jose Sanchez of Praxis. The home has seven bedrooms and seven-and-a-half bathrooms. Other features include a 250-plus glass wine room, elevator, five carports and a pool, according to the listing.

Coconut Grove has been an attractive destination for buyers in recent months. The director of a cryptocurrency trading company sold his Coconut Grove mansion for $6.7 million.

Also, Greenberg Traurig’s senior chairman bought a penthouse at One Park Grove for $7.3 million, and Miami billionaire Mike Fernandez sold a unit at Grove at Grand Bay for $8 million in September.






    Related Articles

    arrow_forward_ios
    Maria Alejandra Llamas and 4100 Kiaora Street, Miami. (WikiMedia, Douglas Elliman)
    Author closes chapter on Coconut Grove mansion for $9M
    Author closes chapter on Coconut Grove mansion for $9M
    2550 South Bayshore Drive, Coconut Grove (JLL)
    Here’s how much Suntex paid for Monty’s Raw Bar and adjacent marina in Coconut Grove
    Here’s how much Suntex paid for Monty’s Raw Bar and adjacent marina in Coconut Grove
    Jorge Pérez with One Park Grove (Getty, Robin Hill)
    Related developer Jorge Pérez buys condo at one of his Miami projects
    Related developer Jorge Pérez buys condo at one of his Miami projects
    Stephanie & André Dua with 3829 Stewart Avenue, Miami. (LinkedIn via Stephanie Dua, Mckinsey & Company, Lifestyle Production Group for ONE Sotheby’s International Realty)
    Ceres Global Advisory founder sells Coconut Grove home
    Ceres Global Advisory founder sells Coconut Grove home
    Fuse Group CEO Eyal Peretz and Metronomic's Ricky Trinidad with 3364 Oak Avenue (Photo via Google Maps; Fuse; Metronomic)
    Bankruptcy judge paves way for Metronomic property auction
    Bankruptcy judge paves way for Metronomic property auction
    3187 Royal Road, Coconut Grove (Realtor)
    Ransom Everglades sues developer Caroline Weiss over backyard boat dock
    Ransom Everglades sues developer Caroline Weiss over backyard boat dock
    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
    Kelly Beam, Ricky Trinidad , and 3265 Bird Avenue (Credit: Google Maps)
    Miami developer Metronomic files for bankruptcy
    Miami developer Metronomic files for bankruptcy
    arrow_forward_ios

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

    Loading...