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South Florida

Related developer Jorge Pérez buys condo at one of his Miami projects

Related co-developed the project with David Martin’s Terra

Related Group founder and CEO Jorge Pérez purchased a unit at another one of his projects.

Pérez and his wife, Darlene, paid $7.4 million for an upper penthouse at One Park Grove, one of three towers at Park Grove, a luxury condo development Related built with David Martin’s Terra. Pérez and his wife own a bayfront estate in Coconut Grove.

Pérez has purchased units in his projects in the past. Last year, he listed his penthouse at Apogee Beach in Hollywood for nearly $7.6 million.

He also still owns the penthouse at One Ocean in South Beach, which he first listed for $20 million in 2016. He later reduced the price to $11 million, but it is not currently on the market.

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One Park Grove, a 23-story, 66-unit building at 2701 South Bayshore Drive, features multi-level gardens and outdoor spaces designed by landscape architect Enzo Enea. The interiors were designed by Meyer Davis Studio and the kitchens and baths were designed by William Sofield. Amenities include a 2-acre private park, an outdoor amphitheater, lounges, a private screening room, wine tasting room, fitness center, and a restaurant by chef Michael Schwartz.

Terra and Related paid off the $112 million construction loan for One Park Grove in August.

Overall, Park Grove, a 5-acre development designed by OMA and Rem-Koolhaas, has a total of 271 units.

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Pérez founded Related Group in 1979. Known as South Florida’s most prolific condo builder, Related also has affordable-housing, mixed-use and market-rate multifamily divisions. In November, one of Pérez’s sons, Jon Paul, was named president of the company. His sons are expected to eventually take over control of Related.

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Coconut GroveJorge PerezPark GroveRelated GroupTerra