In the battle for supremacy among Miami’s most prestigious residential towers, one project has quietly set itself apart. While many assumed One Thousand Museum — the Zaha Hadid–designed icon in Park West Miami — would long be considered the benchmark for mainland Miami luxury, sales data reveals a different story. The crown belongs to One Park Grove — the OMA•Rem Koolhaas jewel in Coconut Grove — which has accomplished what no other condo on mainland Miami has: breaking $3,000 per square foot (and doing so a number of times). One Thousand Museum was completed in 2019 while One Park Grove was delivered just a year later in 2020.
One Park Grove Redefines the Market
Over the past 12 months, One Park Grove has averaged $3,354 per square foot, a figure that jumps to $3,850 per square foot over the past six months. Even more impressive? The most recent sale that achieved this record was not a penthouse, but rather a standard residence.
The Top 3 Record-Breaking Sales at One Park Grove
Residence 15A – Sold for $12.5M ($3,850 per square foot) on May 15, 2025
Penthouse A – Sold for $22.5M ($3,504 per square foot) on February 14, 2025
Residence 15A – Sold for $10.7M ($3,295 per square foot) on February 13, 2024
Together, these three sales firmly establish One Park Grove as the only condo development in mainland Miami to have crossed the $3,000 per square foot threshold—on multiple occasions.
Echo Brickell: Close, But Not Quite
The next closest challenger to crack $3,000 per square foot was the duplex penthouse at Echo Brickell, which sold in October 2024 for $33 million ($2,982 per square foot). While an extraordinary result, it ultimately fell just short of the coveted $3,000 per square foot milestone. Echo Brickell remains an important player in the luxury market, but its success highlights just how rare and difficult it is to reach this benchmark.
One Thousand Museum: Once the Bellwether, Now Falling Behind
For years, many considered One Thousand Museum the “bellwether” for pricing power in mainland Miami. Its futuristic design by the late Zaha Hadid and iconic silhouette seemed to guarantee record-setting values. Indeed, the building made headlines when David Beckham purchased the top full-floor penthouse in September 2022 for $19.5 million ($2,120 per square foot)—the first time any mainland Miami condo crossed the $2,000 per square foot threshold.
What’s surprising, however, is what’s happened since. Not only has One Thousand Museum failed to approach $3,000 per square foot, it hasn’t even come close to its prior peak. In fact:
A sale in August 2024 closed at just $940 per square foot
Over the past 12 months, five sales at the tower have averaged only $1,214 per square foot
Far from being the market leader, One Thousand Museum appears to be moving in the opposite direction.
Comparing Other Top Developments
Other ultra-luxury developments on mainland Miami are also lagging behind the astronomical numbers achieved at One Park Grove:
Elysee in Edgewater (completed in 2021) – 11 sales over the past 12 months averaging $1,168 per square foot
While impressive, these averages underscore just how far ahead One Park Grove stands in today’s market.
The Tale of Two Towers
The contrast is striking. Both One Park Grove (OMA • Rem Koolhaas) and One Thousand Museum (Zaha Hadid) were designed by world-renowned starchitects. Neither building is situated directly on the water, instead overlooking public parks. Yet their market trajectories couldn’t be more different.
One Park Grove has quietly, repeatedly achieved record-breaking pricing power.
One Thousand Museum, once considered the benchmark, has slipped to averages comparable to projects with far less architectural notoriety.
The Top 5 Sales in Mainland Miami by Price Per Square Foot
One Park Grove #15A – $12.5M ($3,850 per square foot) – May 15, 2025
One Park Grove #PHA – $22.5M ($3,504 per square foot) – February 14, 2025
One Park Grove #15A – $10.7M ($3,295 per square foot) – February 13, 2024
Echo Brickell Penthouse – $33M ($2,982 per square foot) – October 21, 2024
One Park Grove #15D – $7.2M ($2,828 per square foot) – May 17, 2024
Final Thoughts
When it comes to record-breaking condo sales in mainland Miami, only one building has repeatedly proven itself: One Park Grove. Its ability to command over $3,000 per square foot—something no other development has achieved—marks a defining moment in Miami’s luxury real estate market.
Meanwhile, One Thousand Museum, once thought to be the inevitable market leader, now finds itself playing catch-up.
In the ever-competitive landscape of Miami luxury condos, it’s clear: only one can be THE one.
Park Grove Condos Review Complete with Prices, Photos, Video, and Floor Plans
This morning I had the distinct pleasure of touring the amenities and grounds at the upcoming ultra-luxury condominium development in Coconut Grove called Park Grove. I was joined by my wonderful girlfriend Brittany who is also an agent on the Miami Condo Investments team and an occasional real estate blogger. We were delighted to receive the exclusive invitation, well aware that construction tours for Park Grove had recently been halted, and hearing that furnishings for the common areas had only just been delivered in recent days.
When will residences at Park Grove be delivered?
Park Grove is comprised of three towers: One Park Grove, Two Park Grove, and Park Grove Club Residences. Although it seems backwards, the towers at Park Grove will be delivered in reverse order with closings at Park Grove Club Residences (Tower 3) beginning this coming week, closings for residences at Two Park Grove (Tower 2) slated to begin next month (July 2018), and closings for residences at One Park Grove (Tower 1) expected to begin towards the end of 2019. The developer is essentially saving the BEST for last because One Park Grove will offer the most panoramic water views of all three towers.
Park Grove Collaborators; Details & Specs
Park Grove is a collaboration between development titans Terra Group and Related Group and world-famous architecture firms OMA and Arquitectonica. New York City-based design team Meyer Davis has designed the lobbies and common area spaces at Park Grove while famed interior designer William Sofield has designed the lavish kitchens and baths. Last but not least, internationally-acclaimed landscape architect Enzo Enea added his finishing touches to Park Grove by delivering a magnificent design for its outdoor common area spaces.
All three towers at Park Grove rise 23 stories, but One Park Grove and Two Park Grove will each have just 67 condo residences while Park Grove Club Residences will include 129. The units at One Park Grove and Two Park Grove will enjoy 12-foot high ceilings with floor-to-ceiling glass windows while the ceilings at Park Grove Club Residences are 10 feet high. Additionally, all residences at One Park Grove and Two Park Grove will have private elevators while those at Park Grove Club Residences will share a common hallway.
The address for One Park Grove is 2811 S Bayshore Dr, Miami, FL 33133.
The address for Two Park Grove is 2821 S Bayshore Dr, Miami, FL 33133.
The address for Park Grove Club Residences is 2831 S Bayshore Dr, Miami, FL 33133.
Park Grove Amenities
For the most part, the three towers at Park Grove share amenities. Park Grove Club Residences is the exception; it has a rooftop pool which is exclusive to residents of that tower. It should be noted, however, this “extra” amenity comes at a price. On a price per square foot basis, the condominium association dues for units at Park Grove Club Residences are higher than that of One Park Grove and Two Park Grove.
Immediately above, I’ve included a Park Grove site plan of the pool / garden level amenities deck. Below is a list of the amenities shared by residents of One Park Grove, Two Park Grove, and Park Grove Residences:
24-hour doorman, full-service concierge, and security
Butler service
Signature restaurant, bar, and catering by Chef Michael Schwartz
Resident concierge app
500 feet of bayfront pools and pool deck
Park Grove poolside lounge and bistro
Poolside cabanas and towel service
Jacuzzis
Full-service bar
Private dining & event space
28-seat private screening room
Indoor and outdoor children’s play areas
Wine tasting rooms with private wine storage
Lobby living room
Lounges
Business centers and meeting rooms
Whole body fitness centers
Mind-body wellness lounge
Indoor yoga studio and outdoor yoga area
Mens’ locker room
Women’s’ locker room
Signature spa with treatment rooms
Couples treatment room
Bio-sauna with aroma infusion and herbal steam
Personal training room / yoga / pilates studio
Library
Package rooms and mail rooms
World-class art collection throughout the common areas
Espresso bars
Private dining room
Five acres of private gardens designed by Enzo Enea
Availability, Pricing, and Floor Plans for Residences at Park Grove
Park Grove Club Residences (Tower 3) is completely sold out of developer inventory; it has been since early 2017. However, the good news is that resale inventory should hit the market in the coming weeks as contract holders begin closing with the developer. And if you are interested in possibly renting a unit at Park Grove Club Residences, I expect rental listings at Park Grove Club Residences to hit the market in the coming weeks as well. The units at Park Grove Club Residences come finished with flooring throughout, so it shouldn’t take long for new owners to get them ready for tenants to live in.
Closings for residences at Two Park Grove (Tower 2) are expected to begin next month (July 2018). As of this writing, just three developer units remain for sale at Two Park Grove:
Residence 4B – a 3 Bed + Den / 3.5 Bath residence with 2,884 interior square feet, 394 square feet of balcony, private elevator, and 12-foot high ceilings with floor-to-ceiling glass windows – asking $2,457,000 ($852 per square foot)
Residence 4C – a 2 Bed + Den / 2.5 Bath residence with 2,232 interior square feet, 314 square feet of balcony, private elevator, and 12-foot high ceilings with floor-to-ceiling glass windows – asking $1,845,000 ($827 per square foot)
Penthouse D – a 3 Bed / 3.5 Bath residence with 2,917 interior square feet, 439 square feet of balcony, private elevator, and 12-foot high ceilings with floor-to-ceiling glass windows – asking $4,500,000 ($1,543 per square foot)
For those looking to purchase a resale unit at Two Park Grove, I expect resale listings to start hitting the market towards the beginning of August. For those looking to rent a unit at Two Park Grove, I expect rental listings to hit the market at around the same time.
One Park Grove (Tower 1) is expected to be completed towards the end of 2019. As of this writing, 40% of the developer units at One Park Grove remain for sale. Given that One Park Grove was the last of the three towers to launch sales, this isn’t all that surprising. As I mentioned earlier, the developer saved the best for last, so if you are planning to purchase a unit at Park Grove, this is the tower where you want to be. Below is a summary of the developer inventory that still remains at One Park Grove. This tower has four residences per floor (A, B, C, and D), so each type of floor plan still has available options.
Residence A – a 4 Bed / 5.5 Bath residence with 3,592 interior square feet, 442 square feet of balcony, private elevator, and 12-foot high ceilings with floor-to-ceiling glass windows Prices Range: $4,470,000 to $7,000,000
Residence B – a 3 Bed + Den / 3.5 Bath residence with 2,884 interior square feet, 393 square feet of balcony, private elevator, and 12-foot high ceilings with floor-to-ceiling glass windows Prices Range: $2,875,000 to $4,598,000
Residence C – a 2 Bed + Den / 2.5 Bath residence with 2,232 interior square feet, 314 square feet of balcony, private elevator, and 12-foot high ceilings with floor-to-ceiling glass windows Prices Range: $2,700,000 to $3,770,000
Residence D – a 3 Bed / 3.5 Bath residence with 2,917 interior square feet, 439 square feet of balcony, private elevator, and 12-foot high ceilings with floor-to-ceiling glass windows Prices Range: $3,250,000 to $5,000,000
Lower PH B – a 4 Bed / 5.5 Bath penthouse with 5,149 interior square feet, 753 square feet of terrace space, private elevator, 12-foot high ceilings with floor-to-ceiling glass windows Price: $11,813,000
Brittany and I were BLOWN AWAY by what we saw today at Park Grove. In fact, we asked each more than once during our tour, “so when are we moving here?”. We’re seriously thinking about it. Park Grove offers everything that you could ever want from a condo development: low density, world-class amenities, exclusivity, convenience, 5-star service, A+ location, and beautifully designed common area spaces. And Park Grove is like an art museum…with curated artwork everywhere you turn.
Although Brittany and I weren’t able to view any of the residences at Park Grove during today’s tour, we were floored by what we did see. Park Grove has the makings to become Miami’s 2018 Development of the Year. With Zaha Hadid’s One Thousand Museum due to be delivered this December, that’s a lot to be said. I guess you can say, with Park Grove, the bar has been set for all who shall pass!
One of the best things about Park Grove is that it’s located in Coconut Grove. With Regatta Park (a 12-acre waterfront park) located across the street; various marinas within walking distance; a myriad of shops, restaurants, and bars just blocks away at CocoWalk; and breathtaking views of the water and city, Coconut Grove is the ideal location for all types of lifestyles. It also has some of the best schools in the state within close proximity.
Park Grove Photo Tour
Brittany and I took a TON of photos during our tour of Park Grove. Between the two of us, we took close to 300 photos of the amenities and common area spaces. While we weren’t able to tour Park Grove Club Residences’ rooftop pool, we were able to view pretty much everything else. We weren’t able to walk inside the fitness center (because the doors were locked) but we did take a photo of it through the window. As you will see in our photos below, not everything was quite finished, but it’s quickly getting there. Of all the common area spaces, the wine room was the only area that was heavily under construction.
Park Grove Club Residences exterior, entrance, and lobby
Park Grove Club Residences
Park Grove driveway entrance
Park Grove Club Residences front desk
Park Grove Club Residences lobby
lobby artwork at Park Grove Club Residences
lobby living room and staircase at Park Grove Club Residences
a look back down the staircase at the hanging gardens
Park Grove Indoor Amenities and Common Areas
hallway to Park Grove amenities
fitness center with Techno Gym equipment
spa treatment room
couples treatment room with soaking tub
women’s locker room
spa towels
bathroom in women’s locker room
sauna
steam room
beauty salon
private screening room
private screening room
children’s playroom
children’s playroom
it even has Candy Land and Operation 🙂
wine room (under construction)
lounge area
lounge area
seating area
artwork in the common area spaces at Park Grove
Park Grove Bar & Bistro by Michael Schwartz
Chef extraordinaire Michael Schwartz will have a huge presence at Park Grove: (1) he will own and operate a street-level restaurant, which will be open to the public; (2) operate a poolside bar and bistro, which will be private to residents and guests of Park Grove; and (3) operate a poolside bar and cafe, which will be exclusive to residents and guests at Park Grove. Below are exclusive photos of the Michael Schwart’s soon-to-be-completed bar and bistro at Park Grove. It is is expected to open in the coming months. The street-level restaurant is slated to open by year’s end.
Park Grove bar and bistro by Michael Schwartz
bar by Michael Schwartz
poolside restaurant lounge area
Park Grove Bar Outdoor Amenities and Common Area Spaces
Outside is where the real magic happens. Don’t get me wrong, the interior common area spaces at Park Grove are to die for, but Enzo Enea brought his A-game when designing the lush, outdoor landscapes.
water views from the 4th floor pool deck
Park Grove pool deck
Park Grove pool deck
poolside bar and cafe at Park Grove (under construction)
One Park Grove construction
construction worker at Park Grove
exterior of Two Park Grove
landscape design by Enzo Enea
Park Grove Club Residences exterior photo
Park Grove amphitheater
a beautiful day at Park Grove
If you or someone you know are interested in purchasing or renting a condo at Park Grove Residences in Coconut Grove, email Lucas at [email protected], or call 305-428-3860.
