Cloisters On The Bay – Market ReportSeptember 30, 2009
Cloisters On The Bay is a gated community of 40 villas in the heart of downtown Coconut Grove. The community is waterfront although only a few villas have water views. The amenities at The Cloisters include a heated pool, tennis court, club house and a 24 hour security guardhouse.
There have been two closed sales this year. The first was Unit 518, a 4 bedroom, 4 bath with 5,860 square feet of living space and sold for $1,350,000 ($230.00 psf). This unit sold for $2,150,000 back in 2002.
The second Unit sold this year was Unit 1135 a short salewhich featured 3 bedrooms, 3 baths with 5,822 square feet of living space and sold for $1,000,000 ($171.00 psf).
The most expensive on the market is Unit #622 (above) priced at $2,990,000 which features direct bay views, a master suite, impact resistant doors and windows, rooftop terrace plus more. Broker is Avatar.
Probably the best deal in The Cloisters right now is Unit #205 (above) priced at $1,395,000 asking $246.00 per square foot. This unit has the lowest price per square foot in the community and features 5,664 square feet of living space with 4 bedrooms/4 baths. Broker is EWM.
If you have the luxury of time, check out the two short sales in The Cloisters. Units 204 and 1137 are both priced at $1,350,000 and feature 4,500 square feet of living space with 3 bedrooms and 4 baths. Broker is EWM for both.
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If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.