Grovenor House

One of the few buildings still going up

Qualified, arm’s-length sales from the Miami-Dade County Property Appraiser record, retrieved 21 August 2026.

I have measured a great many Miami buildings against this record and most of them have lost ground since 2023. This one has gained it in every single year: $1,327, $1,424, $1,534, $1,566 per square foot — up 18.0%.

Note what the median price column does over the same stretch. It falls from $4,125,000 to $3,100,000 and then climbs back to $4,100,000, which if you read it alone would tell you the building crashed in 2024 and recovered. It did neither. The median home that sold in 2023 was 2,640 square feet; in 2024 it was 1,756. The price column is measuring which homes came to market. The per-foot column is measuring the market, and the per-foot column went up.

Four consecutive years moving the same direction matters more than the size of the move. A building that rises, falls and rises again is usually telling you about its sales mix. A building that climbs four years running, while comparable stock nearby declines, is telling you something about demand for that specific address.

What is actually inside the building

The county holds 166 folios at 2627 South Bayshore Drive, and every one of them is a residence — no commercial units, no separately assessed parking, cabana or storage. The common-element shares close at 100.0000%, so this is the entire condominium and nothing is missing from the figures on this page.

The mix runs to family-sized homes: 76 three-bedrooms, 64 two-bedrooms and 26 four-bedrooms, and no studios or one-bedrooms at all. The smallest residence is 1,595 square feet, the largest 7,061, and the median is 2,333.

Four floorplates carry most of the building: 2,640 square feet (48 homes), 1,756 (42), 1,595 (22) and 2,333 (22). That concentration is what lets this page compare like with like rather than average across a building that spans four and a half times in size.

The 2026 assessed values run $541,054 to $10,184,463, with a median of $2,039,816.

Liquidity is ordinary for a building of this kind: 33 qualified sales across four years, about one home in twenty each year. Enough to price against, not so much that the building turns over.

Where the gain is, and where it is not

The four-year rise is real, but it is not evenly spread, and if you are buying one specific home that distinction is the whole thing.

The 1,756 square foot plate is up 27.8% across the four years, on thirteen sales — the deepest like-for-like evidence in the building. The 2,640 square foot plate, which is the largest cohort at 48 homes, has gone $1,562, $1,570, $1,700, $1,553 — up and then back to roughly where it started, on nine sales.

So the honest version of “Grovenor House is up 18%” is this: the two-bedroom homes have risen strongly and the larger three-bedroom homes have been flat. Both of those are more useful to a buyer than the building average, and only one of them supports paying up.

The largest homes have their own record, and it is a good one. The same 6,920 square foot residence sold for $12,550,000 in June 2023 and again for $13,625,000 in January 2026 — the same home, up 8.6% in two and a half years, which is about as clean a round trip as the county record ever produces. A second 6,920 square foot home traded at $11,250,000 in April 2025.

One qualification on the recent figures. 2026 rests on five sales and 2025 on seven, so the last two rows of the main table are thinner than the first two. What keeps me comfortable presenting the trend is that it does not depend on them: strip 2026 out entirely and the building still went $1,327 to $1,424 to $1,534 across three well-populated years, a gain of 15.6% on 28 sales. The 2026 figure extends a pattern that was already established rather than creating one.

I should also say plainly what is not on this page. Building age, storey count, architect and amenity detail are not in the county record, and I have not filled them in from memory.

Who this building suits

It suits a buyer who wants a genuine two- or three-bedroom home on South Bayshore Drive and cares about buying into something with demonstrable demand. There is no small investor stock here to dilute the building — the smallest home is 1,595 square feet — and on four years of county evidence this is one of the few Coconut Grove addresses covered on this site where values have moved consistently upward.

It suits a bargain hunter poorly, and specifically so if you are looking at the two-bedroom plate. That is the part of the building that has already run, up 27.8% in four years, and you would be buying at the top of its own range. The better value on this record is the larger 2,640 square foot home, which is flat over the same period while the rest of the building rose — that is a gap worth asking about rather than assuming.

For an investor the picture is fair rather than exceptional. About one home in twenty trades each year, which is enough to exit without waiting but not enough to time. Combined with a rising per-foot trend, it is a reasonable pair of characteristics in a market where most buildings offer neither.

If you are selling here, you are in the rare position of having the trend on your side — but price against your own floorplate, not the building. A 1,756 square foot home and a 2,640 square foot home have been moving differently for three years, and a prepared buyer will arrive with the same county record I have used. Ask me for the comparables on your specific line before you set a number.

Interested in selling at Grovenor House?

Learn more about selling your condo at Grovenor House with Josh Stein.

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