Urbin Coconut Grove

What Was Planned at Urbin Coconut Grove

Urbin Coconut Grove was announced as a mixed-use, 54-residence project at 3162 Commodore Plaza, two blocks from CocoWalk in the heart of Coconut Grove. Developer Location Ventures broke ground on 25 January 2023 with Miami Mayor Francis Suarez and then-City Commissioner Ken Russell attending the ceremony (Florida YIMBY, 31 Jan 2023). The architecture was credited jointly to Arquitectonica and Paredes Architects, with interiors by am studio and general contracting by Winmar Construction Inc. Sales were originally handled by ONE Sotheby’s International Realty, and Florida YIMBY reported the building already 90 percent sold at groundbreaking.

The building was planned across an unusually wide range of unit types: 54 residences running from 331-square-foot studios to 2,352-square-foot six-bedroom homes, marketed designer-finished and furnished under Location Ventures’ Urbin brand — flexible short- or long-term-rental residences combined with coworking space (URBIN Work), wellness programming, food and beverage and ground-floor retail. All of the above describes the plan as marketed at groundbreaking in January 2023. It does not describe the building today — read on.

The Site Was Already a Condominium — Here Is What the County Shows

3162 Commodore Plaza is not raw land. The Miami-Dade Property Appraiser carries the address under 48 separate folios, all recorded under a single declaration, COMMODORE CENTRE CONDO. Two folios checked in detail (01-4121-131-0010 and -0020) are classified STORE: CONDOMINIUM – COMMERCIAL, sized 1,341 and 1,052 square feet, with 2026 assessed values of $526,610 and $413,120 respectively. Both carry a recorded sale dated 1 March 2016 at $1,500,000, flagged by the county as a multi-parcel transaction on a single deed of sale — consistent with an investor or developer assembling multiple commercial units in one transaction nearly seven years before Urbin’s groundbreaking. This detail is unchanged by anything below: whatever happens to the Urbin project, the underlying 48-folio commercial condominium declaration is the recorded structure of the site.

The Federal Case This Project Is Now Inside

Location Ventures and its CEO became the subject of an SEC civil action — the SEC receivership case, Case No. 23-24903-CIV-JB, U.S. District Court, Southern District of Florida — with the court appointing Bernice C. Lee as receiver over 20 named Location Ventures entities. URBIN Coconut Grove Partners LLC is one of them, named directly, alongside sister entities for Urbin’s Miami Beach and Coral Gables projects and the Villa Valencia development in Coral Gables. A permanent injunction was entered against the company’s CEO on 20 November 2024. The CEO resigned from Location Ventures in July 2023, and the firm announced it would liquidate assets to pay creditors.

The civil case was followed by a criminal one. The Real Deal reported on 14 May 2026 that the company’s CEO pleaded guilty to money laundering and payroll tax conspiracy charges, in a case federal prosecutors describe as an $85 million fraud scheme — the CEO admitted misappropriating investor funds across the company’s failed real estate projects and, specifically, unlawfully using $10.6 million in deposits from preconstruction condo buyers. Sentencing is scheduled for August 2026, with reporting indicating a sentence of at least 10 years in prison. Separately, on 20 July 2026, The Real Deal reported that buyers at the company’s projects — 38 of them at the sister Urbin Miami Beach project specifically — were approved to recover a partial share of lost deposits from a receivership fund distribution. This research did not find a parallel, project-specific deposit-recovery figure reported for Urbin Coconut Grove buyers by name; if a reader holds a contract or deposit here, the receivership docket is the accurate place to check, not this page.

What the Receiver’s Own Report Says About the Building Today

A status report filed by the Receiver on 10 September 2025, in the same federal receivership case, describes the building’s current physical condition directly. Quoted verbatim: “The residential units of 3162 Commodore Plaza occupy the fourth through sixth floors and these floors have been gutted.” And: “Construction ceased in the summer of 2023. Plywood is used to cover the window openings, and flooring and tiles have been removed.” That is a materially different condition from “under construction” or “paused” — it describes work that had been done being stripped out, not work waiting to resume.

The same report states that Urbin Coconut Grove Partners LLC holds the property through four subsidiary entities — Urbin Commodore Residential SPE LLC (the 3162 Commodore Plaza residential units), Urbin Commodore Residential II SPE LLC (3170 Commodore Plaza), Urbin Commodore SPE LLC (3138 Commodore Plaza, a leasehold interest), and Urbin Commodore Restaurant SPE LLC (3120 Commodore Plaza, a leasehold interest) — which resolves an otherwise-confusing detail in older press coverage: a separate 2023 report of investor allegations tied to “3138 Commodore Plaza” was not a different project, but a different address within this same assemblage. The Receiver is seeking court approval to sell the Commodore Properties for $28.2 million. The report also states the City of Miami’s Unsafe Structure Panel has cited structural violations at the property, that substantial remediation is required, and that the Commodore Companies lack the funds for construction, condominium-association fees, or ordinary maintenance.

Who Should — and Should Not — Consider This Building Today

As of this research, Urbin Coconut Grove is not a pre-construction purchase decision at all — it is a distressed asset in a federal receivership, cited for unsafe-structure violations, that the Receiver is actively trying to sell. No pricing, unit-availability, or completion-date information from the original 2023 marketing campaign describes the building’s current state, and none should be relied on. Anyone with an existing contract, reservation or deposit tied to this project should direct questions to the court-appointed receiver, Bernice C. Lee, through the SEC receivership case docket (Case No. 23-24903-CIV-JB, S.D. Fla.) rather than to Location Ventures, ONE Sotheby’s, or any other party associated with the original sales program. For a buyer simply researching Coconut Grove new construction broadly: this specific address is not a live opportunity today under its current ownership, whatever a future buyer of the distressed asset eventually does with the site.

Questions about Urbin Coconut Grove?

Ask Josh Stein about the building’s history, the land record, or the receivership.

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