Friday, January 18, 2013

Dinner Key Marina – Coconut Grove’s Slice of History

Situated along Biscayne Bay in the heart of Miami’s historic Coconut Grove village is the famous Dinner Key Marina Complex.  The complex was originally an island and was later connected to the mainland in 1914 through the creation of a roadway.  Part of a historical section of Coconut Grove, Dinner Key is conveniently located next door to Coconut Grove City Hall which was once the Pan American Terminal in the early and mid-20th century.  

History of Dinner Key
Dinner Key, originally developed in 1917 as a US Naval Air Station, was the second largest naval air facility in the US and used to train sea plane pilots.  After WWI, Dinner Key was used primarily by commercial operators such as Pan American which used it as a base for their flying boats, the Clippers, during the 1930s and 1940s.  During WWII, it was reopened as a Naval Air Station until 1945.

Today, much of the history of Dinner Key remains. The park-like setting gives visitors, guests and residents the opportunity to enjoy the marina, areas around the Bay and the history of the Pan American building (City Hall).  Another great perks of Dinner Key is its close proximity to the shopping and dining in the historic and unique village of Coconut Grove. 
For many boaters and sailors, Dinner Key is a primary destination or stop along a route in order to spend time in Coconut Grove.  For others, buying Coconut real estate in close proximity allows boat and yacht owners to berth their vessels at Dinner Key.  

Dinner Key Marina Complex
The complex is comprised of a 582-slip marina and mooring facility.  The marina is Florida’s largest wet slip marine facility and features modernized mooring for many sizes of yachts and vessels.  There is also a mooring facility just off shore where high quality steel moorings provide additional space for boat and yacht owners who berth their vessels at the Marina on a long-term basis.

Dinner Key Marina’s dockage includes protected slips to seven-foot drafts and concrete docks with wooden finger piers.  The facility allows live-aboards as well as provides 24-hour staff and security, US Customs Clearing, fishing charters and so much more.  For those coming into port, there are laundry and shower facilities, pump-out and internet access.  In addition to being a popular stopping point, Dinner Key is also very popular with residents of Coconut Grove who keep their boats and yachts docked at the marina.

Real Estate around Dinner Key Marina
For many residents of Coconut Grove, living close to Dinner Key is a priority as it is where they maintain and keep their vessels when it is not out on the water.  Coconut Grove is a very popular part of Miami-Dade County for those who spend winters in the area or come to their vacation homes throughout the year.  In the immediate area, there are several luxury condominium communities that offer beautiful homes as well as excellent rental property for those interested in this type of investment in the area.  The following are the top luxury Coconut Grove condominiums located close to the Dinner Key Marina.

1. Grovenor House, 2627 South Bayshore Drive
List Prices: Upper $900s to over $14 Million

Built in 2006, this 32-story building houses 166 residences ranging in size from 1,595 square feet to about 9,000 for a penthouse residence.  The homes feature two to four bedrooms, state of the art gourmet kitchens, marble baths, expansive living areas, lovely terraces with amazing views and more.  Surrounding the building you will find tropical gardens as well as a gorgeous pool and sundeck with cabanas.  Amenities include a resort style spa and fitness center, full time concierge, valet parking, private elevator lobbies, a fenced dog park, touch panel concierge and more.  In 2012, 19 properties in Grovenor House sold at prices between $700K and almost $9 million.  The most affordable listing for sale at Grovenor House is a two bedroom and two bathroom unit with 1,595 sq. ft. priced at $990,000. Grovenor House is a preferred residence for buyers who live in Coconut Grove part of the year and enjoy spending time on the water primarily due to its close proximity to Dinner Key Marina.  There is one listing for rent at Grovenor House that includes three bedrooms and three bathrooms for $30,000 a month with 8,434 sq. ft.

2. Cloisters on the Bay, 3471 Main Highway
List Prices:  $1.8 Million to $2.2 Million

This gated community of Mediterranean style villas was built in 2004.  Each villa is three stories tall and has three or four bedrooms. Each features a roof top terrace with amazing views of Biscayne Bay and downtown Miami as well as a garage and walled garden.  In addition to being gated, amenities include a pool, tennis courts, 24-hour security and a secluded atmosphere with walls surrounding the entire enclave of homes.  In 2012 only one home sold at Cloisters on the Bay for just under $1.3 million.   It was on the market for only 103 days, which demonstrates the desire of many to live in this private paradise.  For anyone who enjoys boating or wants to live the ultimate level of luxury while being close to Dinner Key Marina, Cloisters on the Bay is a top pick.The most affordable unit for sale in Cloisters on the Bay is four bedroom and four bathroom priced at $1.8 million with 6,140 sq. ft. There are currently no units for rent at Cloisters on the Bay.

3. Ritz Carlton Coconut Grove, 3350, 3400 SW 27th Ave 
List Prices: Mid-$400s - $3.6 Million

Located just a block away from Dinner Key Marina, the Ritz Carlton Coconut Grove is comprised of two luxury towers with a combined total of only 215 residences.  This boutique condominium building is unlike what the Ritz Carlton is typically known for.  Inside each residence, there are floor to ceiling windows that play host to the most amazing views of Biscayne Bay. All units include gourmet kitchens with European cabinetry, and stainless steel appliances as well as marble master baths.  A one bedroom and one bathroom is for sale at the Ritz Carlton in Coconut Grove for $400,000 with 959 sq. ft. There are currently 18 active listings at the Ritz and seven active rentals available that have monthly payments between $2,700 and $14,000.  In 2012, 23 properties sold with prices between the upper-$200s and $2.2 million. The most affordable listing for rent at the Ritz Carlton in Coconut Grove is $2,700 a month for 959 sq. ft that includes one bedroom and one bathroom.

4. Mutiny Park Condominium, 2889 McFarlane Road
List Prices: Upper-100s - $1.7 Million 

Mutiny Park is a 22-story building that was built in 2001.  The 211 residences in the beautifully range in options from studios to four bedrooms. Many of the units include updated kitchens with stainless steel appliances, beautiful terraces that offer unbelievable views of the Bay, Miami and Coconut Grove.  Other common amenities include a pool and spa, a fitness facility and secure entrance with concierge. In 2012, 11 units sold between the mid-$100s and the upper-$600s. Units for sale in Mutiny Park range in price from $179,000 to $1.7 million. These units include anywhere from one bedroom and one bathroom to three bedrooms and three bathrooms. There are currently seven units for rent in Mutiny Park ranging from $1,500 to $7,000 a month.

Many Opportunities to Own Coconut Grove Real Estate
After spending just one afternoon close to the waterfront in Coconut Grove, it is easy to see why people love the area.  There are many opportunities to own Coconut Grove real estate that are close to Dinner Key Marina.  For anyone who has a passion for boating and enjoys spending lots of time on the water, these condominium properties are ideal locations considering their proximity to the marina area.  

1 comment:

  1. I must really commend you for your well written post on real estate. The article encompasses all the details that one would look for in a real estate related article. Keep doing the good work because one would really love to read more from you.


Copyright 2012 Gables Riches. All rights reserved. 1800 SW 1st Avenue. Suite 504. Miami, FL. 33129. Tel (786) 344-4669. Fax (786) 533-3921