Saturday, March 16, 2013

Mutiny Park -- Coconut Grove

Mutiny Park is a beautiful condominium in Coconut Grove that was built in 2001. With 22 stories and 211 condominium residences, Mutiny Park lends itself more as a boutique Coconut Grove condominium because of its warm and inviting atmosphere.  Its setting in Coconut Grove only adds to the ambiance of living at Mutiny Park. 

Developed by the Flagler Group, which also developed the Meridian in South Beach, Mutiny Park was built in conjunction with the Sonesta Hotel as one of the area’s first condo-hotel projects in Miami-Dade County.  In a 2001 Miami Today article, Ricardo Dunin, President of the Flagler Group, stated that "condo-hotels such as Mutiny Park are in great demand among South Americans and Europeans who travel here frequently."  The success of this initial project by the Flagler Group was evident before construction was completed when about 65 percent of the units were sold at top off.  

Located at 2889 McFarlane Road, in the heart of Coconut Grove, Mutiny Park is situated in an ideal location within walking distance to Dinner Key Marina, Coco Walk and all that Coconut Grove has to offer.  Coconut Grove real estate appeals to many area celebrities and professional athletes as it is an exclusive part of Miami-Dade County that offers residents a quaint atmosphere and lots of privacy.   As a village within the city of Coral Gables, it is a top destination for anyone living or visiting in the area.

Homeowners at Mutiny Park enjoy the use of the Sonesta Hotel’s amenities that include a resort-style swimming pool and luxurious pool deck on the 8th floor, a fully equipped, state of the art fitness center located on the top floor that offers the most amazing views from the floor to ceiling windows, 24-hour security and concierge as well as valet parking and a 24-hour, self-service business center.  Other amenities include assigned parking associated with the owners’ units, free shuttle service to the sister property, Sonesta Beach Resort at Key Biscayne, and the most amazing Bay and city views.  High-end retail shops and excellent restaurants on the ground level of the property add to the convenience of living at Mutiny Park.  Amenities in each residence include large balconies, walk-in closets, well-appointed details, and updated kitchens with stainless steel appliances and granite counter tops.  And, best of all, Mutiny Park allows owners and guests to have their beloved pets in the residences.

Real Estate Information
Mutiny Park is most attractive to those who have retired to sunny Florida as well as part-time residents and investors and features one to four bedroom units of which many are turn-key furnished.  Sizes of the units range from 365 square feet to 2,358 square feet.   List prices range from the upper-$100s to about $1.7 million.  Recent sales indicate that five units have sold since January 2013 with sale prices ranging from the mid-$200s to almost $900K while 11 units sold in 2012 between the mid-$100s to over $600K.  

An ideal investment for part-time residents and investors, owning at Mutiny Park affords owners the ability to place their units into the hotel’s rental pool which are very popular with visitors who spend winters in Florida.   Mutiny Park rentals typically have monthly rates between just under $2,000 for a studio and about $7,000 for an upper floor, three-bedroom unit.  Rental rates vary depending on the size and location of the unit.

An Excellent Investment
The location, quality and amenities alone make Mutiny Park an excellent investment in Coconut Grove real estate.  When adding the advantage of using Sonesta Hotel’s rental program and its management services, the investment is even more enhanced.  Coconut Grove is an exclusive area in Miami-Dade in which many enjoy spending time.  Mutiny Park enhances the experience with everything in and around the property.  

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