Coconut Grove has precisely one bayfront development site that can support a tower of meaningful scale and contemporary design ambition. That site — 2699 S. Bayshore Drive, home to the Four Seasons Private Residences Coconut Grove — is not a hypothetical. It is a 20-story, 70-unit project by CMC Group and Fort Partners, designed by Arquitectonica, designated Ultra Luxury in this report, and priced at $2,500/sqft average with a Q1 2028 completion. The question for buyers is not whether this is desirable product. It is whether the remaining 50% absorption window stays open long enough for a considered decision.
Key market shifts
The Four Seasons model — an operator whose residential management standards are among the most exacting in the global hospitality industry — provides both a quality guarantee and a service infrastructure that justifies its premium over competing Coconut Grove product. At $6M entry for a 2-bedroom (999 sqft–4,100 sqft range), buyers are paying for irreplaceable site positioning, Four Seasons operational certainty, and bayfront views that will exist long after every design trend has cycled through.
The competitive context is clarifying: Vita Residences at Grove Isle — the only other bayfront ultra luxury offering in Coconut Grove — starts at $6.5M for a 3-bedroom and carries no rental restrictions. For buyers who need the operational flexibility of no-restriction rental alongside bayfront Coconut Grove positioning, Vita (now near or at completion) is the answer. For buyers who prioritize the Four Seasons service model, the CMC project is the answer. There is room for exactly one of these positions in most buyers' portfolios.
Buyer and investor implications
CMC Group — the developer behind Palazzo del Lago, Vita at Grove Isle, and the Grove at Grand Bay — carries one of the most credible track records in South Florida luxury development. A developer-track-record premium is real and defensible. Buyers who have followed CMC's prior projects know that the commitment to quality survives the development process.
Strategic takeaway
When a single site of irreplaceable character — bayfront, Coconut Grove, Four Seasons brand, CMC execution — is offered at 50% remaining inventory, the window for considered decision-making is measured in quarters, not years. The opportunity cost of waiting is compounded by the opportunity cost of missing it entirely.
The Worth Group offers priority access and private previews for the Four Seasons Coconut Grove and all active CMC Group projects in Miami-Dade.
Contact The Worth Group at 561-639-2149 or [email protected]
