flag image for enEN
CallEmail
Elizabeth Luques Logo
Meta Development launches sales for boutique Coconut Grove condos
avatar undefined
Elizabeth Luques
·2 min read

Prices at six-story, 14-unit project start at $2.5M

Lucid Investment Group's Andrew Rasken with rendering of Opus Coconut Grove (LinkedIn, Neorama, Getty)Aug 22, 2024, 10:30 AMBy 

    Meta Development launched sales for a boutique Kobi Karp-designed condo project in Coconut Grove, with prices starting at $2.5 million. 

    Meta, a joint venture between Miami-based Lucid Investment Group and Brazil’s Iron Capital, is planning Opus Coconut Grove for the site at 3137 Southwest 27th Avenue, according to a press release. The planned six-story building will have 14 units, and is slated to be completed in 2026, the release shows. 

    Rendering of Opus Coconut Grove (Neorama, Getty)

    Condos at Opus will range from 1,900 square feet to 2,600 square feet, with three or four bedrooms. Amenities in the building will include spa facilities, a rooftop pool and bar, a business lounge, children’s playroom and private wine cellars, the release shows. 

    Karp is the architect, and João Armentano is handling interior design.  Christopher Wands and Sari Libbin Shapiro of Douglas Elliman are leading sales and marketing for the project. 

    Rendering of Opus Coconut Grove (Neorama, Getty)

    Iron Capital is based in São Paulo, and has real estate investment, lending and venture capital operations, according to its website. Lucid, led by President Andrew Rasken, has partnered with other Latin American firms on development projects. In 2022, Lucid entered a joint venture with two Mexican firms to plan a 39-story Brickell apartment tower.  

    Demand for luxury condos in Coconut Grove has boomed in the wake of South Florida’s pandemic-fueled real estate boom. David Martin’s Terra completed Mr. C Residences in Coconut Grove last month, a 20-story, 230-unit condo development that launched in 2020. The project is expected to reach a sellout of more than $500 million. 

    Other condo projects in the works in Coconut Grove include Ugo Colombo’s CMC Group and Nadim Ashi’s Fort Partners’ planned Four Seasons-branded tower. Sales have already begun for the project, which will span 20 stories with 70 units.

    The Real Deal/by Kate Hinsche