Looks like the big push is on to sell everything under the sun in Coconut Grove, lets get the media to whip up a frenzy over the neighborhood, because Terra Group and Perez both have two really big expensive projects that are coming to market and real estate in South Florida is already softening. The easy money boom and the Wall Street money machine, is losing steam, China is crapping out so is Russia and South America, pretty much everywhere actually. The article, written by Stefanos Chen starts off,
“Miami’s Coconut Grove Grows from Birkenstocks to Billionaires: After years of losing luxury buyers and developers to South Beach and Downtown, the Miami enclave is attracting record-setting condo projects”
The gist of thing is sort of the usual, a supposedly sneak peek at the hottest new neighborhood in Miami, where condo prices are skyrocketing and capturing high prices pre square foot. The article has the feel of a Donald Trump styled carnival barker sales pitch, “Prices are through the roof, better act now before they go higher.” – wait a second, if prices are through the roof and the economy is crapping out then why would I… of never mind.
So it seems that the developers of Miami and elsewhere are now setting their vampiric sights on the lovely little village of Coconut Grove, because they haven’t made enough of a mess of South Beach and downtown Miami.
One of the characters in the piece is a local resident Ms Dufay who has listed her home for $3.8 million and the article goes on to mention that homes like hers are being torn down to put up condos and giant bigger better things, but if you recognize Ms Dufay’s house she lives in Estrada Estates, where they will hopefully with any luck never be able to tear down the homes and build condos, its a very very residential gated enclave, its about 6 inches above high tide and uggg… the never ending pump machine for Miami Real Estate. By the way, Ms Dufay is neighbors with the De Garmo house that got stripped bare of all its personality and soul.