One Park Grove is the tower that broke mainland Miami's price records, and it did it in Coconut Grove. The 23-story bayfront tower at 2811 S Bayshore Drive, completed in 2020 as the final phase of Terra and Related's Park Grove development, holds only about 66 to 90 residences at three per floor, each with 12-foot ceilings, private elevator access, and direct Biscayne Bay views. Resales at One Park Grove have repeatedly crossed $3,000 per square foot, a threshold no other mainland Miami condo had reached, with a standard residence closing at $3,850 per square foot in 2025. This is the Grove's trophy address, designed by OMA and Rem Koolhaas, finished by William Sofield, and landscaped by Enzo Enea.
One Park Grove Frequently Asked Questions
Why do the prices here lead the market?
Scarcity plus pedigree. Three residences per floor in a completed 2020 tower, architecture by Pritzker winner Rem Koolhaas's OMA, interiors by William Sofield, and a bayfront position inside five acres of private gardens. The 2024-2025 resales, including a $12.5 million closing at $3,850 per square foot, reset what mainland Miami buyers will pay.
What are the residences like?
Two to five-bedroom layouts from roughly 2,232 to over 4,500 square feet, with 12-foot floor-to-ceiling glass, oversized waterfront terraces, eat-in chef's kitchens with Wolf and Sub-Zero appliances, and private elevator lobbies. Most floors carry only three homes.
Who built and designed it?
Terra Group and the Related Group developed the tower, their first collaboration after buying the 5.2-acre site in 2013. Architecture is by OMA / Rem Koolhaas, interiors by William Sofield, and landscape architecture by Enzo Enea. The tower is LEED certified.
What amenities come with the tower?
The shared Park Grove program: 50,000-plus square feet of amenities across the community, including bayfront pools with cabanas, a signature spa, a 6,000-square-foot fitness center, indoor and outdoor yoga, a 28-seat screening room, wine storage, a children's playroom, a signature restaurant by Chef Michael Schwartz, 24-hour concierge and valet, and butler service.
Is there a rental market here?
Small but real at One Park Grove. The tower skews heavily owner-occupied, though leases do trade, with asking rents reaching into the tens of thousands per month for larger residences. This is an end-user building first; investors should underwrite accordingly.
What is the neighborhood setting?
The tower anchors the bayfront end of the Park Grove enclave on S Bayshore Drive, minutes from Dinner Key Marina and Monty's Raw Bar. The village center around CocoWalk and the bayfront lawns of Peacock Park are a short drive north.
One Park Grove Key Facts
- Address: 2811 S Bayshore Drive, Miami, FL 33133
- Neighborhood: Coconut Grove bayfront
- Stories: 20-23 (sources vary)
- Units: Approximately 66-90 residences, 3 per floor
- Layouts: 2 to 5 bedrooms, approx. 2,232-4,547 sq ft
- Completed: 2020
- Architecture: OMA / Rem Koolhaas
- Interiors: William Sofield; landscape by Enzo Enea
- Developers: Terra Group and the Related Group
- Certification: LEED
The $3,000-per-square-foot tower
The numbers are the story at One Park Grove. In 2024 and 2025, resales here crossed $3,000 per square foot not once but repeatedly, including a penthouse at $3,504 and a standard residence at $3,850 per square foot, a record for mainland Miami. No Brickell tower, no Edgewater tower, had done it. The buyers are not speculating; closings have been overwhelmingly end users taking large, finished homes in a completed building. That end-user depth is what separates One Park Grove from pre-construction hype elsewhere in the county.
The development backstory adds context. Terra and Related paid $55 million for the 5.2-acre site in 2013, financed construction through Bank OZK starting in 2018, delivered the tower in May 2020, and then paid off the $112 million construction loan as closings poured in, a run documented here: Terra and Related debut the One Park Grove tower. The record resale run is tracked here: One Park Grove redefines the market.
Three per floor, and the Koolhaas details
Three residences per floor with private elevators is the headline at One Park Grove, but the Koolhaas details carry the experience: 12-foot glass walls, terraces up to 1,000 square feet on some plans, and the staggered tower massing that keeps every residence on the water. William Sofield's interiors run warm modernist, stone and glass with Italian cabinetry, while Enzo Enea's five acres of gardens thread sculpture and native planting between the towers. Compare the full family on this site's Park Grove Tower 2 and Park Grove Tower 3 pages to calibrate what the premium buys.
The bayfront context is pure Grove. Dinner Key Marina sits minutes south for the boating set, Monty's Raw Bar pours at the dock, and the village around CocoWalk handles the rest of daily life. Buyers cross-shopping branded bayfront product should also see the Four Seasons Coconut Grove page and the Grove at Grand Bay page, the Bjarke Ingels-designed neighbor that proved the bayfront market before Park Grove arrived. Terra's broader design program is profiled here: Terra Group and David Martin.
