Vita at Grove Isle Delivers 65 Island Condos in Coconut Grove

Vita at Grove Isle, Ugo Colombo's 65-residence condominium on Coconut Grove's private Grove Isle, was completed in December 2025. Florida YIMBY called it the only new luxury condo to deliver in Coconut Grove that year, and the first closing numbers show where it sits in the market. Units have closed at a median of $2,479 per square foot, close to three times the neighborhood median.

What was delivered

Vita At Grove Isle has three interconnected seven-story buildings, named Mare, Luce and Sole, on a 20-acre island in Biscayne Bay that is reached by a single bridge. The details below were reported by Florida YIMBY and Million Luxury:

• Residences: 65 in total, including 12 two-story penthouses.
• Developer and financing: CMC Group, which financed construction with a $239 million Bank OZK loan in January 2024.
• Restaurant: La Sponda, a waterfront Italian restaurant by Gioia Hospitality Group. It opened in September 2026, Hoodline and Haute Living reported.

The address is 4 Grove Isle Drive.

What the market says ten months later

Over the 12 months to October 2026, five Vita units closed through the MLS at a median of $2,479 per square foot. The 14 units listed now ask a median of $9.2 million, or $2,614 per square foot. That makes Vita the highest-ranked of the 46 Coconut Grove buildings on our Condo Index, which compares each building's price per square foot with the neighborhood.

The island's older tower is a useful contrast. Grove Isle, built in 1981 with 167 units, sold 17 units in the same period at a median of $842 per square foot. For buyers who want the island address, it is the lower-cost route, but it carries open items. City of Miami records list its 2021 recertification as not yet approved. Our Financeability Index for it is 44 (limited): only about 10 percent of its recent sales were financed.

Across Coconut Grove, 236 condos sold in the past year at a median of $865 per square foot. With 176 listings, that is about nine months of supply. Our Market Index reads 40, the low end of a balanced market.

Why it matters

For buyers comparing the two island buildings, the price gap is mostly about age, not location. A new building has no recertification to do for decades, while an older one can bring repair bills. Ask the Grove Isle association for the status of its recertification and any related assessments before making an offer.

For Vita buyers, five closings is a thin sample. With 14 units listed against five sales in a year, about 34 months of supply at the recent pace, buyers have time to negotiate.