Constellation Group, the Miami-based commercial real estate investment and development firm, and Ironwood Venture Group, a real estate development firm, have sold over $21 million combined of the residences at SeaGlass Cove, a new lush, private enclave consisting of just 14 single-family homes in Marathon, Fla., in the heart of the Florida Keys. Buyers have been a mix of end users intending to reside at the community, and investors seeking passive income through short term rentals. The first three homes of the oceanfront development, where residences start at in the low $3 million range, are slated for completion in March 2024.
"The extraordinary sales success is a testament to the rising demand for new construction oceanfront properties, especially those allowing weekly rentals, as well as SeaGlass Cove’s design and appealing architecture emphasizing, intimacy, exclusivity, and the laid-back luxury lifestyle that celebrates the best of the Florida Keys,” said Eduardo Otaola, Principal at Constellation Group. “It’s a highly unique blend of barefoot luxury meets carefree oceanfront living.”
Located at 59720 Overseas Highway in Grassy Key, SeaGlass Cove’s residences are nestled amongst colorful coves and turquoise waters in a private gated community. Comprised of approximately 5,000 square feet of living and entertainment space, each three-story residence offers stunning views of the Atlantic Ocean, as well as chef’s kitchens and spa baths that will be luxuriously appointed with designer finishes and appliances. Additional highlights include rare two-car garages, private covered cabanas, fire pits, and summer kitchens replete with beach access.
“New construction luxury oceanfront residences in the heart of the Florida Keys are a true rarity given the difficult entitlement landscape and the strict building codes that these homes have to adhere to,” said Everett Atwell, Managing Director of Ironwood Venture Group. “Our buyers understand the unprecedented appeal and value proposition this project offers, especially when considering the short-term rental component that allows for passive income.”
The oceanfront enclave features a myriad of resort-style amenities, including a pool overlooking the ocean, a private on-site pickleball court, and activities that include paddleboarding, swimming, fishing, snorkeling, biking, and much more from the property’s private beach. SeaGlass Cove is minutes from fine dining, shopping, spas, marinas, and much more.
The property is 20 minutes South of Islamorada, is close to Florida Keys/Marathon International Airport, and offers convenient access to Overseas Highway, which spans the entire chain of the Keys, and over the Atlantic Ocean, Florida Bay, and the Gulf of Mexico.
