Constellation Group and Ironwood Venture Group have completed SeaGlass Cove, a 14-residence oceanfront community in Marathon, and the closing of an $8.46 million permanent loan from Centennial Bank. The financing replaces the project’s construction loan and marks SeaGlass Cove’s transition from development to a fully completed, move-in-ready residential community. With seven residences sold and seven remaining, the project is now 50% sold.
Set along the Atlantic Ocean, SeaGlass Cove features 14 three-story residences offering more than 4,800 square feet of indoor-outdoor living space with sweeping water views. Four- and five-bedroom floor plans include expansive great rooms, chef’s kitchens, spa-inspired bathrooms, generous owner and guest suites, private cabanas, covered terraces and two-car garages. Thoughtfully landscaped grounds connect the residences to a private white-sand beach, resort-style pool and community pickleball court.
Seven move-in-ready residences remain available for sale, including four turnkey furnished homes, one of which was professionally designed by award-winning luxury interior design firm Interiors by Steven G. Prices begin at $3 million.
The furnished residences allow buyers to begin enjoying the community immediately, while the ability to rent on a weekly basis provides additional flexibility for owners when they are not in residence.
“Now that SeaGlass Cove is complete, buyers and brokers can experience the full ‘barefoot-luxury’ vision firsthand—from the architecture, interiors and landscaping to the beach and waterfront amenities,” said Eduardo Otaola, Managing Principal of Constellation Group. “The response from those touring the finished community has been exceptional. With half of the residences sold, several turnkey homes available and the flexibility of weekly rentals, SeaGlass Cove offers a rare combination of immediate enjoyment, elevated design and ownership flexibility in the Florida Keys.”
The $8.46 million permanent financing from Centennial Bank closed following completion of construction and replaced the project’s construction financing. The transaction reflects SeaGlass Cove’s progression from active development to a completed residential community and provides a long-term financing structure as the project enters its next phase of sales and operations.
“SeaGlass Cove is a distinctive, well-executed development supported by experienced sponsors and the continued strength of the luxury residential market in the Florida Keys,” said David Druey, Regional President of Centennial Bank. “We are pleased to provide permanent financing and support Constellation Group as the completed community enters its next chapter.”
The residences pair Stone International cabinetry and KitchenAid appliances with spacious, functional layouts designed for effortless indoor-outdoor living. Expansive great rooms open to covered terraces, while private cabanas and outdoor living areas overlook the water. The architecture, interiors, landscaping and material palette have been carefully coordinated to create a cohesive resort-residential experience throughout the community.Located in the heart of the Florida Keys, residents enjoy access to a private white-sand beach, resort-style pool, pickleball court and a wide range of nearby boating, fishing, paddleboarding, snorkeling and other water activities.
SeaGlass Cove is located near Hawks Cay Resort and Marina, Coffins Patch Reef—known for its coral formations and lobstering—and The Lagoon, a popular destination for wakeboarding and other water-based recreation. Nearby marinas, restaurants, shops and natural beaches further enhance the relaxed, waterfront Florida Keys lifestyle.SeaGlass Cove is approximately 20 minutes south of Islamorada and offers convenient access to the Florida Keys/Marathon International Airport and the Overseas Highway, connecting residents to destinations throughout the entire Florida Keys.
SeaGlass Cove is located at 59720 Overseas Highway, Marathon, FL 33050.
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Constellation Group and Ironwood Venture Group have completed SeaGlass Cove, a 14-residence oceanfront community in Marathon, and the closing of an $8.46 million permanent loan from Centennial Bank. The financing replaces the project’s construction loan and marks SeaGlass Cove’s transition from development to a fully completed, move-in-ready residential community. With seven residences sold and seven remaining, the project is now 50% sold.