Optimum Group Hosts Groundbreaking Ceremony for “The Optimum,” Their New Coconut Grove Office Tower

Optimum Group, a global real estate investor and leading developer, hosted a formal groundbreaking ceremony and champagne reception to celebrate the construction commencement of The Optimum, a new class A office tower in Coconut Grove. Mayor Tomás Pedro Regalado spoke briefly on Coconut Grove’s rich history and Optimum’s commitment to enhance the neighborhood’s revitalization as well as company’s ongoing contribution to evolve South Florida communities and growing businesses.

“As the first new Class A office building in over 25 years that fulfills the much-needed commercial and retail component in ‎the center of one of Miami’s most historic community, ‘The Optimum’ is our response for those who are looking to live, work and play in the neighborhood,” said Ricardo Tabet, ceo of Optimum Group. “The space will not only complement The Groves’ lush landscaping and understated aesthetic, but will contribute to the neighborhood’s electrifying renaissance.”

The Optimum is a 5-story, class A office tower in the heart of the Grove. The Optimum is being designed by Arquitectonica, who took cues from Coconut Grove lush folliage including raking the buildings’ facades in natural cement and wood to blend seamlessly into Coconut Grove. The development will entail 44,000 SF of office space and 6,500 SF of ground floor restaurant space which is expected to feature a high-end restaurant along with a rooftop lounge that offers dramatic, panoramic views of Biscayne Bay. Optimum Development USA paid $8.5 million for the assemblage in 2014 and has since taken a $21.5 million loan on the property. The Optimum is located at 3480 Main Highway in Coconut Grove and is expected to be completed by 2018 with occupancy in just 16 months. 

Francisco Suarez, Ricardo Tabet, Mayor Tomas Regalado & Wilfredo Gort

Charles Khabouth, Danny Soberano, Francisco Suarez, Raquel Regalado, Wilfredo Gort, Ricardo Tabet, & Mayor Tomas Regalado

Ricardo Tabet

Francis Suarez, Raquel Regalado, Wilfredo Gort, Ricardo Tabet, Mayor Tomas Regalado, Anna Caruso, & Igor Jozsa

Construction Update: The Optimum, Coconut Grove's New Arquitectonica Designed Office Development Breaks Ground

Optimum Development USA celebrated the ground-breaking and start of construction of The Optimum, a 5-story, class A office tower in the heart of the Grove. The Optimum is being developed by Optimum Development USA, led by Ricardo Tabet, and was designed by Arquitectonica. The development will entail 44,000 SF of office space and 6,500 SF of ground floor restaurant space which is expected to feature a high-end restaurant along with a rooftop lounge that offers dramatic, panoramic views of Biscayne Bay. Optimum Development USA paid $8.5 million for the assemblage in 2014 and has since taken a $21.5 million loan on the property. The Optimum is located at 3480 Main Highway in Coconut Grove and is expected to be completed in 12 to 14 months. 

Sales Update: Terra’s Bayshore Grove Luxury Rental Tower in Coconut Grove is Now 80% Leased

Terra has announced that their 98-unit, Bayshore Grove luxury rental tower in Coconut Grove is now 80% leased. 6 months ago Terra completed a full-scale renovation of the 7-story building on South Bayshore Drive. Situated in the heart of Coconut Grove, just across from the Grove Key Marina, and walking distance to the waterfront, nearby parks, and the neighborhood’s growing collection of new restaurants, boutiques and nightlife venues. Bayshore Grove is capitalizing on the influx of new residents moving to the neighborhood, long known for its bohemian attitude and laid-back waterfront lifestyle. The property is attracting renters who work in Coconut Grove, Brickell, Downtown Miami and other adjacent neighborhoods.

“We’re seeing strong demand from local millennials – university students, young professionals, area employees – who can’t necessarily afford to buy a new luxury condo but still want to take advantage of everything Coconut Grove has to offer,” said David Martin, president of Terra. “Bayshore Grove’s tenants value the Grove’s live-work-play lifestyle; they want to ride their bike to work, walk to the grocery store, take the train to school or a meeting downtown, meet up with friends for dinner and drinks around the corner, enjoy a jog through the park. Everything they need on a daily basis is all within reach.”

Bayshore Grove features 16 different floor plans with monthly rates for one-bedroom units available from $1,950, and two-bedrooms starting at $2,950. Apartment features include hardwood-style flooring throughout; modern designer kitchens with granite countertops and stainless steel appliances; contemporary bathrooms with cantilever white vanities; impact widows and sliding glass doors; and large balconies featuring beautiful skyline and bay views. Amenities include a beautifully canopied deck with pool, cabanas, loungers, and grills; clubroom lounge area, state-of-the-art gym, bike storage, 24-hour full service concierge, outdoor yoga/flex space, covered parking, along with available valet dry cleaning and complimentary weekly laundry service for all units; wash, fold and delivery.