META Development breaks ground on OPUS Coconut Grove with $28M loan and $3M units

• META Development launches 14-unit luxury condo project in Coconut Grove
• Backed by a $28 million construction loan and already 50% sold
• Units start near $2.8M, targeting low-density luxury buyers

What META Development is building in Coconut Grove

META Development has officially broken ground on OPUS Coconut Grove, a boutique six-story condominium project at 3137 SW 27th Avenue. The development marks the firm’s first Miami project to enter vertical construction, signaling its expansion into one of the city’s most competitive luxury submarkets. The project will deliver just 14 residences, positioning itself as a low-density alternative to larger condo developments that dominate the Miami pipeline.

What the boutique scale means for pricing power

OPUS Coconut Grove is designed around larger-format residences, with units starting at roughly 1,900 square feet and offering three- and four-bedroom layouts. Pricing begins between $2.8 million and $3 million, targeting high-end buyers seeking space and privacy.

“Breaking ground on OPUS is a meaningful milestone for our team and a reflection of where the market is heading,” said Andrew Rasken. “There is a growing shift toward residences that feel more personal, more intentional, and more connected to their surroundings.”

This approach reflects a broader trend in Miami luxury real estate, where demand is shifting toward boutique, design-forward properties with lower unit counts and higher price points.

How design and amenities support luxury positioning

The project is designed by Kobi Karp, with interiors by João Armentano, emphasizing a tropical-modern aesthetic tailored to Coconut Grove’s identity. Amenities include a rooftop pool, a 4,300-square-foot sundeck, fitness and spa facilities, and private business suites. The development will also feature an automated parking system, EV charging, and up to three parking spaces per residence, aligning with luxury buyer expectations. Large terraces and indoor-outdoor layouts further reinforce the project’s focus on lifestyle-driven design, a key differentiator in Miami’s high-end condo market.

What sales momentum and financing signal

The project is already more than 50 percent sold ahead of full construction, supported by a $28 million loan from Arixa Capital. Early sales traction at this price point indicates continued strength in the Coconut Grove luxury segment.

“Coconut Grove has always attracted buyers who value character, authenticity, and a more residential way of living,” said Ale Alfonzo of The Nicolas Group. “OPUS builds on that foundation, offering the scale and comfort of a single-family home within a boutique building.”

Completion is expected in 2027, giving the project a clear timeline to capitalize on sustained demand from both domestic and international buyers.

What this means for Miami condo investors

OPUS Coconut Grove highlights a shift in development strategy across Miami, where smaller, high-end projects are gaining traction alongside large-scale towers. By focusing on exclusivity, design, and larger unit sizes, developers like META are targeting a more discerning buyer pool willing to pay a premium for privacy and quality. For investors and developers, the takeaway is clear. Boutique luxury is becoming a major lane in Miami’s condo market, offering strong pricing power and differentiated product in an increasingly crowded landscape