Michael Light & Jaimee Light Of The Light Group Sell Condo In Miami For $9.4M
5 Grove Isle Drive
$9,400,000
$2,407/SF
Building Size
3,904 SF
Asset Type
Condo
Closing
Mar 26, 2026
AI
The property asset involved in this transaction is a condo located at 5 Grove Isle Drive M401 in Miami, priced at $9,400,000. The condo spans 3,904 square feet and has a price per square foot of $2,407. Completed in 2026, this residence features unobstructed Biscayne Bay views and is designed for seamless indoor-outdoor living with over 1,100 square feet of terraces.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $9,400,000
- Square Footage: 3,904
- Price Per Square Foot: $2,407
- Address: 5 Grove Isle Drive M401
- Market: Miami
- Brokers: Michael Light & Jaimee Light - The Light Group - Douglas Elliman
This transaction involved Michael Light and Jaimee Light from The Light Group representing the property. Notably, the residence includes a private elevator, a Molteni&C kitchen with Miele appliances, and a Crestron smart home system. Vita at Grove Isle Mare 401 was purchased as an investment and is currently listed for lease at $50,000 per month.
Players
Miami Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.69%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93