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5 Grove Isle Drive

Michael Light & Jaimee Light Of The Light Group Sell Condo In Miami For $9.4M
SOLDCondo

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

Jaimee Light

Douglas Elliman

Broker

$54.6M

vol

4 deals

Broker

Miami Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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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