Berkadia Arranges $62.3M Sale of Office Property in Coconut Grove, Florida
Miami, Florida – August 18, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announces that it has arranged the sale of The Grove at 3250 Mary, an office building occupying a 1.34-acre site in the heart of Coconut Grove, one of South Florida’s most affluent neighborhoods. Mary Street 3250 LLC acquired the property for $62.3 million.
Senior Director Omar Morales and Senior Managing Director Jaret Turkell of Berkadia South Florida represented the sellers, Azora Private Solutions and Vizcaya Capital, in the transaction.
“Coconut Grove continues to distinguish itself as one of South Florida’s strongest real estate markets, driven by exceptional demand from luxury residential buyers and high-net-worth office users,” said Morales. “That demand, combined with limited supply, continues to attract remarkable investment to the neighborhood.”
Located at the highly visible intersection of Mary Street, Tigertail Avenue and Oak Avenue, The Grove at 3250 Mary was built in 1982 and contains an 80,000-square-foot, 5-story office building.
The site is surrounded by some of South Florida’s most prestigious luxury residential communities, including Four Seasons Residences Coconut Grove, Mr. C Residences Coconut Grove, Park Grove and The Well Coconut Grove, and is less than five minutes from CocoWalk’s premier shopping, dining and entertainment district. The neighborhood continues to command some of the highest condominium pricing in South Florida, driven by its walkability, waterfront setting, mature tree canopy and limited supply of new development sites.
Firm Linked to Developer Buys Coconut Grove Office for $62M | South Florida Business Journal
Firm linked to developer buys Coconut Grove office for $62M | South Florida Business Journal
Coconut Grove Office Flipped For $15M Gain After One Year | Bisnow
El-Ad National Buys Miami Office Asset for $62M | Commercial Property Executive