OPUS Coconut Grove Breaks Ground as Boutique Luxury Demand Grows in Miami
- Apr 7
- 2 min read
META Development has broken ground on OPUS Coconut Grove, a boutique residential project in one of Miami’s oldest neighborhoods, following the closing of a $28 million construction loan from Arixa Capital.
The project is now under vertical construction, with completion expected in 2027, and is already more than 50% sold. Sales and marketing are being handled by The Nicolas Group at SERHANT.
OPUS Coconut Grove reflects a broader shift in Miami’s real estate market toward smaller, design-focused developments. Buyers are increasingly seeking privacy and livable space over larger high-rise buildings.
“Breaking ground on OPUS is a meaningful milestone for our team and a reflection of where the market is heading,” said Andrew Rasken, CEO of META Development. “Buyers are becoming increasingly discerning, prioritizing design, scale, and privacy over sheer volume.”
Located in Coconut Grove, the development will include 12 residences and two penthouses. Units will start at approximately 1,900 square feet, with layouts designed to integrate indoor and outdoor living through large terraces.
The building is designed by Kobi Karp, with interiors by João Armentano. Plans emphasize functional living and a connection to the surrounding neighborhood.
Amenities include a rooftop pool, sun deck, fitness center, and spa facilities. Additional features include private workspaces, a children’s playroom, and indoor and outdoor lounges. The property will also include an automated parking system with electric vehicle charging.
Ale Alfonzo of The Nicolas Group at SERHANT. said demand has been driven by buyers seeking privacy, scale, and a more considered alternative to traditional high-rise living.
“Coconut Grove has always attracted buyers who value character, authenticity, and a more residential way of living,” Alfonzo said. “OPUS builds on that foundation, offering the scale and comfort of a single-family home within a boutique building.”
Prices for residences start at approximately $3 million. The project marks META Development’s first Miami property to enter construction, with additional developments planned across the city, including Colette Residences in South Brickell.