Eight stories on half an acre
The Lincoln Coconut Grove broke ground in June 2026 at 3151 SW 27th Avenue. The project carries 48 condominiums across eight stories on a 0.5-acre parcel. Completion is targeted for the third quarter of 2028, and the street address changes to 2650 Lincoln Avenue on completion.
Three hotels inside 300 metres
Eight hotels sit within 1,000 metres of the parcel. The distances below are straight-line from 3151 SW 27th Avenue, read off OpenStreetMap coordinates on 7 November 2026.
- Courtyard Miami Coconut Grove: 197 metres
- The Ritz-Carlton Coconut Grove: 232 metres
- Residence Inn Miami Coconut Grove: 263 metres
- Mayfair House Hotel and Garden: 578 metres
- The Mutiny Hotel: 673 metres
- Hotel Arya: 705 metres
- Mr. C Miami: 785 metres
- Commodore Inn the Grove: 975 metres
The building's 48 households sit inside 300 metres of three hotels.
What the delivery adds
Sales launched in January 2025. Nineteen of the 48 homes were under contract when construction started, per Florida YIMBY, which puts presale at 40 percent. Entry pricing sits at $1.5 million.
The official site sells walkability to restaurants, marinas and parks and lists 19 amenities. The site's own disclaimer qualifies that list. Services and amenities may be part of a privately owned commercial component of the project, access may be limited, and additional fees may apply.
The money
Berkadia arranged a $58 million senior construction loan from SME Capital in September 2026. The term runs 30 months and carries two six-month extension options. The loan measures $1.21 million for each of the 48 homes.
The developers bought the 0.5-acre site for $8.6 million in 2023, per property records cited by Commercial Observer. Florida YIMBY prints $8.56 million and measures the parcel at 20,970 square feet, which gives 437 square feet of land for each residence and $178,333 of land cost per home. The selling entity on the official site is 3151 SW 27Ave PropCo LLC, a Florida limited liability company.
A 30-month term from September 2026 reaches March 2029. The Q3 2028 target sits 24 months into that term, which leaves six months of runway after the stated delivery.
The operator read
Four Coconut Grove residence projects sit inside half a mile of the parcel. OPUS stands at 0.1 mile for 2027, Raffles at 0.2 mile announced, the Four Seasons Private Residences at 0.3 mile for mid 2028, and Arbor at 0.4 mile, open since March 2026.
The Lincoln adds 48 households to the Grove and no hotel rooms. For the eight hotels, the delivery puts 48 closings inside walking distance of three of them.
Two dates frame the window. The June 2026 start opens 27 months of construction. The Q3 2028 completion puts 48 sales in one quarter.