Raffles Residences is planned as a small, branded waterfront condominium at 2545 South Bayshore Drive in Coconut Grove. Developed by Mast Capital and BH Group with the Raffles name, the project is expected to offer large homes, hotel-style services and views of Biscayne Bay. Prices are reported to start at $4.5 million, with delivery targeted for 2029.
Key takeaways
The proposed tower is positioned as a limited-inventory option for buyers seeking spacious new construction in Coconut Grove. Project details supplied by the developer’s marketing coverage include:
- 35 private residences, including a limited number of penthouses.
- Reported floor plans of roughly 2,148 to 4,216 square feet, with two to four bedrooms and, in many layouts, a den.
- Twelve-foot ceilings and the possibility of combining residences.
- Starting prices of $4.5 million and projected delivery in 2029.
A first residential-only project for Raffles
The development is described as the first standalone residential project in Raffles’ history. Unlike Raffles Boston, which pairs a hotel with residences, the Coconut Grove building is planned solely for private residential ownership. Raffles is part of Accor, which operates hotels internationally.
Mast Capital and BH Group are leading the development. Brandon Haw Architecture is named as the architect, with Banda Studio handling interiors and Enea Landscape Architecture responsible for landscape design.
Homes designed around space and service
Plans call for private elevator access into each residence, separate service entrances and expansive windows opening to deep terraces. Interior finishes are expected to include natural stone flooring, custom kitchens and Sub-Zero and Wolf appliances. Each bedroom is slated to have an en-suite bathroom, while primary suites are planned with dual dressing rooms.
The amenity program is set to include a rooftop pool and cabanas, a spa, fitness and movement studios, a screening room, a speakeasy and dedicated residents’ rooms. Proposed services include butler assistance, a lifestyle concierge and home management. Accor loyalty benefits are also part of the offering, according to the project information.
Bayshore location and nearby competition
The site is across from Monty’s and the Dinner Key marinas, near Kennedy Park and Coconut Grove’s village center. Its Bayshore address offers access to waterfront recreation and links toward Brickell, Miami International Airport, Coral Gables and Key Biscayne.
The project enters a market where alternatives for large new condos are limited. The source’s market comparison says Four Seasons Coconut Grove is nearing sellout, while Park Grove’s largest standard floor plan is smaller than Raffles’ largest advertised layout. Those figures and availability can change, and buyers will need to compare individual units, prices and views as sales details are released.
A project to watch as plans advance
Raffles is being marketed to buyers who want a larger residence with branded services in a neighborhood known for its low-rise character. Its small scale and waterfront setting distinguish it from larger condominium developments, but final pricing, unit availability and construction milestones will determine how it compares with existing Grove properties. Delivery is currently projected for 2029.