THE WELL Coconut Grove

THE WELL Coconut Grove sits at 2640 S Bayshore Drive, in the same corridor as Grove at Grand Bay and Park Grove — Terra's own prior deliveries. It's an eight-floor, 194-unit building, designed by Arquitectonica with interiors by Meyer Davis Studios, developed by Terra in partnership with AB Asset Management.

The project is under construction, backed by a recorded $410M construction loan from TYKO Capital that closed alongside groundbreaking. Completion is targeted for 2028. Sell-through — what percentage of the 194 units is currently under contract — is not published.

This is Terra's first pairing with THE WELL as a residential wellness brand rather than building the amenity program in-house, which shapes both the unit count (relatively low-density for the site) and the scale of the wellness infrastructure described below.

Units range from 960 to 4,200 square feet, a spread wide enough to cover a compact one-bedroom and a full-floor residence under one roof. Pricing starts at $1.5M; no ceiling price and no average price-per-square-foot figure has been published, so there's no way yet to test where this sits against Grove at Grand Bay or Park Grove resale comparables.

Every residence comes with a private balcony or terrace. Beyond that, finish specifications, floorplan counts, and view corridors are not detailed in what's on file. Ask the sales team directly for the price list by line and floor, and for confirmed $/sf once available — that single number will tell you more about where this sits in the market than the starting price does.

The amenity program is the point of this building. THE WELL's residential rollout brings 37 amenities across a 13,000-square-foot Fitness and Wellness Club, a 40,000-square-foot rooftop built as an outdoor wellness deck with pool, hot tub, hot-and-cold plunges, a communal bath house with steam room, sauna and caldarium, a Crystal Cave lounge, a hyperbaric chamber, and a functional-medicine practice with physical therapy and longevity specialists on site. There's also a mindful-movement studio with a healing gong wall, a pickleball court, a children's room, and a tea garden with a reflection pond.

Service runs deeper than a typical concierge desk: bi-annual health coaching, an annual whole-person assessment, in-home treatments, preferred pricing at other THE WELL locations globally, and an energy-clearing ceremony performed in each new residence. This is a building sold on daily wellness ritual, not just a gym and a pool.

The neighborhood context: Bayshore Drive in Coconut Grove is an established address, and the immediate area is in active build-out. The Four Seasons Private Residences Coconut Grove — a 20-floor tower under construction to the southwest, due 2028 — is noted as having a partial view impact on this site. Broader walkability and transit detail isn't in the file.

Terra, headquartered in Coconut Grove and active since 2001, has delivered eleven Miami-Dade condo towers, including Grove at Grand Bay, Park Grove, Five Park, Eighty Seven Park, GLASS, 900 Biscayne and Quantum on the Bay. That's a genuine local track record, and two of those deliveries — Grove at Grand Bay and Park Grove — sit in this same neighborhood. Worth noting: Park Grove closed roughly four years behind its original 2017 target, a data point on the sponsor's schedule discipline.

On this project Terra is partnered with AB Asset Management, and construction is financed by a recorded $410M loan from TYKO Capital — institutional debt at a scale that supports the delivery timeline. THE WELL brings a recognized global wellness brand and its own service infrastructure to the building rather than a developer-built amenity concept.

For a fuller picture of Terra's litigation history across other projects, see the filings panel on this page — it is not part of this building's own record and isn't detailed here.

Deposits are collected in six stages: 10% at contract, 10% at groundbreaking, 10% at vertical-pour completion, 10% ninety days after that, 10% at top-off, and 50% at closing — a front-loaded structure that puts half the purchase price due only at the finish line, but collects the other half well before the building tops out. The escrow percentage above Florida's statutory 10% floor hasn't been published; ask for it directly, since a higher voluntary escrow is a meaningful buyer protection.

A lawsuit — Grove Opposing Out-of-Control Development Inc. v. City of Miami — challenges the 2023 zoning ordinance and height bonus that this project's permits rely on, with an emergency injunction motion pending as of a February 2026 report and no ruling yet stated; Terra itself is not a named party, but the outcome bears directly on this building's entitlement.

Rental and short-term rental policy are not disclosed, nor is an HOA figure. Ask for both, along with sales-pace (percentage sold) and the current price list — none of the three is public yet.

Value scores 6: a $1.5M floor across a wide size range, but no ceiling price, no $/sf, and no comparable band to test it against — the number alone doesn't tell you if it's priced right. Delivery scores 6: the $410M loan and active construction would ordinarily support more, but the open lawsuit targeting this project's zoning height bonus caps it until the injunction motion is resolved.

Location scores 6 — a strong Bayshore Drive address pulled down a point by a taller tower rising nearby with partial view impact. Developer scores 7: eleven delivered towers and two in this same neighborhood is real credibility, tempered by one significantly delayed prior delivery.

Liquidity and market momentum both score 7: 194 units across a broad size range should support a reasonably deep resale pool, and the loan-plus-brand profile is solid, but sales pace and rental policy aren't yet disclosed to confirm it. Buyer protection scores 7, the standard read for an under-construction, institutionally financed project at this stage.

This suits a buyer thinking in years, not months — someone comfortable holding through the 2028 completion window and the pending litigation timeline, drawn to the wellness-brand differentiation more than to a value play. It's a harder fit for anyone who needs rental income clarity now or wants to underwrite against a confirmed $/sf before committing.