Raffles Residences Coconut Grove: The First Standalone Raffles Condo Guide (2026)

Raffles Residences Coconut Grove: The First Standalone Raffles Condo Guide (2026)

Raffles Residences Coconut Grove is a planned 35-residence luxury condominium at 2545 South Bayshore Drive in Coconut Grove, Miami, and the first standalone residential development in the history of Raffles Hotels & Resorts. Announced on October 29, 2026, the project is being developed by Mast Capital and BH Group, designed by Brandon Haw Architecture and supported by Accor One Living, the residential platform of Raffles' parent company, Accor. The building is purely residential: no hotel, no overnight guests. The developers describe two- to 4.5-bedroom residences priced from $4.5 million, plus a limited number of penthouses, with sales expected to launch in fall 2026 through Douglas Elliman Development Marketing.

This guide covers what the developers and Raffles have published so far, what that means for buyers, and how to compare the project with other Coconut Grove pre-construction condos before sales open. For the wider area, start with our Coconut Grove neighborhood guide.

Raffles Residences Coconut Grove at a glance

These figures come from the October 29, 2026 Raffles announcement, the project website and reporting by The Real Deal and Fortune on the launch. Pre-construction programs change before contract, so confirm each line with the sales team.

Residences, unit mix and pricing

With only 35 homes, Raffles Residences Coconut Grove is one of the smallest branded condominiums announced in Miami. BH Group founder Isaac Toledano told Fortune that the partners could have fit more units on the site but capped the building at 35.

The two descriptions of the bedroom range differ by the half-bedroom layout at the top of the mix, so ask the sales team which homes carry the 4.5-bedroom plan and how many there are. Residence sizes have not been published, which means price per square foot cannot be calculated yet. When floor plans are released, the Raffles Residences Coconut Grove building page will carry them.

The project website describes each terrace as "deep enough to live outdoors" and the interiors as stone, wood and warmth that blur indoor and outdoor space. The developers present the homes as long-term, generational residences rather than investment units. Raffles has not published a rental policy.

Architecture and project renderings

Brandon Haw Architecture leads the design. Brandon Haw founded the firm in 2014 after 26 years at Foster + Partners, where he directed the practice's U.S. operations. The DBOX renderings show a cream-toned building with deep, rounded terraces that wrap its corners, slender arched framing across the bay-facing facade, and a planted rooftop terrace with palms and shaded seating. Along South Bayshore Drive, the building sits behind a landscaped arrival with tropical planting and stone.

Project renderings by DBOX, released by Raffles Hotels & Resorts and Raffles Residences Coconut Grove.

The gallery shows the building above the Coconut Grove marinas, from South Bayshore Drive, and from a terrace looking toward the Miami skyline. These are renderings of a proposed design. The view from any one residence depends on its floor and orientation, so ask for the stacking plan before you choose.

Amenities and Raffles services

Raffles' published materials focus on service rather than an amenity list. The building-level amenities below come from the developers' interviews with The Real Deal and Fortune:

• Restaurant
• Spa and fitness center
• Speakeasy bars
• Rooftop pool deck with a bar
• Private pools for the penthouses

Mast Capital's Camilo Miguel Jr. told Fortune the building is "over amenitized" for 35 owners. Raffles CEO Omer Acar said the aim is a home that is "exceptionally well looked after, not a hotel unit you happen to own."

The service program centers on Raffles Butler Service, the brand's best-known hospitality tradition. Through the Accor Ownership Benefits Program, owners also receive global VIP recognition and Elite membership in the ALL Accor loyalty program, with preferred rates at more than 45 brands and over 5,800 Accor hotels and resorts.

Service-heavy buildings with few owners can carry high monthly costs per residence. No association budget has been published, so ask for the projected assessment, what the butler service includes, and which services are billed separately before you sign.

Location: 2545 South Bayshore Drive

The site is on South Bayshore Drive, Coconut Grove's bayfront corridor, across the street from Monty's Coconut Grove and the marina, according to The Real Deal. The developers describe the residences as waterfront homes with views across Biscayne Bay, over the Grove and toward the Miami skyline, and the renderings show the Coconut Grove marinas below.

What that location offers:

• Neighbors: Four Seasons Private Residences Coconut Grove is under construction a short way southwest at 2699 South Bayshore Drive, and existing condos such as Grovenor House and Mr. C Residences Bayshore share the same stretch of Bayshore.
• Water: Coconut Grove's bayfront parks, marinas and sailing clubs line this part of Biscayne Bay.
• Neighborhood market: Fortune reports that Ken Griffin and Larry Page have bought Coconut Grove estates in recent years, and both the developers and Raffles cite limited new waterfront inventory in the Grove.

Read our Coconut Grove neighborhood guide for the wider area, and walk Bayshore at different times of day before you commit. Proximity to the bay, Center Grove and the Brickell commute matters more to some buyers than to others.

Site history and project timeline

The building replaces Bayshore Park, a three-story, 39-unit condominium from the 1960s. Condo buyouts are difficult because they require most or all owners to sell, and this assemblage took years: Mast Capital began buying units in the building in the mid-2010s.

The developers have not published a completion date, a deposit schedule or construction financing. Fortune reported that about 40 people had already expressed interest in the roughly 35 residences at the time of the announcement. For a building this small, that is a reason to register early, not a measure of future pricing.

The old Bayshore Park condominium's sales are not comparable sales for the new building. Treat Raffles Residences Coconut Grove as a new pre-construction project with no resale history.

Raffles Residences vs. nearby Coconut Grove projects

Raffles and Four Seasons are the two hotel-branded residential projects on this stretch of South Bayshore, and neither includes a hotel. The Lincoln and THE WELL are priced from $1.5 million according to their developers, about a third of the Raffles starting price, and serve a different buyer. For the bigger picture on what a brand changes at closing and after, read our guide to branded residences in Miami, and compare buildings side by side in Coconut Grove condos compared.

How to prepare for the Raffles Residences sales launch

1. Join the waitlist on the Raffles Residences Coconut Grove building page to receive floor plans and pricing when they are released.
2. Decide on a size range now. With 35 residences and few penthouses, specific lines and floors will be scarce. Know whether you need two bedrooms or the top of the mix before the launch.
3. Plan your deposit funds. Miami pre-construction deposit schedules often total 30 to 50 percent of the purchase price before closing. The developers have not published this project's schedule, so plan for the upper end until they do.
4. Ask about the cost of service. Request the projected assessment, what Raffles Butler Service covers, and which restaurant, spa or in-residence services carry separate fees.
5. Compare on the same terms. Ask every project you consider for price per square foot, deposit schedule, projected assessment, rental policy and estimated completion. Our guide on why buy pre-construction in Miami covers the questions that matter at contract.

Frequently Asked Questions

Where is Raffles Residences Coconut Grove located?

The building is planned for 2545 South Bayshore Drive in Coconut Grove, Miami, FL 33133, on the site of the former Bayshore Park condominium. Four Seasons Private Residences Coconut Grove is under construction nearby at 2699 South Bayshore Drive.

Who is developing Raffles Residences Coconut Grove?

Mast Capital, led by Camilo Miguel Jr., and BH Group, led by Isaac Toledano, are the developers, in partnership with Raffles Hotels & Resorts. Accor One Living supports the development, design and operation, and Brandon Haw Architecture is the architect.

How many residences will Raffles Residences Coconut Grove have?

There will be 35 residences, including a limited number of penthouses. The Real Deal reports four penthouses. The announcement describes two- to 4.5-bedroom homes; the project website describes them as two- to four-bedroom.

What are the prices at Raffles Residences Coconut Grove?

Residences start at $4.5 million. Penthouse pricing, residence sizes and a deposit schedule have not been published.

Is there a Raffles hotel at the building?

No. It is the first standalone Raffles residential development, with no hotel and no overnight guests. Owners receive Raffles Butler Service and ALL Accor Elite membership through the Accor Ownership Benefits Program.

What amenities will the building have?

In interviews, the developers described a restaurant, a spa and fitness center, speakeasy bars and a rooftop pool deck with a bar, with private pools for the penthouses. A full amenity plan has not been released.

When will Raffles Residences Coconut Grove be completed?

The developers have not announced a completion date. Fortune reports that construction is expected to begin in 2027, and sales are expected to launch in fall 2026.

Who is handling sales?

Douglas Elliman Development Marketing has the exclusive sales and marketing assignment, led by sales director Matthew Chook.

Explore Raffles Residences Coconut Grove

Visit the Raffles Residences Coconut Grove building page for the rendering gallery, project facts and the waitlist. Contact REHUB Miami to discuss layouts and to compare Raffles with other Coconut Grove pre-construction condos before sales open.