Community focus: Cocoplum

One of the most iconic gated communities in Coral Gables is Cocoplum. It was initially purchased by George Merrick, the founder of the City of Coral Gables, to give his beloved city a beach. Tahiti Beach, now a gated community within the gated community of Cocoplum, was formerly the public beach for Coral Gables residents.

All of Cocoplum, including Tahiti Beach, was purchased for $8M in the 1970s from the City of Coral Gables by the Arvida Corporation. Arvida was headed by Ambassador Charles Cobbs, who is now called the founder of the Cocoplum gated community (NOTE: Ambassador Cobbs was a Stanford MBA, like the author of this blog. While I disagree with what he did, I recognize the fantastic negotiating skills evidenced in this real estate transaction. I hope to put mine at the service of the reader.).

Arvida developed Cocoplum in three phases: Phase 1, Islands of Cocoplum (Phase 2), and Tahiti Beach.

Cocoplum Phase 1 is comprised of larger lots than the Islands of Cocoplum, but more importantly, the owners of these homes are NOT members of the HOA (Cocoplum homeowners association).

Cocoplum Phase 2, better known as the Islands of Cocoplum, was established in 1979. It has a mandatory HOA. There is a $35,000 application for membership and a quarterly fee of $1200. The benefits of the HOA include a clubhouse with a soon-to-be renovated gym, basketball, volleyball, and tennis courts. The residents of the Islands of Cocoplum can also purchase or lease a boat or yacht slip (40 ft to 120 ft.) at the Cocoplum Yacht Club. There are other membership benefits as well. The islands of Cocoplum boasts of the most extended list of amenities of any community outside of Fisher Island.

Moreover, finally, there is Tahiti Beach, with its gorgeous, pristine private beach. Only the residents of the 25 homes in Tahiti Beach can get through that last gate…. Ambassador Cobbs became one of its longtime residents.

Today the homes in Cocoplum sell from $2.5M to $29M. For an in-depth analysis of the real estate market in this community, contact Maria Murdock at 305.815.9425.