Years after construction halted and attorneys took center stage, the Kodsi family says it has finally pushed Arbor Residences in Coconut Grove over a crucial finish line. The five-story, 45-unit boutique condo at 3034 Oak Avenue has secured a temporary certificate of occupancy, clearing the way for closings after a long and very public stall. The project was frozen before the pandemic and later taken out of foreclosure, then revived in 2023 by developer Isaac Kodsi. Following Isaac’s unexpected death in 2025, his daughter Camilla and brother Dan stepped in to steer the building to completion.
According to The Real Deal, Arbor is now more than 70 percent presold, with the remaining condos being marketed from about $1.7 million. The outlet reports that the building was designed by Behar Font & Partners and includes a rooftop terrace, pool deck, gym, valet and concierge, keeping it firmly in Coconut Grove’s growing luxury lane.
How the family revived a stalled build
Ark Capital Group’s project page states that the firm acquired Arbor in 2023 and moved to complete construction and relaunch sales at the downtown Coconut Grove site. Business coverage in the South Florida Business Journal shows the property changed hands after lender Trez Capital pursued foreclosure against the original developer in 2022, a move that effectively hit the reset button on the condo’s future.
Sales and closings
The Real Deal reports that, despite the temporary certificate of occupancy, closings on individual units had not yet been recorded at the time of its coverage. The sales and marketing push has been led by Cervera Real Estate’s Sandra Masis, and listings show that the remaining inventory includes two- and three-bedroom floor plans aimed at buyers who want to stay rooted in the Grove.
Legal history and buyer protections
When the Kodsi family took over the partially built project, the developer’s materials state that deposits from earlier buyers were reimbursed and outstanding obligations were addressed so those purchasers would not be left exposed to the lender’s foreclosure process. That claim was outlined in a 2023 development press release distributed via Arbor Residences' press materials, which framed the reset as a clean slate for both the project and its future owners.
Where Arbor fits in the Grove
Arbor’s completion lands amid a wave of high-end development in downtown Coconut Grove, where projects such as Mr. C Residences and planned Four Seasons luxury homes have been reshaping the neighborhood’s condo and single-family mix. National coverage has highlighted Coconut Grove’s resurgence and the influx of affluent buyers helping drive that shift.
Ark Capital’s project listing casts Arbor as a smaller, neighborhood-focused building intended to appeal to full-time Grove residents rather than pure pied-à-terre hunters. With the temporary certificate of occupancy in hand, the Kodsi family’s attention is now on turning units over to buyers. For those tracking the saga from the sidelines, the building’s official sales pages and recent reporting remain the places to watch for recorded closings and any changes to pricing or remaining availability.
