Sales and Construction of SeaGlass Cove Commence in the Heart of The Florida Keys

An exclusive collection of 14 oceanfront single-family homes redefines laid-back luxury in Florida’s most sought-after destination 

Constellation Group, a Miami-based commercial real estate investment and development firm,  and Ironwood Venture Group, a real estate development firm, have started construction on SeaGlass Cove, a new, luxurious island enclave consisting of just 14 single-family homes in Marathon, Fla., in the heart of the Florida Keys. Banesco USA provided the $17 million construction loan to build SeaGlass Cove Residences.

Located at 59720 Overseas Highway in Grassy Key, the commencement of construction comes on the heels of SeaGlass Cove’s recent sales launch from the last quarter of 2022. With over 40 percent of the residences – which start at $3 million – under contract or reserved, the oceanfront development is enjoying extraordinary sales success.

“SeaGlass Cove introduces a new dimension in waterfront living in one of Florida’s most sought-after destinations,” said Eduardo Otaola, Principal at Constellation Group. “The initial success of the sales process is a true testament to the demand buyers have for the Florida Keys and our well-conceived private enclave focused on barefoot luxury.”

“We are truly proud to be growing our portfolio of properties with Constellation Group, who we have been working with for seven years,” said Amelia Rodriguez, Senior Vice President, Banesco USA. “We are also very excited to be part of the development of SeaGlass Cove and bringing these exclusive residences to life in the middle of paradise.”

“Our design intent since the inception of the project has been to offer buyers new luxury construction residences in the Florida Keys,” said Everett Atwell, Director of Ironwood Venture Group. “Taking into account the strict standards and stringent building codes these homes have to adhere to, SeaGlass Cove presents an especially rare and unique opportunity.”

Nestled amongst colorful coves and turquoise waters in a private gated community, SeaGlass Cove features three-story homes comprised of 4,800+ square feet of living and entertainment space that offer stunning views of the Atlantic Ocean.  Residences will feature a two-car garage, chef’s kitchen, and spa baths that will be luxuriously appointed with MiaCucina finishes and Wolf/Subzero appliances (or Stone International finishes and KitchenAid appliances). Additional highlights include a private covered cabana and an optional summer kitchen replete with beach access.

The oceanfront enclave features a myriad of resort-style amenities, including a pool overlooking the ocean, an on-site pickleball court, and activities that include paddleboarding, swimming, fishing, snorkeling, biking, and much more. SeaGlass Cove is minutes from fine dining, shopping, spas, marinas, and much more.  The project is slated for full completion in 2024.

Sea Glass Cove is 20 minutes South of Islamorada, is in close proximity to the Florida Keys/Marathon International Airport, and offers convenient access to Overseas Highway, which spans the entire chain of the Keys, and over the Atlantic Ocean, Florida Bay, and the Gulf of Mexico.

The Sea Glass Cove Sales Gallery is located at 27217 Overseas Highway in Ramrod Key, and is open Monday through Friday from 9 a.m. to 5 p.m., Saturday from 10 a.m. to 4 p.m., and Sundays by appointment.  Appointments can be booked by calling 305.872.5000. For additional information, call or visit or Facebook or Instagram.


Constellation is a commercial real estate investment and development firm offering a family office approach to real estate investments across various asset classes. Specializing in residential, office, and retail assets throughout the Southeastern United States, Constellation seeks to fulfill efficient yield and return-driven strategies. Their combined experience and track record uniquely position us to identify market trends and maximize our investor returns.


Ironwood Venture Group is a Florida-based private equity and full-service real estate development company focused primarily on the Florida Keys. As part of their services, they perform acquisitions, project approvals, development, construction management, and asset management of real estate ventures in Florida. Their main focus is on the residential, marina, and resort asset classes, targeting high value-add opportunities in these niche markets. Their partners and investors benefit from their team’s vast experience in Florida and specifically in the Florida Keys and Key West.