Key Takeaways
- • Raffles is building 35 homes in Miami's Coconut Grove, with prices starting from $4.5 million, according to the headline. The full article could not be retrieved, so project details beyond the headline are limited.
- • Google co-founder Larry Page reportedly spent about $173.4 million on two waterfront estates in Coconut Grove. Other coverage cites a $188.4 million total across three properties.
- • Ultrawealthy buyers including Ken Griffin have paid more than $100 million for Coconut Grove properties, according to publisher coverage.
- • A 4.5-acre Coconut Grove compound with direct Biscayne Bay access has been listed for $115 million, indicating continued demand at the top of the market.
- • Per Coldwell Banker real estate agent Danny Hertzberg, the neighborhood has moved from little-known to a billionaire destination after a string of megasales.
Summary
Raffles is developing 35 homes in Coconut Grove, a Miami neighborhood that has drawn increasing attention from ultra-high-net-worth buyers. According to the report headline, the project's homes start at $4.5 million. The original article could not be retrieved, so the project's scope, timing, and developer details cannot be confirmed from available sources.
The most widely cited transaction is Google co-founder Larry Page's purchase of two waterfront estates in Coconut Grove, reported at a combined $173.4 million. Coverage varies on the figures: one account references two disclosed transactions totaling $173.4 million, with one reported as $101.5 million, while another puts Page's total across three properties at $188.4 million. Reports describe the purchases as occurring within days of each other.
The Wall Street Journal, via Dow Jones, reports that the Grove, known for its banyan trees, winding streets, and small gated communities, is quickly transforming into a billionaire enclave following a series of megasales. Ken Griffin is also cited among ultrawealthy buyers who have paid more than $100 million for properties there. Coldwell Banker agent Danny Hertzberg told the WSJ that the neighborhood was little known outside Miami until recently.
Further listings reflect the upper end of the market. A 4.5-acre compound with direct Biscayne Bay access has been listed for $115 million. Secondary commentary from local realtors attributes the trend to a broader tech-wealth migration to Miami, citing Mark Zuckerberg and Sergey Brin, though these claims are not independently verified in the available material.
The most widely cited transaction is Google co-founder Larry Page's purchase of two waterfront estates in Coconut Grove, reported at a combined $173.4 million. Coverage varies on the figures: one account references two disclosed transactions totaling $173.4 million, with one reported as $101.5 million, while another puts Page's total across three properties at $188.4 million. Reports describe the purchases as occurring within days of each other.
The Wall Street Journal, via Dow Jones, reports that the Grove, known for its banyan trees, winding streets, and small gated communities, is quickly transforming into a billionaire enclave following a series of megasales. Ken Griffin is also cited among ultrawealthy buyers who have paid more than $100 million for properties there. Coldwell Banker agent Danny Hertzberg told the WSJ that the neighborhood was little known outside Miami until recently.
Further listings reflect the upper end of the market. A 4.5-acre compound with direct Biscayne Bay access has been listed for $115 million. Secondary commentary from local realtors attributes the trend to a broader tech-wealth migration to Miami, citing Mark Zuckerberg and Sergey Brin, though these claims are not independently verified in the available material.
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