Coconut Grove Becomes Miami's Luxury Hotspot

Ultrawealthy buyers are scooping up properties in the once quiet Miami enclave

Feb. 6, 2026 at 2:55pm

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Coconut Grove, a once quiet Miami neighborhood, has become the latest playground for the ultrawealthy. High-profile buyers like Google co-founder Larry Page, Inter Miami co-owner Jorge Mas, and hedge fund manager Ken Griffin have all purchased multimillion-dollar properties in the area, driving up real estate prices and transforming the community.

Why it matters

The influx of wealthy buyers in Coconut Grove signals a shift in Miami's real estate landscape, as the city continues to attract top-tier investors and residents. This trend could have broader implications for the local housing market and the character of the neighborhood itself.

The details

In recent years, Coconut Grove has seen a surge of interest from ultrawealthy buyers. Google co-founder Larry Page paid $188.4 million for three properties in the area, while Jorge Mas, the co-owner of Inter Miami, flipped a vacant lot for $100 million. Additionally, in 2022, hedge fund manager Ken Griffin purchased a waterfront estate for $106.875 million, setting a new Miami record.

  • In 2022, Ken Griffin bought a waterfront estate for $106.875 million, a Miami record.
  • In recent years, Coconut Grove has seen a surge of interest from ultrawealthy buyers.

The players

Larry Page

The co-founder of Google who paid $188.4 million for three properties in Coconut Grove.

Jorge Mas

The co-owner of Inter Miami who flipped a vacant lot in Coconut Grove for $100 million.

Ken Griffin

A hedge fund manager who purchased a waterfront estate in Coconut Grove for $106.875 million, setting a new Miami record.

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The takeaway

The influx of ultrawealthy buyers in Coconut Grove signals a significant shift in Miami's real estate landscape, as the city continues to attract top-tier investors and residents. This trend could have broader implications for the local housing market and the character of the neighborhood itself.