The National Observer: New wealth reshapes a historic neighborhood
By Mark Mensheha
Tampa Bay Business Journal
Published: May 18, 2026

New wealth reshapes Miami's oldest neighborhood

When Google co-founder Larry Page paid more than $188 million for a trio of waterfront homes in Miami’s Coconut Grove area earlier this year, he made national headlines. The transactions came as little surprise to South Florida real estate insiders, thought. They’ve witnessed the growing wave of out-of-state billionaires, executives and other high-net-worth individuals relocating to the Miami enclave in recent years. That includes Citadel CEO Ken Griffin, one of the first to elevate Coconut Grove’s profile when he acquired his own waterfront home there for nearly $107 million in 2022.

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