Larry Page Tightens Grip on Miami's Coconut Grove with Family Office Lease

Billionaire Larry Page's family office has leased space in Miami's Coconut Grove neighborhood, further solidifying his presence in the area. According to Bloomberg, the Koop family office took on a lease at a boutique seven-story building near Barnacle State Park, but its name is not listed on the property's directory. The square footage and address of the leased space were not specified.

This move comes as Page has dropped nearly $190 million on property in Coconut Grove over the past year, making him one of several billionaires to plant roots in Miami. Many of these transplants have been leasing space for their family offices or boutique spaces for their firms, attracted by the neighborhood's high-end schools and mansions.

Page is not alone in his interest in Miami; Google parent Alphabet has also increased its office space in Brickell this spring, with a lease of about 45,000 square feet at 1450 Brickell Avenue, up from 10,000 square feet. Other billionaires, including Sergey Brin and Mark Zuckerberg, have also made high-profile purchases in the area.

Azora Private Solutions owns the building where Page's family office leased space, and has been actively acquiring properties in the neighborhood. The company paid $34 million last fall for one property and $61 million this year for another.