Why the Wealthiest Families are Buying Real Estate in Coconut Grove?
The Attraction of the World’s Wealthiest Families to Coconut Grove
Coconut Grove is known for its high-end lifestyle. Its bohemian chic atmosphere was even covered by the Wall Street Journal in an article describing the Grove’s transformation from Birkenstocks to Billionaires.
What makes all these high net worth individuals choose the Grove as their family’s residence or for pure investment purpose?
1. Great private schools
Coconut Grove is home to some of Miami’s best private schools like Carrollton, Ransom and St Stephens. The Carrollton School of the Sacred Heart is an all girls school that serves from grades Pre-Kinder to 12. Ransom Everglades serves grades 6 to 12. Grades 6 – 8 are served on the S BayShore Drive location while grade 9 to 12 are served at Main Highway. St Stephens Episcopal Day School serves grades from Pre-Kinder to grade 6.
2. Park Life
Merrie Christmas, David T. Kennedy Park and The Barnacle Historic State Park are located in safe and walkable distance to almost all single family homes in the neighborhood. The lush banyan tree filled Park of Merrie Christmas is located in South Coconut Grove just South of Main Highway. The other two parks are located on waterfront lots. The large Kennedy Park is in the North East of the Grove between South Bayshore Drive and the bay. The Barnacle Park is located close to Cocowalk and across the street from Greenstreet Cafe.
3. Being on the water
Coconut Grove is a bay front destination. This brings along luxurious waterfront mansions and the new breed of luxury waterfront condos with 12 ft ceilings and the most unobstructed views of the bay. Please click on the video below for our feature of Coconut Grove bay front living
4. Close proximity to everything in Miami.
Regardless if you need access to the urban core of Brickell (5 minutes by car) or Coral Gables (5 minutes by car) or Miami Beach (15 minutes by car), Coconut Grove is within close distance of it all. The airport is located just 15 minutes away from the core of Coconut Grove.
5. The Grove is organically developed
The Grove is naturally beautiful with lush landscaping and tree-filled streets often serving as the catwalk for proud peacocks. The neighborhood is extremely pretty and with so much green it feels like a jungle in places.
6. Quality of life and infrastructure
Coconut Grove is home to excellent restaurants and entertainment. A stroll down Main Highway will give you a good sense of the tranquility and chic yet laid-back dining options. Also important to mention is that Coconut Grove is 24/7 police controlled and awarded safest neighborhood within Miami Dade.
7. The socio-demograhics
The Grove is home to a large number of wealthy families which are highly educated and well travelled. Many young professionals relocate to Coconut Grove once they start a new family. The Grove’s demographic is divided over all ages while the majority of them are families with children.
8. A level of high quality real estate
Coconut Grove is home to some high quality mansions that have grown substantially over the last few years. Long gone are the Bahamian style homes to be replaced with contemporary villas and luxury waterfront mansions.
9. Park Grove
This ultra luxury Condo in Coconut Grove has set a new standard for luxury and it provides all the elements and more that are desired by wealthy families. The brand new architectural masterpiece by Rem Koolhaas’ Office for Metropolitan Architecture offers 3 towers located in a 5.2-acre waterfront park with over 50,000 Sq.Ft of amenities and a major collection of Art. Designed by a world-class team of leading architects, designers, and developers, Park Grove marries inventive modern design with the area’s rich cultural legacy, creating an ambiance that is as luxurious as it is relaxed. From its residences to its amenities and club, Park Grove offers the ultimate in serene bayfront living. One Park Grove which is the most luxurious of the three residential towers offers luxury bayfront residences with 3 to 5 bedrooms.
10. Favorable tax laws
Florida has some very appealing tax laws that make it a popular place for wealthy families to shelter their wealth. There is no city and no state tax. Homestead exemption and castle law are two other laws that make this a very appealing place to be!