Google co-founders Larry Page and Sergey Brin have been searching for luxury real estate in Miami, with sources confirming that Page is the buyer behind a recent high-profile purchase. The Real Deal has learned that Page acquired the Banyan Ridge property in Coconut Grove, a 4.5-acre waterfront estate at 3585 Anchorage Way, for $101.5 million in December.
Page and Brin are among the world’s wealthiest individuals, with Bloomberg reporting Page’s net worth at $272 billion and Brin’s at $253 billion.
The sale of Banyan Ridge was handled by Danny Hertzberg, Jill Hertzberg, Nathan and Judy Zeder of the Jills Zeder Group. When contacted by The Real Deal, Danny Hertzberg declined to comment while Jill Hertzberg did not respond immediately. A spokesperson for the Zeders also declined to comment.
The previous owner of Banyan Ridge was the estate of Jonathan Lewis, a well-known Miami restaurateur and LGBT advocate. The property had previously been listed for $135 million.
In addition to Banyan Ridge, Page recently purchased another home in Coconut Grove: a 10,400-square-foot residence at 3085 Munroe Drive featuring seven bedrooms and eight bathrooms. The transaction was recorded this week at $71.9 million and is associated with a San Francisco-based wealth manager. According to The Wall Street Journal, Roger Barnett, CEO of Shaklee Corp., and his wife Sloan Barnett sold the house to Page.
Sergey Brin arrived in Miami during Art Basel last December on his megayacht Dragonfly, which is valued at $450 million and docked in Biscayne Bay. While there were rumors that Brin might have purchased Banyan Ridge as well, sources told The Real Deal he is considering buying a waterfront home in Miami Beach instead.
Brin and Page founded Google together in 1998 while attending Stanford University.
These purchases come amid increased interest from California’s ultra-wealthy residents in relocating to Florida. This trend may be influenced by California’s proposed wealth tax targeting residents with assets exceeding $1 billion—a measure that would impose a 5 percent tax on such individuals’ assets (https://www.nytimes.com/2023/12/17/technology/california-billionaires-florida.html). Reports indicate that Larry Page has been seeking to leave California and spend more time in Miami; three LLCs connected to him were incorporated in Florida last month.
Brett Harris of Bespoke Real Estate commented on this migration: “One hundred billionaires in California are all on their way to Florida and our phones are ringing off the hook.”
