Google co-founders Larry Page and Sergey Brin have been searching for luxury properties in Miami, with Page identified as the buyer of a waterfront estate that sold for over $100 million at the end of last year, according to The Real Deal.
Page is ranked as the second wealthiest person globally with a net worth of $272 billion, while Brin is fourth with $253 billion, based on Bloomberg’s estimates. Sources told The Real Deal that Page purchased Banyan Ridge, a 4.5-acre compound located at 3585 Anchorage Way in Coconut Grove. The property was sold in December for $101.5 million, as recorded by the Multiple Listing Service.
The seller was the estate of Jonathan Lewis, known in Miami as a restaurateur and LGBT advocate. The property had previously been listed for $135 million.
Representing the seller were Danny Hertzberg, Jill Hertzberg, Nathan Zeder, and Judy Zeder from the Jills Zeder Group. Danny Hertzberg declined to comment on the sale and Jill Hertzberg did not immediately respond to requests for comment. A spokesperson for the Zeders also declined to comment.
In addition to Banyan Ridge, Page bought another home at 3085 Munroe Drive—a seven-bedroom, eight-bathroom residence spanning 10,400 square feet—for $71.9 million earlier this week. This transaction was linked to a San Francisco-based wealth manager and was first reported by The Wall Street Journal late Wednesday. The sellers were Roger Barnett, CEO of Shaklee Corp., and his wife Sloan Barnett.
Sergey Brin arrived in Miami during Art Basel in December aboard his megayacht Dragonfly, valued at $450 million and currently docked in Biscayne Bay. While there were rumors that Brin was also interested in Banyan Ridge, sources indicated he is considering other waterfront properties in Miami Beach.
Brin and Page founded Google together in 1998 while attending Stanford University.
Their interest in Miami real estate comes amid speculation that California’s proposed wealth tax may be prompting wealthy residents to relocate out of state. According to reporting from The New York Times, Page has told associates he is seeking to leave California and has spent increasing time in Miami; three LLCs connected to him were incorporated recently in Florida public records.
Brett Harris from Bespoke Real Estate commented on these trends: “One hundred billionaires in California are all on their way to Florida and our phones are ringing off the hook.”
A proposed ballot measure would require California residents with more than $1 billion in assets to pay an annual tax equal to five percent of their total assets.
