Raffles Picks Coconut Grove for Its First-Ever Standalone Residences: Just 35 Waterfront Homes, From $4.5 Million

For nearly 140 years, Raffles has been the address where generations of writers, artists, cultural figures, world leaders and discerning travelers have checked in. Now, for the first time, the legendary hotel brand is building homes of its own, and it has chosen Miami’s Coconut Grove to do it.

Raffles Hotels & Resorts, part of world-leading hospitality group Accor, together with South Florida real estate developers Mast Capital and BH Group, has announced Raffles Residences Coconut Grove, an intimate collection of just 35 private residences at 2545 South Bayshore Drive. It is the first standalone residential development in the brand’s history, a major milestone for a name born with the opening of Raffles Singapore in 1887.

Raffles made its North American debut with Raffles Boston, a mixed-use hotel and residential property. Coconut Grove represents a fundamentally different expression of the brand: it is created entirely around private residential ownership and conceived as a collection of generational residences, with a select range of private homes crowned by a limited offering of penthouses. Gracious two-to-4.5-bedroom residences start at $4.5 million, and sales are anticipated to launch this fall.

“Raffles has always evolved by bringing its distinctive spirit to new destinations. As a neighborhood with a rich cultural heritage, a strong sense of community, and an effortless sophistication, Coconut Grove is a natural first for our first standalone, branded residences,” said Omer Acar, CEO of Raffles. “Through Raffles Residences Coconut Grove, we are excited to introduce the magical world of Raffles to this unique corner of Miami and look forward to creating a highly personalized residential experience that also feels authentically connected to the community.”

Why the Grove

As Miami’s oldest neighborhood, Coconut Grove has retained a character uniquely its own. Its winding roads disappear beneath a lush tree canopy, historic estates sit quietly along the waterfront and life remains intimately connected to Biscayne Bay. With limited opportunities for new development, that enduring character has fueled demand while constraining new inventory, driving the Grove’s emergence as one of South Florida’s most coveted residential markets, and a magnet for the privacy, authenticity, discretion and sense of place that today’s ultra-high-net-worth buyers are seeking.

“Coconut Grove has always held a distinct place within Miami, evolving over generations while preserving the character and authenticity that make it unlike anywhere else,” said Camilo Miguel Jr., Founder and CEO of Mast Capital. “Its history, discretion, and deep connection to place are naturally aligned with what Raffles has represented for nearly 140 years. Working with Raffles to bring their first standalone residential development to the Grove gives us a rare opportunity to create something truly singular: a new waterfront landmark that is unmistakably Raffles but could only exist in Coconut Grove.”

A Sculpted Waterfront Landmark

The architecture is led by Brandon Haw Architecture, founded by Haw following a 26-year tenure alongside Lord Norman Foster at Foster + Partners, where he directed the global practice’s U.S. operations before establishing his own firm in 2014. Supported by Accor One Living, a platform offering a 360-degree approach to the development, design and operation of mixed-use projects and branded residential communities, the site will occupy a singular position where Biscayne Bay meets Coconut Grove’s expansive tree canopy, capturing sweeping views across the bay, over the Grove’s private residential enclaves and toward the Miami skyline.

Raffles Service, at Home

At this scale, homeowners will be known personally, with Raffles’ celebrated approach to hospitality shaped around the rhythms, rituals and individual preferences of daily life. The brand’s legendary Butler Service remains one of the most recognizable expressions of personalized hospitality in the world.

“At this scale, the Raffles philosophy of hospitality can be experienced on a deeply personal level,” said Isaac Toledano, Founder of BH Group. “Homeowners can be known, their preferences understood and the experience shaped around the way they live. That level of recognition, service, and privacy is increasingly difficult to achieve, particularly in a market where opportunities for new waterfront residences are so finite. Raffles Residences Coconut Grove brings together an extraordinary brand, an irreplaceable site, and a level of intimacy that simply cannot be replicated at a larger scale.”

Through the Accor Ownership Benefits Program, owners will also have access to signature benefits including global VIP recognition and Elite membership in the ALL Accor loyalty and rewards program, with access to preferred rates at more than 45 brands and over 5,800 Accor hotels and resorts worldwide.

A Legacy Since 1887

Born with the opening of Raffles Singapore, the brand has become synonymous with gracious service and cultural discovery, its hotels as memorable for the lives lived within them as for their architecture and surroundings. Today Raffles can be found in key international locations including Singapore, Paris, London, Boston, Istanbul, Dubai, Doha, Jaipur, Phnom Penh and Bali.

Douglas Elliman Development Marketing will handle exclusive sales and marketing for Raffles Residences Coconut Grove, led by sales director Matthew Chook alongside top agents Lourdes Alatriste, Jennifer Goldstein and Jorge Sanchez.

Haute Living has followed Mast Capital from our look at the developer behind Cipriani and Banyan Tree, and Raffles from our guide to the best luxury hotels in Boston.

For inquiries about purchasing at Raffles Residences Coconut Grove, contact [email protected].