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‘King of Coconut Grove’ Faces Foreclosure. His Buyers Could Lose Their Homes

A lender is foreclosing on the Coconut Grove properties of developer Doug Cox demanding to take control of two dozen ready-to-move-in houses and prime vacant lots because of his failure to repay a $43 million debt. But the buyers just got a lifeline when Miami-Dade Circuit Court judge appointed a receiver to oversee a tangled web of lawsuits, purchase contracts and fraud accusations centered on Cox.

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Why Miami’s Coconut Grove Neighborhood Has Become A ‘Real Estate Hotspot’

The pandemic accelerated the Grove’s popularity, attracting transplants from New York, Chicago and California due to its proximity to all things great about Miami — including well-regarded private schools, a relatively quick drive to downtown, sophisticated dining, bayside parks and the revitalized Dinner Key pleasure boat marina.

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