$1M rent, $100 steaks: Inside Coconut Grove’s booming restaurant scene

Coconut Grove has become a popular dining destination in Miami, but this growth has come with a cost. Soaring rents have affected restaurants in the area, with some shutting down. The average direct asking retail rent in Coconut Grove is now over $110 per square foot, more than double what it was a decade ago.

This significant increase has impacted the neighborhood's dining scene. Further details about the impact of rising rents on Coconut Grove's restaurants can be found in a full story on The Real Deal, which explores the changes in the area and their effects on local businesses.