Exclusive | Ex-Starbucks CEO Howard Schultz Pays $44 Million for Florida Penthouse

March 12, 2026 - 01:30

Former Starbucks CEO Howard Schultz has made a monumental real estate purchase, acquiring a penthouse in Miami for a staggering $44 million. The sale marks one of the most expensive residential transactions in the city's history this year.

The expansive waterfront residence is located in a prestigious tower, offering panoramic views of Biscayne Bay and the Miami skyline. The property spans the entire top floor and features multiple terraces, a private pool, and high-end finishes throughout. This acquisition underscores the continued allure of South Florida's luxury market for ultra-high-net-worth individuals.

Schultz joins a growing list of prominent business leaders and financiers who have recently established a footprint in the region. The migration of corporate titans to areas like Miami and Palm Beach has been a notable trend, bringing significant capital and attention to the local economy and real estate landscape.

The purchase represents a personal investment for Schultz, who stepped down from his role at Starbucks last year. While his plans for the property are private, the deal solidifies South Florida's status as a premier destination for luxury living and a magnet for America's business elite. The record-setting price point is seen by market analysts as a strong indicator of confidence in the enduring value of top-tier coastal Florida real estate.