Real Estate

Ken Griffin sets record with Miami home purchase for $109M

Finance kingpin Ken Griffin has been revealed as the customer in the costliest residential actual property switch in Miami historical past.

The Citadel boss — who lately introduced the relocation of his agency from crime-ravaged Chicago to Miami — bought the four-acre compound in Coconut Grove for $106,875,000 final week, according to the Real Deal.

The palatial waterfront unfold was put in the marketplace by businesswoman and philanthropist Adrienne Arsht for $150 million in January.

Whereas Palm Seashore’s red-hot actual property market has seen its share of nine-figure transfers, Griffin’s buy marks the primary time a Miami property has crossed the brink.

The town’s prior gross sales document stood at $93 million for 3 adjoining properties bought by tech titan Phil Ragon earlier this yr.

Arsht stated she plans to donate proceeds from the sale to charity.

“Because the steward of this lovely property, I’m proud to go away its legacy to the subsequent generations of caretakers,” she stated in an announcement. “Could in addition they benefit from the breathtaking view!”

Citadel CEO Ken Griffen has been revealed as the customer of a $109 million dwelling in Miami.
REUTERS/Mike Blake
Businesswoman and philanthropist Adrienne Arsht put the mansion up for sale in January for $150 million.
Businesswoman and philanthropist Adrienne Arsht put the mansion up on the market in January for $150 million.
Photograph by Patrick McMullan/PMC by way of Getty Pictures

Griffin has been swallowing up South Florida properties for a whole bunch of hundreds of thousands of {dollars} in recent times.

After issuing a number of warning to Chicago metropolis leaders over spiraling crime, Griffin introduced CItadel’s relocation to Miami in June.

In line with Bloomberg, he’s price and estimated $29 billion.

Griffin’s newest trophy consists of two properties totaling 25,000 sq. ft.

Overlooking Biscayne Bay, the property contains greater than 400 ft of water frontage and boasts views of the Miami skyline.

Ashley Cusack of Berkshire Hathaway HomeServices EWM Realty brokered the deal.

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