Finance kingpin Ken Griffin has been revealed as the client in the most costly residential actual property switch in Miami historical past.
The Citadel boss — who just 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, in line with the Actual Deal.
The palatial waterfront unfold was put available on the market 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.
Town’s prior gross sales report stood at $93 million for 3 adjoining houses bought by tech titan Phil Ragon earlier this yr.
Arsht mentioned 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 mentioned in an announcement. “Might in addition they benefit from the breathtaking view!”
Griffin has been swallowing up South Florida properties for a whole bunch of tens of millions 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 keeping with Bloomberg, he's price and estimated $29 billion.
The sale marks the most costly actual property switch in Miami historical past.
The Miami mansion's yard and pool.
The eating room in Griffin's new home.
The Citadel chief is shifting his hedge fund to Miami from Chicago.
The property sits on 4 acres of land.
Griffin's buy consists of two houses for a complete of 25,000 sq. toes.
A bed room within the mansion.
The earlier Miami actual property report was $93 million for 3 adjoining houses bought earlier this yr.
Griffin’s newest trophy consists of two houses totaling 25,000 sq. toes.
Overlooking Biscayne Bay, the property consists of greater than 400 toes 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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