Ken Griffin and Adrienne Arsht with 3031 Brickell Ave (Getty, Atlantic Council, Oak Studios)
Hedge fund billionaire Ken Griffin is the mystery customer powering final week’s $106.9 million deal for Adrienne Arsht’s waterfront Miami estate, sources told The Real Offer.
Griffin, who has invested hundreds of millions of dollars buying South Florida real estate more than the past decade, acquired Arsht’s 4-acre Coconut Grove estate at 3031 and 3115 Brickell Avenue.
The deal, which set a record for one-household home product sales in Miami-Dade County, provides the Citadel founder and CEO a waterfront property about 2 miles south of his foreseeable future business office in Miami.
The property strike the market in January for $150 million, but sold at 29 p.c below that. Ashley Cusack of Berkshire Hathaway EWM HomeServices Realty represented Arsht, even though Jill Hertzberg of The Jills Zeder Group at Coldwell Banker represented the purchaser.
Each declined to remark on the buyer’s id. A spokesperson for Griffin did not ensure nor deny he was the consumer.
Assets data present 3031 Brickell LLC, a hidden Delaware entity, bought the estate.
Griffin, who is going his household and his providers to South Florida, is value far more than $26 billion, according to Forbes. He has invested over $350 million assembling household land in Palm Beach, exactly where Citadel is opening an office environment, and obtained waterfront houses in Miami Seaside — on Star Island — and in Coral Gables. His organization has also put in hundreds of thousands and thousands of pounds on business real estate in Brickell this 12 months.
The Coconut Grove estate is just south of the Brickell economic district, on a household part of Brickell Avenue in the vicinity of Vizcaya. The two residences on the house, which contains 400 toes of bay frontage, combine for 12 bedrooms and 13.5 bogs throughout far more than 25,000 sq. toes.
Arsht had the principal 5-bed room home designed in 1999. It options 20-foot ceilings, a principal bedroom suite that includes a full gym, 6-car or truck garage, bayfront pool and much more, in accordance to a push launch.
The second household, designed in 1913 by William Jennings Bryan, former U.S. Secretary of State, is on the Nationwide Sign-up of Historic Spots. It was developed by the late architect August Geiger.
Arsht acquired the homes in two separate deals. In 1996, she paid $4 million for the residence that is now the website of the more recent residence. She then purchased the historic house for $12 million in 2007, data clearly show.
The community is house to Leonard Abess Jr., the son of City National Bank founder Leonard Abess, who owns the practically 11-acre residence bordering Vizcaya Museum & Gardens and Miami developer David Martin, who is building a dwelling on the identical road as the 1 Griffin just bought.
The file for solitary-household house product sales in Florida was set by billionaire Larry Ellison’s $173 million acquire of a Manalapan estate this year. Prior to that, non-public fairness billionaire Scott Shleifer’s $122.7 million deal for an oceanfront mansion in Palm Seashore held the prime place.
