Ken Griffin (Illustration by The Real Deal with Getty)
Ken Griffin epitomizes the South Florida more-is-much more authentic estate philosophy.
The billionaire founder of Citadel just raised the bar on his report-location portfolio. Griffin, who is really worth about $31 billion, now owns at minimum $1.3 billion of residential and business true estate in South Florida, on top rated of luxurious residences in New York, Chicago, London and somewhere else. His Florida house by itself is equal to about 4 percent of his internet value.
Griffin’s newest order of Adrienne Arsht’s Coconut Grove estate rounds out a prolific ten a long time of expenditure.
The Daytona Seashore native’s very first important acquisition in South Florida was of his Blossom Way assemblage in Palm Beach in early 2012. Pre-pandemic, Griffin spent even far more on supplemental contiguous properties in the community.
Covid activated a mad dash for South Florida actual estate, and he joined the group, purchasing 3 waterfront attributes on Miami Beach’s Star Island, wherever residents involve Gloria and Emilio Estefan, Diddy and Phillip and Patricia Frost.
Previously this calendar year, Griffin’s Citadel declared it would relocate its headquarters to Miami from Chicago, and a industrial investing spree followed. His hedge fund was connected to the buys of 3 Brickell attributes, together with one more report-environment obtain.
Here’s a breakdown on how Griffen created out his portfolio in excess of the past ten several years:
Late 2012, Palm Seashore
Griffin’s 1st South Florida acquire was a $130 million compound on Blossom Way in Palm Beach front. He assembled 4 properties throughout 6.5 acres in the deal.
July 2015
Future, he compensated $15.2 million for about1.5 acres at 70 Blossom Way in Palm Beach, expanding his assemblage on the island.
September 2015
Griffin’s subsequent large purchase despatched him further south to Faena Residence on Miami Beach’s Collins Avenue. He purchased two penthouse models for a blended $60 million.
January 2017
A year and a half later on, he dropped $85 million for the 4.2-acre property at 1290 South Ocean Boulevard, adjacent to his Blossom Way compound. Soon after this acquire, Griffin’s Palm Beach front holdings totaled 12.1 acres.
Could 2018
He tacked on 2 much more acres to his Palm Beach front estate with a $20.3 million purchase of 10 Blossom Way. At the close of this sale, Griffin experienced put in $250.5 million on his Palm Beach front assemblage.
August 2019
Griffin’s very last addition to his Blossom Way compound was a 3.6-acre, oceanfront estate at 60 Blossom Way. Soon after getting the house for just above $99 million, his overall expend was about $350 million on 17.7 acres on the island.
August 2020
Right after the pandemic strike, Griffin moved his notice to an island further south. He paid $37 million for a double good deal at 11 and 12 Star Island Generate in Miami Seashore.
December 2020
The spendy Griffin not often sections with authentic estate after it is his, but later that yr he marketed a pair of Faena Household penthouses for $46.2 million, and took a $13.8 million reduction. The hedge fund mogul’s $60 million order of them in 2015 was at the time a record for household revenue in the region. As he offloaded the condos 5 yrs later on, he added to his Star Island assemblage, paying out $25 million for 10 Star Island Generate.
December 2021
Griffin bought a single South Florida house in 2021, a $75 million teardown adjacent to his Star Island assemblage. His acquisition of the estate at 8 Star Island Drive introduced his compound to 4.6 continual acres on the waterfront.
April 2022
Citadel produced its first professional acquisitions in South Florida before this year, and correct to sort, immediately established a document. The hedge fund paid $363 million for a 2.5-acre bayfront development web page at 1201 Brickell Bay Drive.
June 2022
Resources confirmed Citadel procured the office environment building at 1221 Brickell Avenue in June for $286.5 million. The 28-story tower is near Citadel’s Brickell Bay Drive web page.
August 2022
Griffin extra to his professional assemblage on Brickell Bay Drive, obtaining up the addresses throughout the avenue. A Citadel affiliate compensated $20 million for 1250 and 1260 Brickell Avenue.
September 2022
To start out the thirty day period, sources named Griffin as the customer of Adrienne Arsht’s Coconut Grove estate for $107 million. The obtain was his largest solitary household expenditure in Florida outdoors of Palm Beach front to date.
