Citadel boss Ken Griffin sets record with Miami home purchase for $109 million
Finance kingpin Ken Griffin has been revealed as the buyer in the most expensive residential real estate transfer in Miami history.
The Citadel boss — who recently announced the relocation of his firm from crime-ravaged Chicago to Miami — purchased the four-acre compound in Coconut Grove for $106,875,000 last week, according to the Real Deal.
The palatial waterfront spread was put on the market by businesswoman and philanthropist Adrienne Arsht for $150 million in January.
While Palm Beach’s red-hot real estate market has seen its share of nine-figure transfers, Griffin’s purchase marks the first time a Miami property has crossed the threshold.
The city’s prior sales record stood at $93 million for three adjacent homes purchased by tech titan Phil Ragon earlier this year.
Arsht said she plans to donate proceeds from the sale to charity.
“As the steward of this beautiful property, I am proud to leave its legacy to the next generations of caretakers,” she said in a statement. “May they also enjoy the breathtaking view!”
Griffin has been swallowing up South Florida properties for hundreds of millions of dollars in recent years.
After issuing several warning to Chicago city leaders over spiraling crime, Griffin announced CItadel’s relocation to Miami in June.
According to Bloomberg, he is worth and estimated $29 billion.
Griffin’s latest trophy consists of two homes totaling 25,000 square feet.
Overlooking Biscayne Bay, the property includes more than 400 feet of water frontage and boasts views of the Miami skyline.
Ashley Cusack of Berkshire Hathaway HomeServices EWM Realty brokered the deal.