Citadel boss Ken Griffin sets record with Miami home purchase for $109 million

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

The Citadel boss — who not too long ago 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 response to 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.

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 a press release. “Could in addition they benefit from the breathtaking view!”

Griffin has been swallowing up South Florida properties for tons of 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 value and estimated $29 billion.

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

Overlooking Biscayne Bay, the property consists of 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.