These cookies do not store any personal information. Billionaire hedge funder Ken Griffin has developed a reputation for spending big on real estate — setting new records from New York to Miami. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Fresh and trending news about Real Estate industry business, finance, ... Press question mark to learn the rest of the keyboard shortcuts. Ken Griffin's real estate purchases. Opinions expressed by Forbes Contributors are their own. Ken Griffith - Belle Property - Richmond - realestate.com.au A Florida native, Griffin has been strategically buying up the land that stretches from the ocean on one side to the lake on the other and with this new addition increases his beach frontage by about 30%, to approximately 1,100 linear feet. Hedge fund founder Ken Griffin (who Forbes currently estimates has a net worth of $12.8 billion) has expanded his ever-growing foothold in South Florida with a $99.13 million purchase of a 3.7-acre piece of land, according to the Palm Beach Daily News. The billionaire hedge funder’s investment property portfolio in glitzy locales reveals his strategy, one industry pro says Ken Griffin: Nobody Cares About Inflation, but They Should. 9 West Walton Street in Chicago (Google Maps), “Before, when he was buying everything in Palm Beach, everyone thought he was overpaying for everything, but he was actually getting very good deals,” said Gonzalez, who is with Berkshire Hathaway HomeServices EWM Realty and hasn’t represented Griffin. He had originally submitted plans to build a home that would stretch larger than a football field and included a design for exterior walls that would descend to below grade to create an indoor/outdoor living plan, but those plans were scrapped as he gained more acreage. As I hail from British background I divide my time between Washington D.C. and various parts of the U.K. depending on the weather. Now he’s selling at a loss. Ken Griffin founded and runs Citadel, a Chicago-based hedge fund firm that manages roughly $34 billion in assets. Global Conference at The Beverly Hilton Hotel on April 29, 2019 in Beverly Hills, California. Ken Griffin joins Citadel exec in giving another $1 million to boost internet access in Catholic ... Chicago Residential Real Estate Report - Scoops on Chicago's residential real estate … It is mandatory to procure user consent prior to running these cookies on your website. Billionaire hedge-fund executive Ken Griffin is selling both of his Miami Beach penthouses for at least a 20% loss, Katherine Kallergis reported for the Real Deal. All Rights Reserved, This is a BETA experience. In August 2020 an entity tied to Ken Griffin acquired the adjacent double lot with Miami Vice views In recent years, he spent a total of $350 million on multiple purchases in Palm Beach and $97 million in Miami Beach. September 2015: Griffin spent $60 million for two condos at Faena House at 3315 Collins Avenue in Miami Beach. Billionaire Ken Griffin has added to his pricey real estate roster. (Photo by Michael Kovac/Getty Images). Griffin … Necessary cookies are absolutely essential for the website to function properly. In Central London, he also dropped $122 million on a mansion. This latest purchase brings the number right into $350 million territory, easily surpassing Griffin’s other records of buying the most expensive homes: one in the U.S. (a New York penthouse for $238 million); a $122 million London property, reported as being the highest-priced London property purchase in over a decade; and four floors atop a Chicago condo building for $58.5 million, more than twice the next highest price on record of $18.5 million (set by Star Wars creator George Lucas and his wife). In 2015, Griffin paid a then-record $60 million for two penthouse units at the Faena House in Miami only to put them on the market the following year for $73 million. Griffin regularly makes national headlines for his real estate deals. In 2015, Griffin… Ken Griffin’s splurge on luxury real estate shows no signs of abating. Nelson Gonzalez, a residential agent who specializes in Miami Beach, said Griffin’s investments have been strategic and have paid off. Email tips and stories to amydobsonRE@gmail.com. Ken Griffin Slams Socialism and Government Spending. Covering everything from luxury homes to housing trends around the world. Billionaire hedge funder Ken Griffin has developed a reputation for spending big on real estate — setting new records from New York to Miami. Citadel hedge fund founder Ken Griffin has invested with another one-time Chicago entrepreneur who aims to disrupt the residential real estate industry. He reportedly planned to combine them but never did. The New King of the Opposition There’s only one man in Illinois with the money and political influence to rout Pritzker’s agenda — and that man, Ken Griffin, had a very good Election Day. In 1987, while many of his classmates at Harvard were out partying and living the stereotypical college life, a student named Ken Griffin was already focused Here’s a look at what we know about Griffin’s worldwide real estate buys: August 2020: Griffin paid $37 million for a vacant double-lot at 11 and 12 Star Island Drive on Miami Beach’s Star Island. The hedge funder’s latest purchase in Miami Beach’s exclusive Star Island has boosted his global residential real estate investment portfolio to nearly $1 billion. My work has appeared in The Washington Post, New York Times, San Francisco Chronicle, and a variety of other publications. Please Allow Javascript and reload this page. In January, he closed a $238 million purchase of an under-construction penthouse at 220 Central Park South in New York City. Billionaire hedge funder Ken Griffin has developed a reputation for spending big on real estate — setting new records from New York to Miami. Ken Griffin’s remarkable spending isn’t restricted to real estate. from Brown University and MHS from Johns Hopkins School Of Public Health. But opting out of some of these cookies may have an effect on your browsing experience. The units, one above the other, total 12,500 square feet. This year he purchased Calvin Klein’s oceanfront estate in the Hamptons for $84 million. You may opt-out by. The multi-billionaire hedge fund magnate Ken Griffin, who founded the Chicago-based Citadel Securities, has expanded his Star Island assemblage with the acquisition of 10 Star Island for $25 million. Real estate has been a main beat of mine for years now, having come by it honestly since I grew up working for my family's construction firm. The condo is a 23,000-square-foot quadplex encompassing the 50th through 53rd floors of the tower developed by Vornado Realty Trust, and designed by Robert A.M. Stern. Now he’s selling at a loss. All rights reserved © 2020 The Real Deal is a registered Trademark of Korangy Publishing Inc. This year he purchased Calvin Klein’s oceanfront estate in the Hamptons for $84 million. Round-up of top news and topics for each of the following cities: Editorially-curated headlines and news to know for the following areas: The numbers behind office leases, retail, sales and financing. Hedge Funds Ken Griffin’s Real-Estate Shopping Spree Sputters In Bargain-Basement Chicago Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. The entire parcel was already the largest in town when it was 17 acres; now that it is over 20 acres, few will be able to compete with the size of the expanse. Follow me @amyroseRE. The billionaire hedge funder’s investment property portfolio in glitzy locales reveals his strategy, one industry pro says, Citadel CEO Ken Griffin has been acquiring ultra-luxury residential properties around the world for a decade (Getty, iStock). Billionaire Ken Griffin has been on a decade-long, ultra-luxury real estate buying spree, one that not even a tumultuous economy amid a worldwide pandemic can slow. “And Miami Beach is still extremely undervalued.”. According to the Wall Street Journal, he was under contract in February to purchase a 7-acre compound in Southampton from Calvin Klein. We also use third-party cookies that help us analyze and understand how you use this website. The billionaire paid $238 million, making it … Free and clear: Vornado pays off debt at 220 CPS, At record-breaking 220 Central Park South, a unit just closed at $6,400 a foot, Against all odds: A by-the-numbers look inside Vornado’s 220 Central Park South, 220 Central Park South dominates NYC’s priciest resi sales of the year, Billionaire Ken Griffin parting with Faena House penthouses in Miami Beach at a loss, Tom Brady, Gisele Bündchen revealed as buyers of Indian Creek property, Karlie Kloss, Joshua Kushner revealed as buyers of Miami Beach mansion, Cher’s former Miami Beach mansion sells to Keith Menin for $17M. He broke a U.S. record when he paid $238 million for a massive Manhattan penthouse at 220 Central Park South and shattered a Chicago mark with a $58 million condo splurge. His exact plans for these 20 acres has not been disclosed. This month, Griffin paid $37 million for a double-lot on mansion-filled Star Island, adding to his appetite for real estate in the glitziest locales around the globe. My work has appeared in The Washington Post, New York Times, San Francisco Chronicle, and a variety of other publications. November 2017: His $58.5 million purchase for the top four floors at 9 West Walton Street in Chicago made it the highest-priced home sale in the Chicago area. If he is doing this just to flip the properties, he’s going to make a loss. Billionaire hedge funder Ken Griffin has developed a reputation for spending big on real estate — setting new records from New York to Miami. January 2017: Griffin bought this Central London mansion for $122 million. This $99.13 million transaction is the second-highest on record for Palm Beach, according to the Daily News, outranked only by a $105 million sale in July to anonymous buyer shielded by an LLC. 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