Real Estate

Miami's Most Expensive Condo Back on Market for $73 Million

Last year, hedge fund billionaire Kenneth Griffin set Miami real-estate records when he purchased the penthouse at the Faena House in Mid-Beach for $60 million. It was the most expensive residential real-estate transaction in Miami-Dade history and the single most expensive home sale in America in 2015. 

Griffin, a Florida native who primarily lives in Chicago, is already putting the property back on the market, according to the Wall Street Journal. He's listing his Faena House haul as two properties: the penthouse and an adjoining condo. 

The five-bedroom penthouse is being listed for $55 million. The condo directly beneath it is being listed for $18 million. 

Griffin is worth an estimated $7 billion and finalized a contentious divorce last year. He also went on a head-scratching real-estate buying spree. In addition to the Faena House property, he also bought condos that shattered price records in Chicago and New York City. The total tab for his purchases came to around $200 million. Many thought those properties were investments, but apparently he's not in it for the long haul in Miami (though he also owns other properties in South Florida). Though, if he gets the asking price for both units, that's still a tidy profit of $13 million. 

The listings are being handled by Eloy Carmenate and Mick Duchon of Douglas Elliman Real Estate.

The penthouse is certainly a billionaire's dream beach condo. It sits atop the 18-story condo building, and in addition to boasting five bedrooms, it has two kitchens, a private elevator, a media room, and glass walls to take advantage of the view. The real treasure, however, is the spacious wrap-around balcony, which features a private pool. 
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Kyle Munzenrieder