Real Estate

Man Who Bought Record-Setting Miami Condo Also Set Real-Estate Marks in Chicago, New York

Last month brought news that the penthouse at the Faena House development on Miami Beach was sold for $60 million, making it the most expensive residential property ever bought in Miami, shattering the previous record by a cool $11 million. To Miamians, it was an astounding amount of money. To the man who bought it, well, it was a casual purchase. The $60 million was relative pocket change to him. 

So who is this guy? The New York Times reports that he's hedge fund manager Ken Griffin. The Faena House purchase was just the latest part of a two-year splurge on residential real estate that has totaled close to $300 million. In fact, Griffin has also recently set residential real estate purchase records in both New York City and Chicago as well. 

Oh, and this isn't the first time Griffin has set a real estate record in Miami either. Oh no, this is his second time in the past four years shattering a local record. That's how rich this guy is. 

Griffin is actually a South Florida native. He was born in Daytona Beach but mostly grew up in Boca Raton. Naturally, he is the grandson of a woman who ran a successful oil business. He attended Harvard and in his dorm room set up his first hedge fund with $265,000 in seed money from friends, family, and his grandmother. He's never looked back. He's currently the CEO of international investment firm Citadel and is worth an estimated $6.6 billion dollars. 

He's certainly been putting that money to use lately. 

In addition to the Miami purchase, he also recently snagged two floors of the Waldorf Astoria Hotel in Chicago for a combined total of $30 million, which would be a Windy City record with the floors combined. Citadel is based in Chicago, and, naturally, Griffin already has another main residence in the city. 

In New York, he also bought up three full floors of the currently under-construction 220 Central Park South. The price? About $200 million. That too would be a record for New York City. Naturally, Griffin won't live there either. 

"People familiar with the deal say Mr. Griffin doesn’t plan to live in his new space at 220 Central Park South, since he recently renovated another apartment in Manhattan," reports the Times

Oh, and the guy also has homes in Aspen, Colorado, and Hawaii. In 2013, he also reportedly bought four homes in Palm Beach for a combined $130 million

There's also no word on whether Griffin is planning on spending time in his new Miami mega-penthouse or if it's just an investment. Though, he already has one pad in Miami.

He also owns the 6,209-square-foot duplex penthouse at the Setai Resort and Residences. He snagged that up for $21.5 million back in December 2011. At the time, it set a record for the most expensive condo ever sold in Miami. That record only stood for a few months before another penthouse sold for $25 million, but he now once again holds that title. 

So, what's with all of these purchases? Well, Griffin is going through a divorce. In fact, in the time between writing and publishing this story, the Wall Street Journal reported that he's now officially settled that divorce. Hiss ex-wife is Anne Dias, who herself is a former hedge fund manager. Details of the settlement haven't been released. Though, it officially ends a marriage that started 12 years ago at a lavish ceremony held at the French palace of Versailles of all places. 

Of course, divorce or not, Griffin does have a lot more in the bank recently. Of that $6.6 billion fortune, $3.9 billion of it was made between 2009 and 2013 alone.
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Kyle Munzenrieder