With billionaire Citadel boss Ken Griffin having moved his company and his residence to Miami, the hedge fund magnate now has been revealed as the mystery buyer who on Aug. 8 paid a local record price — $106.87 million — for a 4.19-acre waterfront estate in Miami’s Coconut Grove area.
Griffin, who recently placed four of his seven Chicago condominiums on the market for prices ranging from $11.5 million to $15.75 million, has set the record for the highest price ever paid for a single-family home in Miami-Dade County.
Griffin bought the estate from businesswoman and philanthropist Adrienne Arsht, who first placed the estate on the market in January for an eye-popping $150 million.
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Arsht bought some of the land in 1996, and in 1999 she constructed the estate’s main 12,000-square-foot residence, which is known as Indian Spring and which has five bedrooms, 4 ½ bathrooms, another two bedrooms in a guest suite, a six-car garage and a tennis court. Also on the estate — and connected to Indian Spring via a stone path — is a vintage 5,200-square-foot home known as Villa Serena, which was built in 1913 for onetime U.S. Secretary of State Williams Jennings Bryan and has a living room, dining room and sitting rooms. Completing the compound is a two-bedroom guesthouse atop a three-car garage.
After buying Villa Serena in 2007, Arsht spent four years renovating the Mediterranean Revival-style home, according to news accounts.
With his new purchase, Griffin, who owns numerous other properties in South Florida, now has a compound with 12 bedrooms, 17 bathrooms and a total of 19,919 square feet.
The estate is just steps from the late industrialist James Deering’s waterfront Villa Vizcaya estate, which is now a museum and gardens.
Among Griffin’s other real estate in Miami are a set of condos he bought in 2015 in the Faena House development for $60 million and a 2.5-acre waterfront development site that he bought for $363 million in April and that likely will be Citadel’s future home.
The Real Deal first reported on Griffin’s purchase.
Goldsborough is a freelance reporter.
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