The Real Deal New York

Billionaire hedge funder Ken Griffin wants to flip his Miami penthouse for $73M

Faena House units, which were never combined, also marketed separately for $55M and $18M

January 28, 2016 05:52PM
By Ina Cordle

Ken Griffin and the Faena House in Miami, Florida,

Ken Griffin and the Faena House in Miami Beach

From the Miami website: After buying a penthouse at the Faena House for $60 million last year in Miami-Dade’s top residential purchase, billionaire hedge funder Ken Griffin has put the property back on the market for $73 million.

Griffin never combined the duplex unit — with a top-floor penthouse and a smaller unit below it — into the 12,500-square-foot Miami Beach residence he planned. So now he is listing both units separately: $55 million for the upper floor unit and $18 million for the lower one, Eloy Carmenate, executive director of Douglas Elliman, told The Real Deal. The units can be sold separately or together, Carmenate said.

When originally approached by TRD on Tuesday, Carmenate denied Griffin’s property was back on the market.

The top-floor penthouse features five bedrooms and five-and-a-half bathrooms spanning 8,270 square feet. It also has a rooftop pool deck with a 71-foot infinity edge pool, Carmenate said. The smaller unit measures 4,240 square feet, according to the Wall Street Journal, which first reported the deal on Wednesday.

Carmenate and Mick Duchon, who is also with Douglas Elliman, are marketing the property worldwide. An email blast is going out soon to all Knight Frank contacts, Carmenate said.

“In the next hour it’s going to be in Monaco, London and all over the United States,” Carmenate told TRD.

Griffin closed on his $60 million purchase of the two units in September. At the time, his purchase broke all residential records in Miami and heralded a wave of ultra-wealthy finance executives who purchased units in the newly completed Faena House at 3315 Collins Avenue in Miami Beach.

The initial purchase price broke down to about $4,794 per square foot. Now, Griffin wants $6,650 per foot for the larger unit and $4,245 per foot for the smaller.

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