The Real Deal Miami

Chicago hedge fund CEO buys Palm Beach mansion for $15.2M

Affiliated companies own four additional properties on the street

July 01, 2015 04:30PM
By Katherine Kallergis

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70 Blossom Way in Palm Beach

70 Blossom Way in Palm Beach

A non-waterfront estate in Palm Beach sold for more than five times its last sale price, adding to a Chicago hedge fund CEO’s multimillion dollar Palm Beach portfolio, according to a family spokesperson. 

Tracy Kamenstein Markin sold the 8,421-square-foot mansion for $15.2 million.

CPPB Holdings, a Chicago-based company tied to Citadel founder and CEO Kenneth Griffin, was the buyer. Citadel is an international hedge fund and asset manager. A representative from Griffin’s family office, Molly McEvily, is listed on the deed.

A company tied to Griffin owns the properties at 20 Blossom Way, 30 Blossom Way, 40 Blossom Way, and 50 Blossom Way. The LLCs acquired those four sites for nearly $130 million in January 2013, according to the Palm Beach Daily News.

The seller was married to the late David R. Markin, a business executive and philanthropist who was the former owner of Checker Motors Corp.

The Markins paid $2.65 million for the home in 1992, according to Palm Beach property records. Sotheby’s International Realty had the listing. The 1.45-acre property, at 70 Blossom Way, includes four bedrooms, six bathrooms, a pool and tennis courts.