The Real Deal New York

Kenneth Griffin’s $300M residential spending spree

Sources confirm that Griffin spent $200M at 220 Central Park South
October 04, 2015 03:00PM

Billionaire hedge fund manager Kenneth Griffin seems to have taste for tony homes. Over the last two years, the Citadel CEO has gone on a tremendous residential buying spree, setting records in three different cities.

Last year, Griffin bought two full floors of the Waldorf Astoria hotel in Chicago — where Citadel is based — paying $13.3 million for the 37th floor and $16 million for the 46th floor. Taken as single purchase, it is the most expensive residential purchase in Chicago history, according to the New York Times.

Last month in Miami, Griffin purchased a penthouse in Faena House for $60 million — a record for Miami. He reportedly paid $10 million over the asking price.

And in NYC, Griffin took three full floors 220 Central Park South, totaling around 18,000 square feet. Unnamed sources told the Times that he paid around $200 million for the space – which would be a record for the city.

The sources added that the 220 Central Park South buy is most likely an investment and that Griffin recently renovated another apartment in Manhattan for a quick flip.

Citadel itself made news last month when it signed a record $300 a square foot lease for the penthouse portion of 425 Park Avenue. [NYT] Christopher Cameron