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

TRD New York /
Jan.January 28, 2016 05:52 PM

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.


Related Articles

arrow_forward_ios
Vornado's Steve Roth and 220 Central Park South (Credit: Getty Images, iStock)

Free and clear: Vornado pays off debt at 220 CPS

Vornado chairman and CEO Steven Roth, and 608 Fifth Avenue (Credit: Getty Images)

“Negative surprises”: Vornado execs talk retail struggles on Q2 earnings call

Steven Roth, CEO of Vornado and 640 Fifth Avenue (Credit: Getty Images and Vornado Realty Trust)

Bank of China issues $500M to Vornado in refi of 640 Fifth Avenue

Clockwise from left: 1290 Sixth Avenue, 40 Wall Street, President Donald Trump, Trump National Doral in Miami and Trump International Hotel in Washington, DC (Credit: Getty Images, Vornado, Wikipedia)

Trump Org’s office holdings help offset hotel losses: analysis

From left: Jeff Bezos with 212 Fifth Avenue and Ken Griffin and Sting with 220 Central Park South (Credit: Getty Images, StreetEasy)

Records, records and more records: Resi deals set higher bar in 2019

220 Central Park South and Vornado chairman Steven Roth (Credit: Google Maps, Getty Images, iStock)

At 220 CPS, three deeds in one day fetch $150M

Steve Roth and Miki Naftali with 1167 Madison Avenue and 50 East 86th Street (Credit: Google Maps)

Naftali buys two vacated Vornado properties for $71M

Steve Roth and 512 West 22nd Street (Credit: Getty Images)

E-commerce company inks pricey deal at Vornado’s High Line office space

arrow_forward_ios
Loading...