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

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
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
“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
Bank of China issues $500M to Vornado in refi of 640 Fifth Avenue
Andrew Penson and SL Green in fight to control Times Square hotel
Andrew Penson and SL Green in fight to control Times Square hotel
Andrew Penson and SL Green in fight to control Times Square hotel
Renderings of 2 Penn with Vornado CEO Steven Roth and MSG Entertainment CEO James Dolan (Vornado, Getty)
MSG Entertainment re-ups at Vornado’s 2 Penn for 428K sf
MSG Entertainment re-ups at Vornado’s 2 Penn for 428K sf
Boston Properties’ Owen Thomas, Vornado Realty Trust’s Steve Roth, Paramount Group’s Albert Behler, SL Green’s Marc Holliday and Empire Real Estate Trust’s Tony Malkin  (iStock, slgreen.com, vno.com, paramount-group.com, esrtreit.com, LinkedIn)
Office landlords profess optimism despite dip in occupancy
Office landlords profess optimism despite dip in occupancy
Vornado Realty Trust CEO Steven Roth with 220 Central Park South (Getty)
Vornado’s 220 Central Park South approaches $3B in total sales
Vornado’s 220 Central Park South approaches $3B in total sales
Governor Kathy Hochul (Getty)
Hochul downsizes Cuomo’s Penn Station plan
Hochul downsizes Cuomo’s Penn Station plan
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...