Buyer revealed: Billionaire hedge funder picks up $26M South Beach penthouse

AQR Capital Management co-founder Cliff Asness is reportedly worth $3.8B

May.May 24, 2018 03:39 PM

321 Ocean and Cliff Asness

A company tied to AQR Capital Management co-founder Cliff Asness is the buyer of a penthouse at 321 Ocean that sold last week for $26 million, property records reveal.

Skurge LLC, a Delaware company that lists a Greenwich, Connecticut address, purchased the five-bedroom, 6,807-square-foot penthouse at 321 Ocean Drive from Russian venture capitalist Boris Jordan in what is the most expensive condo sale of the year.

Records show Asness controls a recently incorporated Florida company with the same address. Voter records show the Greenwich address is the home of Asness and his wife Laurel.

Forbes pegs Asness’ net worth at $3.8 billion. He co-founded AQR with John Liew, David Kabiller and Robert Krail in the late 1990s. As of the end of the year, the investment firm had more than $224 billion in assets under management, according to its website.

Liew’s wife recently paid $13.5 million for a unit at the nearby Apogee in South Beach. The buildings are less than a mile away from each other. Liew is worth about $1.25 billion, according to Forbes.

The 321 Ocean unit sold for more than $3,800 per square foot, but it was originally listed for double that amount. The sellers, Jordan and his wife Elizabeth, tried to flip the penthouse unit for $53 million in 2015, the same year they purchased it for $20 million. It was relisted last year for $35 million.

Douglas Elliman’s Bill Hernandez and Bryan Sereny listed the unit. Eloy Carmenate and Mick Duchon, also of Elliman, represented the buyer, whom they declined to identify.

Related Articles


Construction of downtown Hollywood high-rise may start soon

Jeffrey Epstein commits suicide by hanging himself in his Manhattan jail cell

Miami developer Dan Kodsi plans large St. Petersburg project that could cost $2B

South Florida firm buys Sunrise apartment complex for $20.2M

Home owned by late Miami Marlins pitcher Jose Fernandez is in foreclosure

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

PB Gardens condo community seeks yet another contractor to repair its buildings

Pompano upzones Ocean Boulevard site for 19-story condo next to city park