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

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

Miami /
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

arrow_forward_ios
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
 Adam Neumann (Getty, Bal Harbour Florida)
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Alex Sapir and Giovanni Fasciano with Arte by Antonio Citterio in Surfside (Photos via Arte by Antonio Citterio/PR Newswire)
Miami penthouse sets cryptocurrency sale record: $22.5M
Miami penthouse sets cryptocurrency sale record: $22.5M
Daniel Sundheim and 2850 Tigertail Ave (Getty/Patrick McMullan, Related)
Daniel Sundheim’s D1 Capital Partners inks 10-year Miami office lease
Daniel Sundheim’s D1 Capital Partners inks 10-year Miami office lease
(iStock)
South Florida resi construction starts soar in March
South Florida resi construction starts soar in March
Eden Multifamily heads Jay Massirman and Jay Jacobson with Cypress Equity Investments CEO Michael Sorochinsky (rendering courtesy of MSA Architects)
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
(iStock)
Home prices across globe hit records, prompting worries of bubble
Home prices across globe hit records, prompting worries of bubble
Steven and Beth Millner with One Thousand Ocean (Patrick McMullan/Getty, Google Maps)
Private equity honcho pays $5M for Boca Raton condo
Private equity honcho pays $5M for Boca Raton condo
arrow_forward_ios

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

Loading...