Hedge funder Ken Griffin snags $49M mortgage for Palm Beach estate

Griffin has spent about $350 million on Palm Beach properties

TRD MIAMI /
Apr.April 16, 2020 10:30 AM
Ken Griffin and 60 Blossom Way (Credit: Google Maps)

Ken Griffin and 60 Blossom Way (Credit: Google Maps)

Hedge funder Ken Griffin scored a $49 million mortgage for one of his oceanfront estates in Palm Beach.

Providencia Partners, tied to Griffin, secured the loan from Citibank for his estate at 60 Blossom Way, records show. Griffin, the founder of Chicago-based Citadel Securities, paid $99.1 million for the 18,452-square-foot mansion in September. It is next to Griffin’s 12-acre property at 1265 South Ocean Boulevard, which he bought for $85 million in 2017, records show.

When Griffin acquired the 60 Blossom Way mansion last year, he did not take out a mortgage, meaning that he could be securing a mortgage now to take advantage of record-low interest rates or to free up his cash.

A spokesperson for Citadel declined to comment.

Griffin purchased the property from billionaire real estate investor Frank McCourt, the former owner of the Los Angeles Dodgers. At the time, it marked the second most expensive residential sale in history for the exclusive island. McCourt had paid $77 million for the mansion in 2017.

The home was built in 2008, and has eight bedrooms, pools, a separate dining pavilion, and hardwood and marble finishes.

Griffin has spent a total of about $350 million on properties in Palm Beach, records show.

He has also purchased residential properties elsewhere. Last year, he spent a record $238 million to buy a penthouse at 220 Central Park South in Manhattan.

Griffin made news this month for setting up a trading room for Citadel Securities at the Four Seasons Resort Palm Beach, prior to the county’s order closing all hotels in Palm Beach County. Griffin flew in traders and staff from his New York and Chicago offices to work out of the temporary trading floor.


Related Articles

arrow_forward_ios
Mark Freitas and 201 El Vedado Road (Mark Edwards Partners, Google Maps)

Insurance tycoon sells Palm Beach mansion for $21M

Insurance tycoon sells Palm Beach mansion for $21M
Michael Aram and Aret Tikiryan with 135 Seminole Avenue, Palm Beach (Patrick McMullan/Getty, Realtor)

Imagine the decor: Michael Aram buys Palm Beach house for $5M

Imagine the decor: Michael Aram buys Palm Beach house for $5M
Andy Unanue & 111 El Brillo Way (Credit: Google Maps)

Goya Foods heir buys Palm Beach mansion for $11M

Goya Foods heir buys Palm Beach mansion for $11M
Carl Esrey & 119 E Inlet Drive (Credit: Google Maps)

Real estate financier drops $6M on Palm Beach home

Real estate financier drops $6M on Palm Beach home
The late Kate Ford with 300 North Lake Way (Credit: William Jacobellis/New York Post Archives /(c) NYP Holdings, Inc. via Getty Images, and Google Maps)

Ford family estate in Palm Beach lists for $58M

Ford family estate in Palm Beach lists for $58M
Donald Burns and 1021 North Ocean Boulevard (Twitter, Realtor)

Telecom tycoon sells Billionaires Row teardown in Palm Beach for $28M

Telecom tycoon sells Billionaires Row teardown in Palm Beach for $28M
From left: The Bristol in West Palm Beach; 6431 Pine Tree Drive Circle, Miami Beach; 2325 Desota Drive, Fort Lauderdale; and 12520 Seminole Beach Road, North Palm Beach (Realtor, iStock)

South Florida signed resi contracts up in September: Elliman

South Florida signed resi contracts up in September: Elliman
11750 Turtle Beach Road, North Palm Beach (Realtor)

Billionaire businessman sells North Palm Beach mansion for $19M

Billionaire businessman sells North Palm Beach mansion for $19M
arrow_forward_ios

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

Loading...