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Citadel hedge fund exec buys Palm Beach home for $10M
Citadel has a temporary trading room at the Four Seasons Palm Beach
Esure insurance founder and chairman Peter J. Wood sold a Palm Beach home to Edwin Lin, who heads Citadel’s global fixed income practice.
Wood, an English multimillionaire businessman, sold the 6,278-square-foot house at 113 Clarke Avenue for $9.65 million, or $1,537 per square foot. Lin and his wife, Vivian Chiu of New York, purchased the property, records show.
Meanwhile, Lin and Chiu are listing their home at 215 Seabreeze Avenue in Palm Beach for $4.65 million.
Wood paid $10.13 million for the Clarke Avenue house in 2007, and sold it for about half a million dollars less than that. The five-bedroom, six-and-a-half bathroom house was relisted last year for nearly $12 million. It sits on less than half an acre of non-waterfront land.
Christian Angle of Christian Angle Real Estate represented Wood, while Dana Koch of the Corcoran Group brought the buyer. Koch is also listing the house on Seabreeze.
Lin has worked at Chicago-based Citadel, billionaire Kenneth Griffin’s hedge fund, since May 2011, according to his LinkedIn. Griffin has assembled at least 19 acres of land for a massive estate along Blossom Way and South Ocean Boulevard in Palm Beach, spending roughly $350 million on a number of properties. Griffin, a Daytona Beach native, also owns pricey homes in New York City and Chicago.
Early on in the pandemic, Griffin set up a trading room for his Citadel Securities at the Four Seasons Resort Palm Beach, flying in traders and staff from his New York and Chicago offices to work out of the temporary trading floor.
The high-end Palm Beach market has been on fire over the past few months, with a number of big-ticket sales closing during the coronavirus pandemic. In June, two Palm Beach estates sold for more than $70 million.
The following month, rock star Jon Bon Jovi closed on an oceanfront mansion at 1075 North Ocean Boulevard for $43 million, after selling his home at 230 North Ocean Boulevard for $19.8 million.
Write to Katherine Kallergis at kk@therealdeal.com