Ken Griffin adds to Star Island assemblage with $25M purchase: sources

Citadel founder also owns massive assemblage in Palm Beach, penthouses at Faena House

Miami /
Dec.December 04, 2020 02:52 PM
Ken Griffin and lots on Star Island Drive (Citadel, Google Maps)

Ken Griffin and lots on Star Island Drive (Citadel, Google Maps)

 

Billionaire hedge fund manager Ken Griffin has purchased another property on Star Island, likely completing his assemblage there, The Real Deal has learned.

Griffin acquired 10 Star Island Drive for $25 million, according to sources. A deed for the transaction shows Star West Property LLC sold 10 Star Island Drive to Florida Way Charter LLC, a Delaware company.

All told, Griffin has likely spent about $95 million on the Star Island properties. A company tied to the Citadel founder and CEO paid $37 million for the double lot at 11 and 12 Star Island Drive in August. He’s also reportedly the buyer of 13 Star Island Drive, which was previously linked to Jennifer Lopez and Alex Rodriguez. That deal closed for $32.5 million.

The Star Island assemblage isn’t the first for Griffin in South Florida: He’s spent more than $350 million on land in Palm Beach, on top of the $60 million he paid for two penthouses at Faena House. His Chicago-based hedge fund began operating a temporary trading room in Palm Beach at the start of the pandemic, and Griffin, a Daytona Beach native, has donated tens of millions of dollars to the expansion and renovation of the Norton Museum of Art in nearby West Palm Beach.

Griffin, who’s worth about $15 billion, owns some of the most expensive residential properties around the world, including in Manhattan, Chicago and London. In 2019, he closed on a $240 million apartment at New York City’s 220 Central Park South, breaking the record for the most expensive residential transaction recorded in the U.S.

The ultra-luxury single-family home market has been incredibly active in Miami Beach and Palm Beach in recent months. On Star Island alone, former U.S. ambassador Paul Cejas sold his waterfront mansion to a private equity investor for $20.1 million in September, and the mansion at 14 Star Island Drive closed for $24 million.





    Related Articles

    arrow_forward_ios
    Edition Residences unit 901 (Abraham Henandez)
    Edition in Miami Beach tops Miami-Dade’s weekly condo sales
    Edition in Miami Beach tops Miami-Dade’s weekly condo sales
    Akoya and Oceana Bal Harbour (Google Maps)
    Miami-Dade’s condo sales show a summer slump
    Miami-Dade’s condo sales show a summer slump
    (Photo Illustration by The Real Deal with Getty Images)
    Want more South Florida land? Buy out your neighbors
    Want more South Florida land? Buy out your neighbors
    1201 Brickell Bay Drive, Citadel's Ken Griffin and 830 Brickell office tower in Miami (Google Maps, OKO Group and Cain International, Illustration by Priyanka Modi for The Real Deal with Getty)
    Mapping out Ken Griffin’s Miami shopping spree
    Mapping out Ken Griffin’s Miami shopping spree
    Frank Pellegrino Jr. with Loews Miami Beach and Loews Hotel owner Jonathan Tisch (Rao's, Google Maps, Getty)
    Iconic NYC eatery Rao’s to open at Loews Miami Beach
    Iconic NYC eatery Rao’s to open at Loews Miami Beach
    Citadel's Scott Hazard and Ken Griffin with Southwest 94th Street in Pinecrest (1Oak Studio, LinkedIn, Getty)
    Citadel migration continues: Exec buys Pinecrest home for 91% markup
    Citadel migration continues: Exec buys Pinecrest home for 91% markup
    17141 Collins Ave, Sunny Isle
    Muse Residences in Sunny Isles Beach tops weekly condo sales
    Muse Residences in Sunny Isles Beach tops weekly condo sales
    Ken Griffin and 1250 Brickell Bay Drive in Miami (Getty Images, Google Maps)
    Ken Griffin’s Brickell takeover: Citadel adds to its properties with $20M purchase
    Ken Griffin’s Brickell takeover: Citadel adds to its properties with $20M purchase
    arrow_forward_ios

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

    Loading...