Ken Griffin Adds Apartments, Parking to Brickell Development

Ken Griffin’s footprint on Miami is growing along Biscayne Bay.

The Citadel founder and CEO revised his proposal for a 2.5-acre site at 1201 Brickell Bay Drive, adding a 300-unit apartment building and 1,420-space parking garage next to another office building he owns, Bloomberg reported.

Griffin also bought up all the units of a 22-story condominium across the street, which he plans to demolish for future development. That buyout puts him just one property away from conquering the entire block, the outlet said.

The development includes a 54-story, 1.7 million square-foot-office building, which will serve as headquarters for Citadel and Citadel Securities. In April, Griffin nixed a hotel planned for the supertall to make way for more office space, The Real Deal previously reported.

The proposal follows a public clash with NYC Mayor Zohran Mamdani over a proposed 5 percent pied-à-terre tax. In April, Mamdani criticized Griffin — who bought a $238 million penthouse at 220 Central Park South in 2019 — for holding NYC assets while living elsewhere.

In response, Griffin vowed to make his Miami plan more ambitious, though the Brickell supertall office expansion had already been planned.

The skyscraper will sit on a 2.5-acre site at 1201 Brickell Bay Drive, which Griffin bought for $363 million in 2022. Related Companies is partnering with him on the project.

Griffin is still considering building a hotel across from the supertall, the outlet said.

Griffin and his company moved to Miami from Chicago in 2022. He has since spent over $1 billion acquiring waterfront estates, commercial developments and land from Miami to Palm Beach.

With a net worth of $50.3 billion, according to Forbes, Griffin is widely considered one of the most influential billionaires in South Florida.

— Grace McClung