Ken Griffin Sells Miami Beach Penthouses At A Loss

Hedge fund billionaire and real estate aficionado Ken Griffin is selling two Miami Beach penthouses in the super exclusive Fenna House development. He bought the townhouse five years ago and recently sold them at a loss of at least 20%. They sold the larger penthouse for $ 35 million and the smaller unit is on contract for an undisclosed sum, but was on the market for $ 12.5 million. Griffin bought both units for $ 60 million in 2015. If the smaller unit receives its asking price, it will be $ 47.5 million, 20% less than the total payment.

Griffin was born in Daytona Beach, Florida in 1968 and attended Harvard, where he managed a multi-million dollar fortune during college by trading stocks and bonds. After graduating from college in 1990, he launched Citadel LLC, a Chicago-based hedge fund. Today, he has a net worth of $ 16 billion.

Miami’s pent at Fena House comes with a variety of perks, including a attendant, private concierge service, spa and fitness center, two pools and a private beach club with cabana service. The building is home to several wealthy financial sector executives, including former Goldman Sachs CEO Lloyd Blankfin, hedge fund manager Jamie Dinan and Alan Howard, and managing director of Chieftain Capital Management, Thomas Stern.

When Griffin bought the Panna House of Faena House, it was the most expensive house in South Florida. He was finalizing his divorce at that time. The large condo is located on the entire top floor of the building. Glass-walled condos have 12,516 sq ft of space. The large penthouse has a 70-foot infinity pool on a 9,900-square-foot terrace.

Griffin has been on an immovable property for the past eight years. He has purchased $ 350 million worth of houses on Billionaires Row in Palm Beach alone. Reportedly, he plans to build a huge beachfront mansion on the joint properties. In 2014, he paid $ 29.3 million for two condos at 46Th And 37Th Floors of Chicago’s Waldorf Astoria Tower. He purchased four floors of the No. 9 Walton building in Chicago for $ 58.75 million at the end of 2018. In early 2019, he bought a $ 122 million mansion in London and a penthouse at 220 Central Park South in Manhattan for $ 238 million. Later that same year, he bought two more condos at 220 Central Park South for $ 4 million. In February 2020, he paid $ 100 million for the former Hampton home to Calvin Klein. In August, he paid $ 37 million for two vacant lots on Star Island, Florida.

Originally, Griffin has spent more than $ 700 million on real estate in Chicago, Florida, New York and London since 2012. Griffin also has homes in Aspen and Hawaii. Some men date middle age and young women and drive attractive sports cars. Ken Griffin is just spending crores on condos and homes – which, let’s face it – is a better investment.

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