Hedge-fund billionaire Ken Griffin has shattered the Miami price record, shelling out $106.875 million for a waterfront estate.
It's the most ever paid for a home in Miami-Dade County, and records show Griffin stole the record from himself. Last year, he set the previous all-time high when he dropped $75 million on a home on Star Island, a man-made island in Biscayne Bay.
This one sits a few miles away in Coconut Grove, an affluent enclave where celebrities such as LeBron James and Sylvester Stallone have owned homes.
Griffin is best known as the founder and chief executive of Citadel, a global hedge fund with more than $30 billion in assets. The move comes shortly after he announced that he was relocating the company from Chicago to Miami.
The seller is Adrienne Arsht, a businesswoman and philanthropist who listed the home for $150 million in January. Arsht made a hefty profit on the sale; records show she paid $4 million for the property in 1996.
Spanning four acres with 400 feet of water frontage, the compound includes two homes: a Mediterranean Revival-style mansion built in 1913 known as Villa Serena, and a newer home built in 1999 known as Indian Spring. Together, they combine for more than 20,000 square feet.
Restored in recent years, Villa Serena claims a spot on the National Register of Historic Places. It features three bedrooms and grand living spaces lined with Cuban tile floors.
Indian Spring is the larger of the two; it boasts five bedrooms, five bathrooms, an office, chef's kitchen, salon, gym and garden room overlooking a terrace. Patios extend the living space outside, leading to a swimming pool and spa.
Both mansions open to grassy lawns that descend to a private dock on Biscayne Bay. The compound also includes a guesthouse, tennis court and two garages.
Ashley Cusack of Berkshire Hathaway HomeServices EWM Realty held the listing. Jill Hertzberg represented Griffin.
Miami isn't the only place Griffin has set a price record. In 2019, he shelled out $238 million for a New York penthouse — the most ever paid for a home in the U.S.
