Billionaire hedge fund manager Kenneth Griffin, CEO of investment firm Citadel, has spent close to $300 million on residential real estate, setting record-high sales prices in three major metros.
The New York Times has the story:
The buying binge includes the purchase last year of two full floors of the Waldorf Astoria hotel in Chicago, the city where Citadel is based and where Mr. Griffin, 46, has his main residence. He paid $13.3 million for the 37th floor and $16 million for the 46th floor, totaling just under $30 million. If combined, the deal would be the most expensive real estate purchase in Chicago.Sponsor Content
In New York this year, Mr. Griffin agreed to purchase three full floors — totaling over 18,000 square feet — at 220 Central Park South, the condo tower under construction in Midtown. According to people familiar with the deal, the purchase includes a main residence as well as several other apartments that could be used for staff or guests. Mr. Griffin paid around $200 million for the space — a price that brokers say is a record in New York.
Mr. Griffin is also making waves in Miami. According to people familiar with the deal, Mr. Griffin closed last month on the penthouse of Faena House in Miami Beach for $60 million — a record for Miami and $10 million over the original asking price. Faena House, a luxury condo tower on Collins Avenue, has an in-house spa, a fitness center, a private club, a concierge service and a round-the-clock doorman.
The penthouse is more than 12,500 square feet and has a media room, great room and dressing room, as well as a 70-foot-long infinity pool on its 9,900-square-foot terrace. The unit went into contract more than a year ago, when the building was still under construction, but just closed in September.
Mr. Griffin already owns homes in Aspen, Colo., and Hawaii.
Why is Mr. Griffin spending so much on real estate?
Read the full story here.