If the rumors are true, the billionaire hedge fund manager Ken Griffin has purchased yet another pile in Palm Beach, FL, to add to his super-luxe real estate portfolio.
This time, according to the Palm Beach Post, Griffin has apparently picked up a massive property next to his 17-acre oceanfront estate, to the tune of $99.13 million. This adds some 320 feet to his beach frontage. In total, his holdings give him almost a quarter-mile of beachfront property, the publication notes.
Property records show the listing as off-market. But it was last purchased through a trust for $77 million in 2017, by former Los Angeles Dodgers owner Frank H. McCourt Jr. If the financier did just manage to sell it, that’s quite a profit he’s pocketed.
And, although Griffin appears to like making real estate records, this deal would only be the second most expensive in the Palm Beach area, according to the Palm Beach Post.
Built in 2000 on 3.59 acres, the massive, 18,452-square-foot abode includes eight bedrooms, eight baths, and two half-baths.
When it comes to megamansions in the poshest of markets, money appears to be no object for the founder of Citadel.
Griffin, who is 50, made real estate headlines in January with the purchase of a four-floor, $238 million New York City penthouse at 220 Central Park South, setting a record for the most expensive home ever sold in the United States, according to the Wall Street Journal.
But the record shattering didn’t stop at the Hudson River. Griffin appears to be on a real estate roll. The spree included reportedly picking up several floors of a Chicago condo for $58.75 million, a record for that city. And he reportedly also purchased a $122 million London home, one of the most expensive deals for that city.
“This exemplifies the proliferation of the hundred-million-dollar plus listing and sales market over the last five years, from being a rarity to more than 32 listings around the world in that price range,” says San Francisco luxury real estate agent Joel Goodrich. “It is also one of the ultimate examples of what we call international home collectors, who buy trophy properties around the world.”
This high-flying hobby is one Griffin can well afford. Forbes listed him as the 45th richest American, with a net worth of $12.7 billion.
The Florida native got his start trading out of his Harvard dorm room. He founded his global investment firm in 1990.
The post Billionaire Investor Ken Griffin Reportedly Buys $99M Palm Beach Estate appeared first on Real Estate News & Insights | realtor.com®.