Ken Griffin Pays Record $107 Million for Exquisite Miami Dade Luxury HomeSeptember 9, 2022
It was only seven months since it first went up for sale, with an staggering $150 million asking. A lavish South Florida compound that Adrienne Arsht, a businesswoman and philanthropist, sold for $106.9M. This is a new record for the most expensive single-family residential transaction within Miami-Dade County. It surpasses Ken Griffin’s December 2021 purchase of a Star Island home for $75M.
Records show that Ken Griffin is the new owner. He has now broken the record he established less than a decade ago. Griffin is the founder of Citadel Global Alternative Investment Firm and the CEO. It is widely believed that he has a net worth in excess of $26 billion.
The real deal first reported the transaction. Griffin spent over $350 million to build residential land in Palm Beach. Citadel will also open an office there. He also purchased several waterfront properties in Coral Gables and Star Island. His firm also spent hundreds and millions of dollars this year on commercial real property in Brickell, which is located just north of Arsht Estate.
Griffin also owns the most costly U.S. home, a $238 Million New York City penthouse.
Arsht originally purchased the estate for $16 million. She was a former lawyer and bank executive who is widely known for her $30 million contribution towards Miami’s arts center. The Adrienne Arsht Center for the Performing Arts now has four acres. It is located in the exclusive Coconut Grove enclave, just next to the Vizcaya Museum & Gardens.
There are several structures, including a pair of 2-story homes called Indian Spring and Villa Serena. These buildings also include ancillary buildings. The total living area is over 25,000 feet with 12 bedrooms, 17 baths and 400 feet of waterfront footage that offers breathtaking views of the bay, Key Biscayne, and downtown Miami.
Arsht built the Indian Spring’s primary residence on land once owned by Ziegfeld Follies star Peggy Hopkins Joyce, and her husband, James Stanley Joyce, a millionaire lumberman. Jose Gelabert Naviaon designed the five-bedroom house. It features a courtyard to welcome guests, a formal fireplace-side living room and a grand salon with French doors that open onto a terrace for al fresco dining. The family room, affectionately called the “garden space”, can seat up to 20 people.
The kitchen features a center island, two butler’s pantries and a wood-paneled office. There is also a beautiful upstairs master retreat with dual balconies, walk in closets, and baths. The lushly landscaped grounds include a full-size tennis court, a pool with two baths built into coral rock below its deck, and a guest suite with two bedrooms and a gym that sits atop the six car garage.
Villa Serena, below, is also a courthouse on the property. The structure, which is Mediterranean Revival in style was built by August Geiger and was originally designed by William Jennings Bryan, former Secretary of State of the United States. Arsht purchased the three-bedroom home in 2007. It was then meticulously restored and added to the National Register of Historic Places.
The open living areas downstairs feature Cuban tile floors. They include a marble-clad kitchen with dual islands and high quality appliances as well as an office that opens to a small courtyard. The second floor has a primary suite with a view of the water. There’s also an office and a carriage house with two bedrooms. It is located above the three-car detached garage. Another structure contains two full bathrooms.
The 80-year old Arsht is a Delaware native. She splits her time between New York, Miami, and Washington, D.C. where she paid $10M in 2020 for a home in 1893 built for Nevada Sen. Francis Newlands. Arsht intends to keep her Miami residence, and she has also stated that she will donate the proceeds of the Arsht estate to unnamed charities.
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