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The Citadel family of companies is now ensconced in its new, if temporary, headquarters in downtown Miami, as it waits to break ground on its permanent place along the water next year. You’d have thought Citadel founder and dear leader Ken Griffin was also suitably, if temporarily, housed in his native state, as well: After all, surely one of the many, many residences he’s spent upwards of a combined billion dollars on would do until his latest real-estate project—making Miami’s most exclusive neighborhood, the soon-to-be-former Star Island and future Citadel Island, even more so, by making it the private domain of Griffin himself—has come to fruition.

But as Ken Griffin well knows from his now 10-year-effort to cobble together a suitably large and grand piece of sandbar in Palm Beach, demolish all of the eight-figure houses sitting thereon and building something more to his taste in their place, dispossessing less but still very rich people from their place in the sun takes time. And, as far as we know, Griffin currently owns no more than seven of the 45 lots on Star Island, so he’s got a ways to go. And he’s not just going to live in one of those hovels fit for mere deci- or centi-millionaires, confronted every morning on his way out to the causeway with his inability to make all he surveys his own, his only solace being the knowledge that patience and (more) money will win out in the end. Certainly not. He’ll be content to observe the goings-on at Star from the upper floors of the Citadel tower. Until then, he’s got other accommodations to choose from.

Hedge fund billionaire Ken Griffin is the mystery buyer behind last week’s $106.9 million deal for Adrienne Arsht’s waterfront Miami estate…. The deal, which set a record for single-family home sales in Miami-Dade County, gives the Citadel founder and CEO a waterfront home about 2 miles south of his future office in Miami….

The two homes on the property, which includes 400 feet of bay frontage, combine for 12 bedrooms and 13.5 bathrooms across more than 25,000 square feet.

I mean, he guesses that’ll do for now. Plus, it’s got a fun bit of historical irony to keep Griffin and his plutocrat guests amused will he waits.

The second house, built in 1913 by William Jennings Bryan, former U.S. Secretary of State, is on the National Register of Historic Places.

Ken Griffin buyer of Adrienne Arsht’s $107M estate: sources [TheRealDeal]



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