Ken Griffin Revealed As Buyer Behind The Record Breaking $106 Million Deal For Adrienne Arsht’s Bayfront Estate — PROFILE Miami
When a residential sale crossed the $100 million threshold for the first time in Miami-Dade County history in August as The Arsht Estate sold for $106,875,000, many wondered who the mystery buyer was. It has been revealed that multi-billionaire hedge fund magnate Ken Griffin, who founded and recently moved Citadel Securities from Chicago to Miami, was the buyer in the mega-transaction for the four-acre waterfront compound which was formerly owned by Adrienne Arsht. Ashley Cusack with Berkshire Hathaway HomeServices EWM Realty represented Arsht and Jill Hertzberg of The Jills Zeder Group with Coldwell Banker represented the undisclosed buyer later revealed to be Griffin.
Neighbored by the historic Vizcaya Museum, The Arsht Estate encompasses more than 25,000 square feet of exquisitely detailed structures. Overlooking Biscayne Bay from atop one of Miami’s highest bayfront elevations, it features more than 400 feet of water frontage, as well as panoramic views of Key Biscayne and downtown Miami. Throughout the years, the property — often referred to as South Florida’s “embassy” — has been the backdrop for numerous important events and gatherings involving international luminaries, including U.S. presidents, ambassadors, and world leaders. The Arsht Estate features two connected estates, a primary residence, known as Indian Spring, which was built by Arsht in 1999 and designed by Jose A. Gelabert-Navia; as well as Villa Serena, which was built in 1913 by former U.S. Secretary of State and three-time U.S. presidential candidate William Jennings Bryan and is listed on the National Register of Historic Places.
After announcing earlier this year that both Citadel and Citadel securities will move to Miami from Chicago, Griffin has been on a buying and expansion spree. Citadel signed a lease for 95,000 SF at OKO Group’s 830 Brickell office tower. At roughly the same time, through an entity Griffin acquired the adjacent 1250 Brickell Bay Drive and 1260 Brickell Bay Drive for $20 million, the lots total roughly 6,655 SF. The lots are adjacent to 1221 Brickell Avenue, which an entity tied to Citadel reportedly acquired in June 2022 for $286.5 million.
