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Ken Griffin buys Miami compound for $106.9 million, a new record

Waterfront mansions are seen in from the air.
The four-acre estate includes 400 feet of water frontage and two mansions that combine for more than 20,000 square feet.
(1 Oak Studios)
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Hedge-fund billionaire Ken Griffin has shattered the Miami price record, shelling out $106.875 million for a waterfront estate.

It’s the most ever paid for a home in Miami-Dade County, and records show Griffin stole the record from himself. Last year, he set the previous all-time high when he dropped $75 million on a home on Star Island, a man-made island in Biscayne Bay.

This one sits a few miles away in Coconut Grove, an affluent enclave where celebrities such as LeBron James and Sylvester Stallone have owned homes.

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Griffin is best known as the founder and chief executive of Citadel, a global hedge fund with more than $30 billion in assets. The move comes shortly after he announced that he was relocating the company from Chicago to Miami.

The seller is Adrienne Arsht, a businesswoman and philanthropist who listed the home for $150 million in January. Arsht made a hefty profit on the sale; records show she paid $4 million for the property in 1996.

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Spanning four acres with 400 feet of water frontage, the compound includes two homes: a Mediterranean Revival-style mansion built in 1913 known as Villa Serena, and a newer home built in 1999 known as Indian Spring. Together, they combine for more than 20,000 square feet.

Restored in recent years, Villa Serena claims a spot on the National Register of Historic Places. It features three bedrooms and grand living spaces lined with Cuban tile floors.

Indian Spring is the larger of the two; it boasts five bedrooms, five bathrooms, an office, chef’s kitchen, salon, gym and garden room overlooking a terrace. Patios extend the living space outside, leading to a swimming pool and spa.

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Both mansions open to grassy lawns that descend to a private dock on Biscayne Bay. The compound also includes a guesthouse, tennis court and two garages.

Ashley Cusack of Berkshire Hathaway HomeServices EWM Realty held the listing. Jill Hertzberg represented Griffin.

Miami isn’t the only place Griffin has set a price record. In 2019, he shelled out $238 million for a New York penthouse — the most ever paid for a home in the U.S.

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