A limited liability company with ties to Ken Griffin’s Citadel snapped up a property on Palm Beach’s Worth Avenue for $83 million, located near a former Neiman Marcus store that the billionaire’s firm has planned to use as an office.
(Bloomberg) — A limited liability company with ties to Ken Griffin’s Citadel snapped up a property on Palm Beach’s Worth Avenue for $83 million, located near a former Neiman Marcus store that the billionaire’s firm has planned to use as an office.
The buyer is identified in records filed with Palm Beach County as 125 Worth LLC. Gerald Beeson, Citadel’s chief operating officer, is listed on documents tied to the LLC, which is named for the building’s address.
Zia Ahmed, a Citadel spokesman, declined to comment. The Palm Beach Daily News reported the sale earlier.
Griffin has been boosting his Florida presence after moving headquarters for Citadel and Citadel Securities to the state. Griffin plans to build an office tower in Miami’s Brickell neighborhood, which could end up as one of the tallest skyscrapers in the city.
Read More: Griffin Brings Billions to Miami With Political Wind at His Back
Last year, Citadel took over the old Neiman Marcus building on Palm Beach’s main shopping street, intending to use it as an office. Griffin has an estimated fortune of nearly $37 billion, according to the Bloomberg Billionaires Index.
–With assistance from Tom Maloney.
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