Billionaire Ken Griffin snapped up a property on Palm Beach’s Worth Avenue for $83 million, located next to a former Neiman Marcus store that his firm has planned to use as an office.
(Bloomberg) — Billionaire Ken Griffin snapped up a property on Palm Beach’s Worth Avenue for $83 million, located next to a former Neiman Marcus store that his firm has planned to use as an office.
With the latest purchase, Griffin now owns both properties at 125 Worth Ave. and 151 Worth Ave., according to spokesman Zia Ahmed. The seller of 125 Worth Ave. was the Frisbie Group and Dreyfuss Management, said Rob Frisbie, a principal of the Frisbie Group.
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, Griffin bought the old Neiman Marcus building on Palm Beach’s main shopping street for $78 million, intending to use it as an office. Griffin has an estimated fortune of nearly $37 billion, according to the Bloomberg Billionaires Index. The Palm Beach Daily News reported the sale of 125 Worth Ave. earlier.
Griffin’s primary residence is in Miami, where he owns properties on Star Island and in Coconut Grove. In Palm Beach, he has amassed dozens of acres of land in a residential section of town where he’s building a home for his mother and plans to construct one for himself.
–With assistance from Tom Maloney.
(Updates with details on Griffin’s ownership in second paragraph, property deals in fifth paragraph)
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