Ken Griffin Revealed As Buyer Behind The Record Breaking $106 Million Deal For Adrienne Arsht's Bayfront Estate

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.

The assemblage of properties spanning from 1221 Brickell Avenue to 1250-1260 Brickell Bay Drive is across the street from 1201 Brickell Bay Drive, which Citadel was revealed as the buyer of after Tibor Hollo’s Florida East Coast Realty sold the 2.5 acre supertall development lot in a $363 million mega-deal also in April 2022. The price equated to $145 million per acre, $3,340 PSF dirt value. Citadel is planning to develop the property with the Chicago-based developer Sterling Bay.

Ken Griffin’s net-worth is estimated to be about $31 billion and he has been one of the largest luxury property buyers in the world over the past several years. Also in Miami, Griffin has spent years and $170 million acquiring a Star Island assemblage. He made a splash when he acquired 8 Star Island Drive, a teardown built in 1993 on 1.8-acres, for $75 million. The sale set record for single-family home sales in Miami-Dade County at the time, a record Griffin is no stranger breaking. Griffin has also acquired the adjacent 10 Star Island for $25 million and 11 and 12 Star Island Drive in an off-market deal for roughly $37 million and 13 Star Island for $32.5 million. The acquisitions total $170 million.

In 2015 Griffin purchased two penthouses in Faena House on Miami Beach for a record at the time $60 million, he later sold them off for a combined $46 million. In 2019 Griffin purchased a $240 million unit at 220 Central Park South in Manhattan, NYC, in a deal that broke the record for the most expensive residential transaction ever recorded in the U.S. In Palm Beach Griffin has assembled $350 million of land at Blossom Way and South Ocean Blvd. where he began buying in 2012.

Adrienne Arsht's Bayfront Estate Sells For Record $106 Million Becoming First Residential Property To Break $100 Million Threshold

For the first time in Miami-Dade County history, a residential property sale has crossed the $100 million threshold. The Arsht Estate, a four-acre waterfront compound owned by Adrienne Arsht, one of the most revered business leaders and philanthropists in the United States, sold today for $106,875,000.

Top-producing Senior Vice President Ashley Cusack with Berkshire Hathaway HomeServices EWM Realty represented Arsht. Jill Hertzberg of The Jills Zeder Group with Coldwell Banker represented the buyer, who is undisclosed.

“As the steward of this beautiful property, I am proud to leave its legacy to the next generations of caretakers,” said Arsht. “May they also enjoy the breathtaking view!”

“It has been an honor to represent this landmark estate, which is truly one of the most magnificent in the U.S. -- fully steeped in Miami’s history,” said Cusack. “Pairing that prominence with Ms. Arsht’s commitment to community has been all the more impactful.”

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’s primary residence, known as Indian Spring, was built by Arsht in 1999 and designed by Jose A. Gelabert-Navia, the former Dean of the University of Miami School of Architecture. All living areas in the home offer views of the grounds and Biscayne Bay. Built to accommodate grand-scale entertaining, additional highlights include a Great Room, expansive courtyard entryway, formal dining room with seating for more than 20 guests, a primary bedroom suite with a full gym, and a grand foyer with a sweeping staircase. Indian Spring also has a six-car garage with an upstairs apartment and private office, bayfront swimming pool, and a lighted tennis court.

The second residence, Villa Serena, 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. Designed by architect August Geiger, the home also has unobstructed Biscayne Bay views and was carefully restored by Arsht to reflect its original glory. Its unique design includes two ornate staircases, which access private upstairs sleeping quarters, as well as a detached guest house situated above a three-car garage.

Arsht, a native Delawarean, divides her time among Washington, DC, Miami, and New York. In Miami, she was Chairman of the Board of TotalBank. Arsht’s vast philanthropy includes the Adrienne Arsht Center for the Performing Arts in Miami; The Atlantic Council's Adrienne Arsht Latin America Center and Adrienne Arsht-Rockefeller Foundation Resilience Center, each located in Washington, DC; the Adrienne Arsht Stage at Alice Tully Hall in New York's Lincoln Center; and funding for the first all-paid internships at the Metropolitan Museum of Art in New York.

“This will be a very important day for future Miami historians,” said Ron Shuffield, President & CEO of Berkshire Hathaway HomeServices EWM Realty. “The first residential property in Miami to surpass the $100 million sale mark will forever hold a prominent place in Miami’s history. Today’s record sale is a testament to the ever-increasing global interest in our hometown.”

Indian Spring

Villa Serena

Photos via 1 Oak Studio

Adrienne Arsht's Bayfront Estate Hits Market As Miami's Most Expensive Listing Ever At $150 Million

The Arsht Estate, a magnificent waterfront compound owned by business leader and philanthropist Adrienne Arsht, will be coming to the Miami market for $150 million, setting a record as the most expensive single-family listing ever for Miami-Dade County and one of the highest-priced offerings currently for sale in the country. Neighboring Vizcaya, Miami’s landmark museum, the property, encompasses two homes and is ideally situated on more than four pastoral acres and overlooks Biscayne Bay from atop one of Miami’s highest bayfront elevations. The property features more than 400’ of water frontage with panoramic views of the Bay, Key Biscayne, and Downtown Miami. Senior Vice President Ashley Cusack with Berkshire Hathaway HomeServices EWM Realty will be listing the estate which is located in the estate section of Brickell Ave.

“Being the steward of such a magnificent haven has been a true honor,” said Arsht. “This property has been the cherished site of some of our country’s most memorable gatherings. It is, without a doubt, one-of-a-kind and so quintessentially Miami. As a decades-long Miami resident, I am pleased to have been a part of preserving this treasure, and I look forward to having a continued positive impact on the community.”

The stately gates of the Arsht Estate lead to a pair of separate, two-story homes and several standalone structures, totaling more than 25,000 square feet. The primary residence, known as Indian Spring, was built by Arsht in 1999 and designed by Jose A. Gelabert-Navia, the former Dean of the University of Miami School of Architecture. The five-bedroom manse is crafted to accommodate elegant, grand-scale entertaining, with all living areas featuring sublime views of the verdant grounds and Biscayne Bay. Indian Spring has 20-foot ceilings, a formal living room and a Great Room, and an expansive, lush courtyard entryway. Adding to the inimitable elegance of the home, a formal dining room with seating for up to 20 guests is flanked by French doors on both sides. Further highlights include a primary bedroom suite with two full baths and a full gym; a grand foyer with a sweeping staircase offering direct views of the pool and Biscayne Bay; a handsome sunlit office with rich wood paneling; a sprawling family room, affectionately known as the “Garden Room;” a tranquil covered patio, which is an ideal space for entertaining guests or enjoying rest and relaxation; a Chicago brick drive; and an elevator.

Indian Spring additionally has a six-car garage with an upstairs two-bedroom, two-bath apartment, as well as a private oversized office for the owners’ use. The bayfront swimming pool includes two full baths with easy access to accommodate guests for outdoor entertaining. There is also a lighted tennis court.

The second residence, known as Villa Serena, was built in 1913 by former U.S. Secretary of State and three-time U.S. presidential candidate William Jennings Bryan. Designed by venerated architect August Geiger, the iconic manse has endless Biscayne Bay views and was meticulously and lovingly restored by Arsht to reflect its original glory. Villa Serena was furthermore designated “historic” by the National Register of Historic Places in 2012. Its unique design includes two ornate staircases accessing private upstairs sleeping quarters and, reflective of the era, a hidden doorway, allowing for seamless passage between rooms. The home also has a detached guest house, situated above a three-car garage.

“This is a compound that invites prominence – one that is not only connected to Miami’s earliest roots, but now to the world’s future of finance, technology, and global conglomerates, all operating and conducting their business just minutes away from this exceptional time-honored property,” said Cusack. “Thanks to its refinement and world-class amenities, the Arsht Estate is a residence with absolute global appeal. Its setting and size will be a draw for the most sophisticated of buyers.”

Throughout the years, the Arsht Estate, 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 sheer splendor of the Arsht Estate cannot be overstated,” added Ron Shuffield, CEO of Berkshire Hathaway HomeServices EWM Realty. “This is an extraordinary offering – a ‘unicorn’ for the market…one that simply cannot be duplicated.”

Arsht, a native Delawarean, divides her time among Washington, DC, Miami, and New York. In Miami, she was Chairman of TotalBank. Arsht’s philanthropy includes the Adrienne Arsht Center for the Performing Arts in Miami, the Arsht Centers for Latin America, and for Resilience, at the Atlantic Council in Washington, DC, and funding for the first all-paid internships at the Metropolitan Museum of Art in New York.

Indian Spring

Villa Serena

Photos via 1 Oak Studio