Hedge Fund Titan Ken Griffin Buys $99 Million Palm Beach Mansion

Billionaire hedge-fund manager Ken Griffin has been splurging hundreds of millions of dollars on real estate across the country in the last several years. The latest purchase is a $99.13 million mansion at 60 Blossom Way, just footsteps from President Trump’s Mar-a-Lago Club in Palm Beach, Florida.

According to Palm Beach Daily News’ sources, a transaction with a deed for the mansion was filed Friday at the Palm Beach County Courthouse. 

Sixty Blossom Way is located on the north side of Griffin’s main estate. 

The $99.13 million transaction was the second-largest ever in Palm Beach. 

Courthouse records show financier and former Los Angeles Dodgers owner Frank H. McCourt Jr. sold Griffin the house last week. Records show McCourt paid $77.06 million in April 2017. 

The off-market deal adds nearly four acres and about 320 feet of beachfront to Griffin’s main estate, which already has 17 acres of ocean-to-lake property. Sources say that Griffin now has nearly a quarter-mile of beachfront access. 

Griffin’s primary estate is located about a quarter-mile south of President Trump’s Mar-a-Lago golf course in a region known to locals as Billionaires Row.

The sale of 60 Blossom Way trails a transaction recorded at $105 million earlier this summer for an estate just south of Griffin’s. 

Griffin has spent an estimated $350 million on the main estate, acquiring land in multiple purchases since late 2012.

“He has razed several houses there, but has kept and remodeled two homes on the property for himself and his family to use on their stays in Palm Beach. In May, he got the town’s permission to demolish a third house, the only lakefront property on his estate,” Palm Beach Daily News said. 

Court records show Griffin used a limited liability company named Providencia Partners LLC as the ownership entity for 60 Blossom Way. 

Palm Beach Daily News said 60 Blossom Way has a 27,000 square feet mansion that was built in 2000. Sources that were familiar with the transaction weren’t sure if Griffin would demolish any structures on the property. 

Griffin has long family ties in South Florida, and he’s worth about $12.7 billion. In March he was number four on Forbes’ list of the country’s highest-earning hedge-fund managers. 

Griffin’s claim to fame is that he founded the highly leveraged US global financial institution called Citadel LLC. 

Earlier this year, Griffin purchased a $238 million penthouse at 220 Central Park South. Then before that, he paid $122 million for a 200-year-old mansion a half-mile from Buckingham Palace.

Griffin already owns real estate in New York and Chicago worth more than half a billion dollars. 

When Page Six reported on Griffin’s real estate dealings in February, the online publication said that Griffin’s friends told them not to report on his future real estate portfolio. 

It’s still unclear why Griffin is quickly diversifying into real estate as the mansion bust across the US gains momentum.