Home News A-Rod Buys Miami Beach Property from Ken Griffin

A-Rod Buys Miami Beach Property from Ken Griffin

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Alex Rodriguez, Ken Griffin, Star Island Property at 14 Star Island Drive (Getty, Miami Dade)

Update Oct 6 6:25 PM: Billionaire hedge fund Ken Griffin has sold one of its many lucrative Star Island properties to former baseball star turned real estate investor Alex Rodriguez. genuine article I learned.

GriffinFounder and CEO of Chicago-based Citadel wants land on 14 Star Island Drive Rodriguez, according to sources familiar with the deal. Griffin acquired the property for $24 million in August 2020, but it was recently valued at $44 million.

Deeds recorded Wednesday night show the nearly one-acre parcel sold for $18.5 million.

Rodriguezthe chairman and CEO of Miami-based A-Rod Corp. plans to hire a world-renowned architect to design a 20,000-square-foot mansion on the property. The source said it could be sold as a

A spokeswoman for Rodriguez declined to comment. A Griffin spokesperson didn’t respond to a request for comment.

griffin is Large and valuable real estate portfolio Including some properties in South Florida star islandother owners include Gloria and Emilio Estefan, Philip and Patricia Frost, Sean “Diddy” Combs, Renner Corporation executive chairman Stuart Miller, billionaire Loan Depot founder and CEO Exclusive gated community Anthony Shay And plastic surgeon Leonard Hockstein, also known as “The Boob God”.

Purchasing Griffin includes payment $75 million 8/9 Star Island Drive at the end of last year. $25 million 10 Star Island Drive almost at the same time. Last August’s 11th and 12th Star Island Drive earned him $37 million.Sources also pegged Griffin as the buyer behind $32.5 million purchase 13 Star Island Drive, which was linked to Rodriguez and his then-fiancée Jennifer Lopez, also opened last August.

Miami-Dade’s waterfront ultra-luxury homes have a new benchmark after Griffins $107 million purchase Adrienne Arscht’s Coconut Grove estate opened to the public in September, setting a record for the most expensive single-family home purchase ever in Miami-Dade County.

If Rodriguez developed the Star Island property as a spec mansion, he could list it for well over $100 million. DenTech founder John, whose father, Janshesky, at nearby 27 Star Island Drive reportedly invented the dental pick in his home, recently relisted his estate. $77 million With his ex-wife, Alyssa Morgan of Side-backed brokerage The Inside Network.

In addition to being a 14-time Major League Baseball All-Star, Rodriguez is co-owner of the NBA’s Minnesota Timberwolves and co-owned equal partner Antara Capital’s Himanshu Grati as CEO of SRAM Corporation, a special purpose acquisition company. I’m here. In late 2020, Rodriguez’s A-Rod Corp. formed a joint venture with Maverick Commercial Properties’ Adi Chough to become CGI Merchant Group’s $650M Hospitality Opportunity Fundpurchased the lease of the former Trump International Hotel in Washington, DC. $375 million.

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