Citadel CEO Ken Griffin Completes Block Acquisition in Miami’s Brickell District with City Approval

Topline

Miami city commissioners unanimously approved the sale of a land parcel in the Brickell neighborhood to Citadel’s CEO Ken Griffin for $2.98 million, enabling him to secure the final remaining site on a block already dominated by his real estate holdings.

Key Facts

The city-owned land at 190 Southeast 12th Terrace, located adjacent to Citadel’s planned headquarters, was approved in a unanimous vote on Thursday.

The property includes a 121-year-old cottage, once the original office of Dr. James Jackson, Miami’s first physician, and is currently headquarters to the Dade Heritage Trust.

Griffin has committed to funding the preservation and relocation of the cottage, contingent on approval from Miami’s Historic and Environmental Preservation Board.

Since migrating Citadel to Florida in 2022, Griffin has invested approximately $700 million in Brickell real estate, including a $125 million purchase of an entire residential tower and a $106.9 million Coconut Grove mansion.

Historic Preservation Agreement

The Dade Heritage Trust supports the deal, with executive director Christine Rupp calling it an “amazing opportunity to own our building and the land.” Griffin’s company will fund the cottage’s relocation and purchase the lot, though the specific new location remains undisclosed pending final approvals.

Historical Significance

David Millar, Citadel’s spokesperson, emphasized the cottage’s role as a “tangible link to Miami’s earliest days as a growing city with a frontier spirit,” noting its preservation will honor the city’s heritage in Coconut Grove.

Financial Context

Forbes estimates Griffin’s net worth at $52.2 billion, ranking him 35rd globally as of Thursday. The Citadel founder, who established his hedge fund in 1990, now oversees assets valued at $68 billion.

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