Topline<\/p>\n
City commissioners in Miami will allow billionaire Citadel CEO Ken Griffin to purchase a plot of land in Miami\u2019s Brickell neighborhood for $2.98 million, across the street from the site of his planned Citadel headquarters\u2014the last plot on a block of properties he also owns.<\/p>\n
A Miami board approved the sale of a plot of land currently home to a historic cottage for $2.98 million.<\/p>\n
AFP via Getty ImagesKey Facts<\/p>\n
In a unanimous vote on Thursday, Miami\u2019s city commissioners approved the sale of the site at 190 Southeast 12th Terrace\u2014just across the street from Citadel\u2019s planned Miami headquarters<\/a>.<\/p>\n The city owns the land, but a historic 121-year-old cottage\u2014the original office of Dr. James Jackson, Miami\u2019s first physician\u2014sits on the plot, which houses the headquarters of the Dade Heritage Trust.<\/p>\n In a separate deal, Griffin also agreed to fund the preservation and relocation of the cottage, The Real Deal<\/a> first reported earlier this week, although that move still needs approval from Miami\u2019s Historic and Environmental Preservation Board.<\/p>\n Griffin has been buying up properties in the heart of Miami\u2019s Brickell neighborhood since he announced his hedge fund would relocate to the city, with the Miami Herald<\/a> estimating he has spent $700 million on properties in the area since 2022.<\/p>\n Surprising Fact<\/p>\n The Dade Heritage Trust is supporting the deal to move its headquarters off the plot of land in Brickell, the organization\u2019s executive director Christine Rupp told Forbes. \u201cWe know it\u2019s going to be a good outcome for our historic headquarters,\u201d Rupp said, calling the sale an \u201camazing opportunity to own our building and own the land,\u201d since the cottage and the land underneath are owned by the city. \u201cMr Griffin\u2019s company is funding the move of our office, they\u2019re also purchasing the lot,\u201d Rupp said, but couldn\u2019t disclose where exactly the cottage would be relocated to since the location hasn\u2019t been finalized. \u201cThe Dr. Jackson Medical Office is a tangible link to Miami\u2019s earliest days as a growing city with a frontier spirit,\u201d David Millar, a spokesperson for Citadel, told Forbes in a statement. \u201cWe are proud to help secure its future in Coconut Grove, where it can continue to connect new generations with the people, places, and stories that helped shape Miami.\u201d<\/p>\n Forbes Valuation<\/p>\n We estimate Ken Griffin\u2019s net worth<\/a> at $52.2 billion, making him the 35th-wealthiest person in the world as of Thursday. He is the founder and CEO of Citadel, the hedge fund he founded in 1990 that now manages an estimated $68 billion in assets.<\/p>\n Key Background<\/p>\n Griffin founded Citadel in Chicago, but announced the company would relocate<\/a> to Florida in 2022 after he personally moved to the state. Since the announcement, Griffin has bought up real estate near his planned Miami headquarters, including paying an estimated $125 million to purchase every condo in a nearby residential tower, Bloomberg<\/a> reported earlier this month. The billionaire also spent a reported $106.9 million for a mansion in Miami\u2019s Coconut Grove\u2014where he funded a $20 million effort<\/a> to move a historic property once owned by William Jennings Bryan. <\/p>\n Further ReadingForbesBillionaire Ken Griffin\u2019s Citadel Becomes Latest Company To Move Headquarters Out Of IllinoisBy Anna Kaplan<\/a>ForbesKen Griffin\u2019s Citadel Suggests $6 Billion NYC Project May Be At Risk Over Mamdani TaxBy Zachary Folk<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Topline City commissioners in Miami will allow billionaire Citadel CEO Ken Griffin to purchase a plot of land…\n","protected":false},"author":2,"featured_media":350487,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[16331,802,123,125,124,480],"class_list":["post-350486","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-billionaires","tag-ken-griffin","tag-miami","tag-miami-headlines","tag-miami-news","tag-real-estate"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/350486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=350486"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/350486\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/350487"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=350486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=350486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=350486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}