Ken Griffin Buys A Castle In The Sky


The buyer who shattered local real estate records by buying a $60 million Miami Beach penthouse late last month is South Florida-born hedge fund billionaire Kenneth Griffin, according to a report in The New York Times.

The Times reported that “people familiar with the deal” said Griffin, the founder and CEO of Chicago-based hedge fund Citadel, bought the eight-bedroom penthouse at Faena Housein Mid-Beach for $4,794 per square foot.

Kenneth Griffin. Associated Press

Griffin grew up in Boca Raton and attended Boca Raton Community High School, according to a profile in Chicago Magazine.

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Congratulations!! Bristol Scores All Time West Palm Sales Record



Congratulations Chris Leavitt!!



Two condos at a yet-to-be-built tower along the Intracoastal Waterway in West Palm Beach are under contract for nearly $15 million each, which would set a price record if they close.

The penthouse units are on the 25th floor of the Bristol Palm Beach condo project, says Chris Leavitt, director of sales for the ritzy condo and an agent at Douglas Elliman. One is under contract for $14.99 million, the other for $14.7 million.

The units average $2,306 per square foot, a high-water mark for West Palm Beach condos.

The Bristol, at 1100 S. Flagler Drive, is scheduled to begin construction […] Read more

One of World’s Largest Emerging Market Funds Eyes Havanna

From  NY Times

The foreigners visiting Havana used to be Canadians and Europeans on cheap beach package tours and left-leaning Americans on dutiful rounds of organic farms and neighborhood health clinics. Ten months after the U.S. and Cuba declared the end of a half-century of official hostility, the mood in Havana has changed.

The city is filled with celebrities coming to party and hedge-fund managers sizing up their chances to make millions in one of the last bastions of communism. As an influx of American cash starts feeling imminent and inevitable, there’s […] Read more

Oil Bull Trades From Palm Beach Office

Source: Wall Street Journal


Updated Oct. 12, 2015 8:03 p.m. ET


Andrew Hall’s faith in an oil-market rebound isn’t shaken, but it isn’t paying off, either.

The main fund at Mr. Hall’s Astenbeck Capital Management LLC lost 7% in September, according to investor documents reviewed by The Wall Street Journal, leaving it down 20% for 2015 as of Oct. 1 and on track for its worst year since its inception in 2008.

The decline is noteworthy because Mr. Hall is one of the most visible traders left standing who is betting that oil prices will soar. U.S.-traded crude slumped $2.53, or 5.1%, […] Read more

Palm Beach Office Market Heats Up

From The Real Deal: Read More Here

By Dan Weil


The office real estate market continues to heat up in Palm Beach County amid buoyant fundamentals, experts say. “It’s definitely strong,” said Bill Reichel, president of Reichel Realty & Investments, a commercial real estate services firm in Palm Beach Gardens. “It’s a matter of supply-demand and the strong economy. It’s pretty simple,” he told The Real Deal. The strong economy is lifting demand, and no new Class A product has been built in the central and northern parts of the county since West Palm Beach’s CityPlace Tower opened in 2008. “Everything is […] Read more

PBHFA Season Launch Party A Roaring Success!!!

Our 2015/16 Season Launch Party proved to be a huge success with a wide cross section of Palm Beach and South Florida investors, hedge fundees, and financial professionals gathering to welcome the 2015/16  deal making, networking, friendship forging and socializing season with the Palm Beach Hedge Fund Association.

The Norton Museum of Art graciously opened their doors and the venue could not have been more ideal for our launch party.

The event would not have been the same without the support of the most extraordinary and exclusive condominium development ever launched in Palm  Beach County, The Bristol.  We would like to extend […] Read more

$200 Million Condo Sold To Palm Beach Hedge Fundee?

From The Palm Beach Post


By Darrell Hofheinz

Has Palm Beach property owner Ken Griffin inked the largest residential sale in U.S. history by paying $200 million for three floors in a New York City condominium?

It wouldn’t be out of character for the Chicago billionaire, who runs the Citadel hedge fund. Griffin did something similar in Palm Beach a few years ago, you might recall.


In late 2012 he bought four adjacent properties— three directly on the beach — on the South End’s Blossom Way. All told, he paid about $130 million for nearly 8 acres in the largest simultaneous single-buyer/multiple seller deal ever recorded […] Read more

Palm Beach Real Estate Sizzles

From The Real Deal– read more here

Inventory may stand at record low

September 18, 2015 09:45AM
By Dan Weil

Prices for homes in the town of Palm Beach, both single-family houses and condos, continue to soar, as wealthy Americans and foreigners remain enamored with the beachside paradise.


“People have no other place as attractive to put their money,” Les Evans, managing partner of Leslie Evans and Associates, a Palm Beach law firm, told The Real Deal.

His Evans Report, which details quarterly sales of Palm Beach homes, shows that the median price for a single-family home totaled $3.375 million in the second quarter, up 13.4 […] Read more

Family Offices Inside Hedge Funds

From Bloomberg

by Saijel Kishan Margaret Collins


Step inside Table Management, an obscure investment firm in New York, and something strange happens: you’re transported to the rarefied realm ofBill Ackman, the billionaire hedge fund manager.

Table, it turns out, is sort of a secret wrapped in mystery. From the same Manhattan skyscraper as Ackman’sPershing Square Capital Management, Table handles the personal finances of one client: the boss.

Ackman’s setup might seem unusual in the hedge fund business, where managers stake their fortunes on the funds they oversee for clients.


But a growing number of prominent hedge funders are also quietly cordoning off private enclaves for […] Read more