fbpx

Alex Rodriguez Sells Star Island Waterfront Lot to Billionaire Ken Griffin: A Power Play in Miami’s Luxury Real Estate Market

Former New York Yankees shortstop turned real estate mogul, Alex Rodriguez, has reportedly sold a prime waterfront lot on Miami Beach’s prestigious Star Island back to billionaire hedge fund titan, Ken Griffin, according to sources familiar with the matter.

Rodriguez, now serving as chairman and CEO of Miami-based A-Rod Corp, finalized the transaction for the nearly one-acre property at 14 Star Island Drive, sealing the deal with Citadel’s founder and CEO for an impressive $45.5 million. It’s worth noting that this particular lot was originally part of a larger land exchange between the two, which also included the adjacent estate at 13 Star Island Drive. This adjacent estate was acquired by Rodriguez and Jennifer Lopez for $32.5 million back in 2020. Griffin now controls both properties.

This recent exchange was facilitated by renowned real estate brokers Jill Hertzberg and Jill Eber of the Jills Zeder Group at Coldwell Banker, along with Rodriguez’s sister, Arlene Susy Dunand, and Ryan Mendell of Maxwelle Real Estate.

Ken Griffin has been strategically acquiring parcels of land on Star Island since 2020, solidifying his footprint on this man-made island situated just off the MacArthur Causeway in Miami Beach. Over the past decade, he has also amassed a collection of residential properties in Palm Beach. Notably, he is overseeing the construction of a waterfront estate for his mother on a portion of his Palm Beach holdings. Additionally, Griffin has plans for a towering commercial development along the Brickell waterfront, set to house both Citadel and Citadel Securities.

With this latest transaction, Griffin now commands nearly 6.5 acres of contiguous land on Star Island, surpassing the size of billionaire duo Phillip and Patricia Frost’s estate at 21 Star Island Drive. The only other property owner between Griffin and the Frosts is Frayda Lindemann, who resides at 15 Star Island Drive and is the widow of billionaire businessman George Lindemann.

Griffin’s extensive holdings now encompass properties at 8, 9, 10, 11, 12, 13, and 14 Star Island Drive, all located on the western side of Star Island. In addition to his Star Island acquisitions, Griffin made headlines with his approximately $107 million purchase of Adrienne Arsht’s estate in Coconut Grove last year, where he has proposed relocating a historic structure.

Recent real estate activity on Star Island includes Dentek founder John Jansheski’s notable $57 million sale of his estate at 27 Star Island Drive in September, as well as rapper Rick Ross’ acquisition of 37 Star Island Drive for $35 million in August. Notable figures like Gloria and Emilio Estefan, Sean “Diddy” Combs, Lennar Corporation Executive Chairman and co-CEO Stuart Miller, billionaire LoanDepot founder and CEO Anthony Hsieh, and renowned plastic surgeon Leonard Hochstein, known as the “Boob God,” also call the gated island home.

Outside of his real estate ventures, Rodriguez, who resides near Coral Gables, has made strategic investments in various developments across South Florida. One of his enterprises, Monument Capital Management, under the A-Rod Corp umbrella, recently raised over $75 million for their fifth multifamily fund, anticipated to acquire approximately $300 million worth of properties in the Sun Belt and Midwest regions of the United States.

LEAVE A REPLY

Please enter your name here
Please enter your comment!

Property Deals

South Beach NNN Leaseback Investment Hospital 538 Meridian Ave Miami Beach, FL 33139

Contract Details Term: 5 years remaining Annual Increase: 3.5% Extensions: Not applicable Guarantor: CVC Corp, one of Latin America's largest travel groups, operating in...

SUNNY GROVE APARTMENTS 1440 SW 42nd Ave Miami, FL 33134

Fausto Commercial Realty is proud to present the Sunny Grove Apartments, located at 1440 SW 42nd Avenue, Coral Gables, FL. This premier multifamily property...

Flagler Street Retail Center 4735 W Flagler St Coral Gables, FL 33134

Investment Highlights: Prime Redevelopment Potential: Positioned under the Live Local Act, the property at 4731-4747 W Flagler Street offers an ideal redevelopment opportunity in...

More Posts