Ken Griffin Acquires Wynwood Office Building in Miami for $180 Million
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Hedge fund billionaire Ken Griffin is making waves in Miami, expanding his already substantial real estate portfolio.
The Citadel founder has teamed up with Goldman Properties to acquire the 545Wyn office building for a staggering $180 million from Chicago-based developer Sterling Bay, as reported by the South Florida Business Journal.
Sources familiar with the transaction indicated that Griffin is a partner in the deal, although the official buyer is listed as Goldman Properties CEO Scott Srebnick. Neither Citadel nor Goldman Properties responded immediately to inquiries from Fox News Digital for confirmation or comment.
Two of Miami’s leading real estate agents shared with Fox News Digital that this acquisition seems to be a strategic move, likely signaling the start of a larger land grab in Wynwood.
Sources told the South Florida Business Journal that Citadel founder Ken Griffin was part of a $180 million Wynwood office purchase. (Sterling Bay/Getty Images)
“This looks more strategic than operational. Brickell is about scale and visibility – Wynwood is about flexibility and culture,” stated Mick Duchon from the Corcoran Group. “Creative office space attracts a different workforce and tenant mix. Owning both allows for a hedge across asset classes while controlling the ecosystems around where talent actually wants to work.”
Douglas Elliman’s Lourdes Alatriste added, “Given previous track records, it’s unlikely to be a one-off. It often marks the beginning of a longer-term vision rather than a single transaction. The endgame is balance. This portfolio touches luxury living, global business, and cultural innovation, reflecting a belief in Miami not just as a place to invest, but as a city with multiple centers of gravity, each serving a different purpose yet reinforcing the whole.”
Located at 545 NW 26th Street in Miami’s Wynwood neighborhood, the 10-story building spans nearly 400,000 square feet, according to the website of former leasing developer Blanca Commercial Real Estate.
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Wynwood has long been a tech and creative hub in Miami, and this deal marks Griffin’s first foray into the neighborhood after investing hundreds of millions in properties in Star Island, Coconut Grove, and Palm Beach.
“When an investor of his caliber enters a neighborhood, underwriting assumptions immediately change, cap rates compress, land pricing recalibrates, and long-term institutional capital feels safer stepping in. For Wynwood, this isn’t a short-term spike; it’s a structural re-rating of the district,” Duchon noted.
“Wynwood needed time to mature beyond its creative roots. Brickell offered certainty early on, such as financial infrastructure, zoning clarity, and scale. Wynwood today is different,” Alatriste explained. “It has stabilized, proven demand for high-quality offices, and has become a place where people want to spend time, not just work. The timing reflects confidence that Wynwood has fully arrived.”
Citadel’s Ken Griffin makes remarks during the second day of the FII PRIORITY Summit on February 20, 2025, in Miami Beach, Florida. | Getty Images
“Wynwood is Miami’s second most expensive office market behind Brickell, according to a report last year from CRE Daily. Real estate values are set by true mixed-use demand and the neighborhood’s ability to function as a real daily hub and not just a weekend destination,” stated ALP.X Group founder Sebastian Lüdke, who collaborates with Goldman Global Arts.
Citadel is also breaking ground on its new 1.2 million-square-foot global headquarters tower in Miami’s Brickell financial district, while currently holding a temporary lease at 830 Brickell Plaza, according to the company’s website.
Griffin relocated his hedge fund from Chicago to Miami in 2022 and recently shared insights about what prompted that decision during an appearance at the America Business Forum in November.
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“I’ve lived in a failed city-state. I lived in Chicago for 30-some years. I had two colleagues who had bullets fly through their cars,” Griffin recounted to Fox News’ Bret Baier.
“I had 25 bullet holes in the front of my building where I lived. You can’t live in a city awash [with] violent crime,” he added.
Dezer Developments President Gil Dezer joins ‘Varney & Co.’ to discuss pouring Florida’s largest concrete mat for new luxury condos as Miami’s real estate market surges following Zohran Mamdani’s New York City mayoral win.
Hedge fund billionaire Ken Griffin is making waves in Miami, expanding his already substantial real estate portfolio.
The Citadel founder has teamed up with Goldman Properties to acquire the 545Wyn office building for a staggering $180 million from Chicago-based developer Sterling Bay, as reported by the South Florida Business Journal.
Sources familiar with the transaction indicated that Griffin is a partner in the deal, although the official buyer is listed as Goldman Properties CEO Scott Srebnick. Neither Citadel nor Goldman Properties responded immediately to inquiries from Fox News Digital for confirmation or comment.
Two of Miami’s leading real estate agents shared with Fox News Digital that this acquisition seems to be a strategic move, likely signaling the start of a larger land grab in Wynwood.
Sources told the South Florida Business Journal that Citadel founder Ken Griffin was part of a $180 million Wynwood office purchase. (Sterling Bay/Getty Images)
“This looks more strategic than operational. Brickell is about scale and visibility – Wynwood is about flexibility and culture,” stated Mick Duchon from the Corcoran Group. “Creative office space attracts a different workforce and tenant mix. Owning both allows for a hedge across asset classes while controlling the ecosystems around where talent actually wants to work.”
Douglas Elliman’s Lourdes Alatriste added, “Given previous track records, it’s unlikely to be a one-off. It often marks the beginning of a longer-term vision rather than a single transaction. The endgame is balance. This portfolio touches luxury living, global business, and cultural innovation, reflecting a belief in Miami not just as a place to invest, but as a city with multiple centers of gravity, each serving a different purpose yet reinforcing the whole.”
Located at 545 NW 26th Street in Miami’s Wynwood neighborhood, the 10-story building spans nearly 400,000 square feet, according to the website of former leasing developer Blanca Commercial Real Estate.
Related Group CEO Jon Paul Perez and Integra Investments founder and Builders Association of South Florida President Nelson Stabile react to data showing tens of thousands of high-earners fled New York for Florida, bringing their wealth with them.
Wynwood has long been a tech and creative hub in Miami, and this deal marks Griffin’s first foray into the neighborhood after investing hundreds of millions in properties in Star Island, Coconut Grove, and Palm Beach.
“When an investor of his caliber enters a neighborhood, underwriting assumptions immediately change, cap rates compress, land pricing recalibrates, and long-term institutional capital feels safer stepping in. For Wynwood, this isn’t a short-term spike; it’s a structural re-rating of the district,” Duchon noted.
“Wynwood needed time to mature beyond its creative roots. Brickell offered certainty early on, such as financial infrastructure, zoning clarity, and scale. Wynwood today is different,” Alatriste explained. “It has stabilized, proven demand for high-quality offices, and has become a place where people want to spend time, not just work. The timing reflects confidence that Wynwood has fully arrived.”
Citadel’s Ken Griffin makes remarks during the second day of the FII PRIORITY Summit on February 20, 2025, in Miami Beach, Florida. | Getty Images
“Wynwood is Miami’s second most expensive office market behind Brickell, according to a report last year from CRE Daily. Real estate values are set by true mixed-use demand and the neighborhood’s ability to function as a real daily hub and not just a weekend destination,” stated ALP.X Group founder Sebastian Lüdke, who collaborates with Goldman Global Arts.
Citadel is also breaking ground on its new 1.2 million-square-foot global headquarters tower in Miami’s Brickell financial district, while currently holding a temporary lease at 830 Brickell Plaza, according to the company’s website.
Griffin relocated his hedge fund from Chicago to Miami in 2022 and recently shared insights about what prompted that decision during an appearance at the America Business Forum in November.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
‘Fox News @ Night’ panelists discuss calls for investigation into alleged fraud in California and the consequences of the state’s proposed billionaire tax.
“I’ve lived in a failed city-state. I lived in Chicago for 30-some years. I had two colleagues who had bullets fly through their cars,” Griffin recounted to Fox News’ Bret Baier.
“I had 25 bullet holes in the front of my building where I lived. You can’t live in a city awash [with] violent crime,” he added.
