A spokesperson confirmed that Griffin’s full-floor duplex penthouse at Park Tower (800 N. Michigan Ave.) is now under contract, marking his last major Chicago residential asset tied to his former home base.
What this means for Miami luxury real estate, Brickell condos, and South Florida’s 2026 housing outlook—explained by Brosda & Bentley.
Website: www.brosdaandbentley.com
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From Chicago to Miami: A Strategic (and Symbolic) Exit
Griffin’s Chicago-to-Miami shift has been unfolding since June 2022, when he began relocating the global headquarters of Citadel and Citadel Securities to Miami. In public remarks, Griffin has pointed to Florida’s business climate and quality-of-life factors as key reasons for the move—along with concerns about crime in Chicago.
On the Miami side, he’s planning a major long-term bet: a new Brickell office tower that has been estimated at around $2.5 billion.
For the real estate world, the headline is bigger than one penthouse: high-profile relocations like this continue to reinforce Miami’s reputation as a capital magnet—especially in neighborhoods like Brickell, where finance, walkability, and luxury condo inventory converge.
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Brickell Real Estate: Why Executives Keep Choosing This Neighborhood
Brickell is Miami’s financial engine—dense, walkable, and built for the “live-work-play” lifestyle that many former New Yorkers, Chicagoans, and Californians prefer.
Key Brickell drivers buyers ask us about:
• Walkability + lifestyle: restaurants, gyms, culture, nightlife
• Transit and access: close to Downtown, quick routes to the airport, and Brightline connectivity to other South Florida hubs
• Condo market depth: a wide range of luxury high-rises, amenities, and newer construction options
According to figures cited in the Realtor.com reporting, Brickell’s median home price climbed significantly from 2016 to 2025, although it also experienced a pullback from its 2023 peak—reminding buyers that even premium submarkets move in cycles.
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Florida’s 2026 Outlook: Cooling Returns, Rising Ownership Costs
South Florida has delivered strong long-term returns, but the broader Florida market has been facing affordability headwinds—especially in condo ownership.
Two costs reshaping buyer behavior:
• HOA increases
• Insurance costs
In the Realtor.com forecast referenced in the original reporting, Florida’s largest metro areas were projected to see slight price declines on average in 2026, while Miami was expected to remain modestly positive—a sign of Miami’s relative demand strength even in a cooler statewide environment.
At the same time, the same reporting notes that Chicago’s projected 2026 price growth could outpace Miami—showing that Griffin’s decision likely wasn’t purely about short-term appreciation.
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Where Ken Griffin Is Planting Roots in South Florida
While Brickell is the business hub, Griffin’s personal residential footprint has centered on ultra-prime enclaves such as:
• Palm Beach (Billionaires Row)
• Star Island
The reporting describes significant property holdings and development ambitions tied to these areas, reinforcing a familiar trend in South Florida luxury: many high-net-worth buyers choose Palm Beach / waterfront islands for privacy and legacy estates, while keeping Miami/Brickell as the business and social core.
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What Buyers and Sellers Can Learn From This Move
Even if you’re not buying a nine-figure estate, the same real estate principles apply:
1) “Lifestyle + policy” is a real market force
Relocations often follow taxes, business climate, safety perception, and schools—not just price charts.
2) Ownership costs matter more than ever
In condo-heavy markets like Brickell and coastal Florida, monthly carrying costs (HOA + insurance) can change demand quickly.
3) Neighborhood selection beats “statewide averages”
Miami—especially Brickell and prime waterfront pockets—can behave differently from broader Florida trends. Local analysis wins.
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Thinking About Buying or Selling in Miami or South Florida?
At Brosda & Bentley, we help clients make smart decisions using hyper-local pricing, building-level insight, and ownership-cost analysis—especially in luxury condos, waterfront property, and high-demand neighborhoods like Brickell.
Explore listings, market updates, and contact us: www.brosdaandbentley.com
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Source Credit
This blog post is an original rewrite and commentary based on reporting published by Realtor.com (with additional details in that report attributed to Bloomberg News, Fox News, and Forbes as cited in the original article).
