Chicago hedge-fundbillionaire Ken Griffin’salready massive seaside estate under construction on the South End is getting even bigger.
TheArchitectural Commission Wednesday reviewed plans that would add a 1.6-acre property at 10 Blossom Way to the 12 acres of contiguous land Griffin already owns at 1265 S. Ocean Blvd., about a quarter-mile south ofPresident Donald Trump’sMar-a-Lago. Add in a non-contiguous house he owns on Blossom Way, and his total land holdings in the area will total 15.13 acres.
With the addition of the property at 10 Blossom Way, Griffin will own the largest contiguous estate in Palm Beach, according to property records. It will exceed hedge-fund manager Nelson Peltz’s 13-acre North End estate by nearly a half-acre.
Commissioners approved Griffin’s request to raze Roger and Susan Hertog’s five-bedroom, single-story house at No. 10. It’s unclear when the Hertogs might sell Griffin their Bermuda-style house or if it will be knocked down before the sale goes through.
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“He’s in the process of purchasing the site,” Sophia Bacon of Smith Architectural Group confirmed to theDaily News after the commission endorsed the project.
Once Griffin buys it, the property would square off his land. His estate would include all the land on Blossom Way except for the property where investor Frank McCourt’s oceanfront house stands at No. 60, immediately north of Griffin’s property.
The Hertogs were identified Wednesday as applicants for the demolition approval in conjunction with Griffin’s ownership company, Blossom Way Holdings.
This wouldn’t be the first time Griffin has expanded his estate by acquiring an adjacent property. About a year ago,he paid $85 million for 4 acresimmediately south of his estate and over the summer razed a house there. He already had revised the plans for hislong-and-lean contemporary style residence to straddle the property to the south. The estate faces 871 feet of oceanfront.
RELATED: Griffin gets OK to expand seaside house
Stretching longer than a football field at 476 feet, Griffin’s house will be just one or two rooms deep with dozens of floor-to-ceiling windows and glass doors on both sides. The house will have 63,000 square feet, including a 22,300-square-foot service basem*nt. In several rooms, the doors and windows have been designed to lower electronically into the basem*nt to create open-air spaces.
As part of their review, commissioners gave a thumbs-up to a plan to move the main residence 60 feet to the north so that it would be more centered on the expanded site. The main driveway entrance will also be relocated 124 feet to the north and a tennis court will move to the land that will be vacated once the Hertog house is razed. A security building and a structure housing mechanical equipment will also be moved to that site.
San Francisco-based architect Ugo Sap of Atelier Ugo Sap designed the house, but Smith Architectural Group is the architect of record.
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Griffin assembled the bulk of the land in late 2012in deals totaling $130 million for nearly 8 acres in the Blossom Estate subdivision. In 2015,he paid $15.25 million for a house on about 1.5 acres at 70 Blossom Way, directly across the street from the Hertogs’ home and next door to McCourt’s house. Griffin kept it intact and has used it on visits to Palm Beach, according to sources familiar with the property.
In early January 2017, Griffin bought the estate immediately to the south from Paul C. and Linda Saville at 1290 S. Ocean Blvd. Real estate broker Lawrence Moens of Lawrence A. Moens orchestrated both sides of all the sales, except for the one involving 70 Blossom Way, which was listed for sale by agent Ned Monell of Sotheby’s International Realty. Except for that house, none of the other properties was on the market when it sold.
In all, Griffin has knocked down four houses so far to make room for his residence.
The Hertogs paid $9.17 million for their 10,827-square-foot house in April 2003, property records show. The house was completed in 1994 for businessman George Straub, town records show. The house was later owned by golf legend Raymond Floyd and his late wife, Maria, who expanded it.
The Hertog property also has a tennis court facing South Ocean Boulevard.
A New York City native, Roger Hertog built a career in asset management and investment research, serving as president of Sanford C. Bernstein & Co., which merged with Alliance Capital Management in 2000 to become AllianceBernstein. He is president of the Hertog Foundation and chairman of the Tikvah Fund, a philanthropic and cultural organization serving the Jewish community.
Griffin founded Chicago-based Citadel, a hedge fund.Forbes estimates Griffin’s net worth at $8.8 billion.
Through a spokesman, Griffin declined Thursday to comment on his estate.
