Hedge Fund billionaire Cliff Asness has acquired a $26 million penthouse in South Beach, Miami, in what is the most expensive condo sale of the year so far.
According to a report by the Real Deal, Skurge LLC, a Delaware company that is owned by the American billionaire, acquired the 6,807-square-foot, five-bedroom luxury apartment from Boris Jordan, a wealthy Russian venture capitalist. The apartment is located at 321 Ocean Drive.
According to Forbes Magazine, Cliff Asness has a net worth estimated at $3.8 billion. Along with David Kabiller, John Liew and Robert Krail, he is a co-founder of AQR, a hedge fund that has more than $224 billion in assets under management. Asness’ new penthouse was sold by Jordan and his wife Elizabeth. They has bought the apartment in 2015 for $20 million and had tried to flip it for $53 million the same year. Greedy bastards. When they could not find any willing idiot, they opted to relist the property for $35 million. There were still no takers, so they had to accept an offer from Cliff Asness for $26 million.
AQR co-founder John Liew and his wife recently paid $13.5 million for an apartment at the nearby Apogee in South Beach, a mile away from from Asness’ new pad.