Dr. Frost's Star Island Property
Jan 11, 2022 16:01:51 GMT
icemandios, investobefree22, and 1 more like this
Post by miamianne67 on Jan 11, 2022 16:01:51 GMT
Today's Miami Herald ran a story that the CEO of Citadel, Ken Griffin, had purchased a home of Star Island for $75 Million. Asking was $80 million. Seller was a female doctor. Appraised Value of our County Property Appraiser for the property is $25 million. It is believed that companies associated with Griffin purchased two vacant lots on the Island for $25 and $37 million respectively. Even so, the article states:
that the Griffin property still may not be the most valuable single property on Star Island.
"That distinction may belong to billionaire pharmaceutical entrepreneur and philanthropist Phillip Frost and his wife , Patricia, who first bought into the island in 1991 for a mere $2.1 million. Today the Frost's own the largest estate on Star Island by far- a $269,000 sq. ft. property whose value the property appraiser puts at $83,000,000. Thanks to a homestead exemption and their long tenure, they pay taxes on only $45 million of the value....." (I note that they either have a large extended family or entertain a lot of....people as they have 6 bedrooms and 8.5 bathrooms in the three story mansion.) I would add the property appraiser's value here can often be half of the market value.
Of ancillary interest, Griffin owns extravagant homes all over and donates huge amounts of money. He recently outbid a group of crypto millionaires by paying over $44 million for one of 13 remaining copies of the U.S. Constitution. He is among the top 5 money donors to the Republican Party (ie Rubio, Scott, DeSantis but NOT Trump whose economic policies he praised but called DJT called "divisive." He sometimes supports a Dem here and there.) Apparently he wants to outdo Mar-a-lago as he just purchased 20 acres just south of there from Lake Worth to the Atlantic.
Anyway, my calls to Mr. Griffin are not being returned. I'm offering my dwelling for sale as a storage unit for his old tax returns.
that the Griffin property still may not be the most valuable single property on Star Island.
"That distinction may belong to billionaire pharmaceutical entrepreneur and philanthropist Phillip Frost and his wife , Patricia, who first bought into the island in 1991 for a mere $2.1 million. Today the Frost's own the largest estate on Star Island by far- a $269,000 sq. ft. property whose value the property appraiser puts at $83,000,000. Thanks to a homestead exemption and their long tenure, they pay taxes on only $45 million of the value....." (I note that they either have a large extended family or entertain a lot of....people as they have 6 bedrooms and 8.5 bathrooms in the three story mansion.) I would add the property appraiser's value here can often be half of the market value.
Of ancillary interest, Griffin owns extravagant homes all over and donates huge amounts of money. He recently outbid a group of crypto millionaires by paying over $44 million for one of 13 remaining copies of the U.S. Constitution. He is among the top 5 money donors to the Republican Party (ie Rubio, Scott, DeSantis but NOT Trump whose economic policies he praised but called DJT called "divisive." He sometimes supports a Dem here and there.) Apparently he wants to outdo Mar-a-lago as he just purchased 20 acres just south of there from Lake Worth to the Atlantic.
Anyway, my calls to Mr. Griffin are not being returned. I'm offering my dwelling for sale as a storage unit for his old tax returns.
