In a significant real estate transaction, billionaire Ken Griffin has acquired a luxurious duplex in Manhattan for $45 million. This acquisition adds to Griffin's substantial portfolio of properties in New York City. The building, located at 740 Park Avenue, boasts an illustrious history, having once been home to the late first lady Jacqueline Kennedy Onassis during her childhood. The seller, Julia Koch, widow of billionaire David Koch, had been attempting to sell the property for three years. This purchase reflects Griffin's ongoing interest in high-end real estate, both in New York and beyond.
A Closer Look at Griffin's New Acquisition
In the heart of Manhattan, on a prestigious stretch of Park Avenue, lies a magnificent five-bedroom duplex that has recently changed hands. On a crisp autumn day in February 2025, hedge fund titan Ken Griffin finalized his purchase of this 8,500-square-foot residence for $45 million. Built in 1930, this historic building has seen many notable residents over the decades, including John D. Rockefeller Jr. and former Treasury Secretary Steven Mnuchin. Most famously, it was the childhood home of Jacqueline Kennedy Onassis, adding a layer of historical significance to the property.
The sale comes after a prolonged listing period. Julia Koch, who inherited the property from her late husband David Koch, initially listed it for $60 million in 2022. By 2023, the asking price had dropped to $48 million, and finally, it sold for $15 million below its original price. Griffin, CEO of Citadel and one of the world's wealthiest individuals, now owns multiple properties in New York City, including a record-breaking penthouse purchased in 2019 for $238 million.
Beyond Manhattan, Griffin has expanded his real estate footprint southward, investing nearly $169 million in Miami's Star Island between 2020 and 2023. In 2022, he acquired two bayfront houses in Coconut Grove for over $100 million, and over the past decade, he has amassed 27 acres in Palm Beach for approximately $450 million. Despite these acquisitions, Griffin has also offloaded some properties, such as selling the top two floors of a Chicago condo for $19 million in late 2024, marking a 44% loss from his initial investment.
Meanwhile, Julia Koch, worth $74.2 billion according to Forbes, continues her own real estate ventures. In 2022, she purchased two Manhattan co-ops for $101 million and sold a townhouse in Manhattan for $41 million in an off-market deal the following year.
This transaction underscores the enduring allure of prime Manhattan real estate, even as market conditions fluctuate. It highlights the strategic investments made by ultra-high-net-worth individuals like Griffin and Koch, who continue to shape the city's skyline and legacy through their acquisitions.
From a reader's perspective, this news offers a fascinating glimpse into the world of luxury real estate and the lives of billionaires. It raises questions about the value of historical significance in property transactions and the broader implications of such purchases on urban landscapes. As these elite buyers continue to invest in iconic buildings, they not only preserve pieces of history but also influence the future development of cities like New York.