How do you buy a $238 million pied-a-terre?

According to American Luxury Magazine hedge fund billionaire Ken Griffin has just bought a $238 million pied-a-terre.

Which has me wondering how he agreed on a price. Maybe the conversation went like this.

Agent: Oh Mr. Griffin, I’ve got this nice little pied-a-terre for you.”

Griffin: Sounds good, how much?

Agent: $250 million – it’s a steal.

Griffin: $250 million? You gotta be joking. You know I can only deduct $10,000 of the property taxes. Nope, $225 million is the most I can pay – and that assumes I can still get a 4.5% mortgage before rates go up again.

Agent: $225 million? The seller has to pay off her mortgage and she has to find another property. I may be able to talk her into splitting the difference, shall we offer $238 million?

Griffin: $238 million is a push, but try it – that’s my final offer.

You see, the super rich are just like the rest of us when negotiating the purchase of a property…….

Ken Griffin
Ken Griffin

Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
Tel: 617.834.8205

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