Ken Griffin Of Citadel Acquires Historic Office Site In Miami For $2.98M
190 Southeast 12th Terrace
$2,980,000
$496/SF
Building Size
6,000 SF
Asset Type
Office
Closing
Jul 22, 2026
AI
The property asset is located at 190 Southeast 12th Terrace in Miami, FL, identified as an office space. The sale price recorded for this transaction is $2,980,000. The asset comprises 6,000 square feet, equating to a price per square foot of $497.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $2,980,000
- Buyer: Ken Griffin - Citadel
- Seller: Miami City Commission (City of Miami)
- Square Footage: 6,000
- Price per Square Foot: $497
- Date of Transaction: 07/22/2026
Billionaire Kenneth Griffin, through 1250 BB Asset Co. LLC, plans to relocate the historic Dr. James Jackson site under an agreement with the Dade Heritage Trust, which is part of his redevelopment plans in Brickell. His affiliated companies are proposing a 52-story, 1.71 million-square-foot office-led project on adjacent properties.
Players
Miami Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.32%
Cash-on-Cash
-1.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93