Claim: Griffin Listed $60m Faena Penthouse After Hedge Fund Managers Called Hotel ‘A Piece Of Sh*t’

Some of the world’s top hedge-fund managers visited the Faena Hotel in January and didn’t like it, New York Magazine claims in a new article.

After holding a conference in the hotel’s penthouse and looking around the property, attendees decided that “the place looked like it had just been slapped together,” with doors that didn’t close or line up right, the magazine said.

Hedge fund manager Ken Griffin owns two penthouse units in the adjacent Faena condo building. He paid $60 million for the condos, the highest price ever paid for a residence in Miami.

“People were texting and emailing Ken Griffin: ‘This thing is a piece of shit,’ ” and telling friends who bought units to “sell immediately,” a source told the magazine. Griffin listed the units in late January for $73 million.

(It is worth noting that the article is littered with misinformation, and the author lost out on a job at Bloomberg after writing a story on a teenage millionaire that turned out to be a hoax.)

On Tripadvisor, the hotel is ranked #4 out of 206 hotels in Miami Beach, with 48 reviewers giving an average score of 4.5 stars.

 

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Anonymous
5 years ago

it does look like its just been slapped together

Danny
5 years ago

Looking at the completed photos and for sale photos, it does look like a pos. The amenities look cheap and the interiors of the condo’s looks like an El Dorado show room twenty plus years ago.

lola
5 years ago

I wonder if the sofas have plastic covers?

Anonymous
5 years ago

This article is misleading, Ken Griffin did not buy in Faena Hotel but in Faena House (totally different building which was delivered a while ago with much higher end finishes than any hotel would have in the first place). Faena Hotel is not a condo building so finishes are irrelevant because nobody lives there. There is a third tower called Faena Versailles under construction and which was originally planned as a condo hotel project. Having been at the Faena property numerous times since the opening, quality of the F&B recently dropped significantly due to new management. From rude bar waiters to poor table management, most people in the know no longer take their clients or their business there anymore but it is completely irrelevant to the condo tower next door. I think this hotel will soon be under management from a large flag operator, just like every hotel of this size in Miami. I think that the Versailles building missed the cycle and will likely stick to hotel only. Finally, Faena Hotel boasts probably one of the most visually striking design of all hotel in the area. If this is a piece of s@@@, so are all Miami Beach hotels.

Anonymous
5 years ago

check your facts. top 2 floor of Faena Hotel have Condos. so people do live there.

Dev1
5 years ago

The Faena hotel is cool and fun, the Faena condos are finished like crap and have horrible workmanship because Faena is another fly by night out of town developer that is used to delivering condos in South America with rough drywall and misaligned doors

Danny
5 years ago

Agreed. The renderings and what is out there is completely different. I think regular new rental apartments in Doral look better and have better craftsmanship. These condos as finished is crap.

snoɯʎuou∀
5 years ago

you would think with selling units in the millions that someone could have at least walked around to see if everything looked up to par..

Anonymous
5 years ago

Griffin is from Chicago, the dying city (population is in nosedive since 1950s), and a murder capital of America. Weather is atrocious. You have to pay huge state income tax to be able to live in that hellhole.I am not saying that Miami is perfect (far from it), but it sure beats anything located in Illinois.

MrDreTheOne
5 years ago

Seeing the pictures they have of the hotel on TripAdvisor, I can’t help but think how out of touch some people (specially….Hedge Fund Managers) can become. It might be a lot of things, but a piece of s*** it is not.

Anonymous
5 years ago

i don’t like the location – the beach is too narrow, the traffic horrendous. i prefer to be on south beach. others may prefer faena’s location. can’t speak for the finishings – but doesn’t surprise me if it was put together sloppy. same has happened at countless other buildings like icon brickell and parking garage at whatever that building is called where the electronic garage stopped working.

Anonymous
5 years ago

Bitchy. Bitchy. As if New York is not on the waters edge. Enjoy your life. We are all dead in the end anyway.

Anonymous
5 years ago

You’re always going to get someone or some people bitching about a place. They won’t be the first and they certainly won’t be the last. Yet, people are going to stay there regardless. You don’t like a place, stay somewhere else. Moving on.

Alan Matthews
5 years ago

I assume it’s an OK place. I’ve been there and it’s nice. Therefore all the comments here are warped around the position of the observer. Some want it to fail and they’ll scream (as long as it’s effortless) at the top of their digital lungs to influence just one person. Some really need it to be a success (Ken Griffin maybe?) so those forces will hyperbolically move the needle in the opposite direction. My sport is watching the vested interests spar in pseudo anonymity. Rage on opponents!