FAST FIVE: Citadel May Scrap Plan For New York Headquarters After Amazon Fiasco
Shortly after it was revealed that Citadel's billionaire founder, Ken Griffin, purchased a New York penthouse for the record price of $240 million in January confirming once and for all that frontrunning retail orders really does pay, speculation grew that the Chicago-based hedge fund was relocating from the Windy City to the Big Apple.
Griffin's purchase came two years after Citadel signed a lease to become the anchor tenant in a skyscraper at 425 Park Avenue (which will be completed in 2020), eight-tenths of a mile from Griffin's new apartment (vertical travel not included).
“The current climate in New York has dramatically reduced our interest in moving our headquarters here.
That creates success within those firms and then some people leave to start other businesses or drive other success stories.
Is is unclear how much of a discount Griffin would have to offer to a prospective buyer it he wishes to engage in some “high frequency” flipping of his 220 Central Park South apartment.