Key Takeaways
- • Citadel founder Ken Griffin paid $1.1 billion for roughly 30 acres of Wynwood land in Miami, according to developer Moishe Mana, who confirmed the sale.
- • The site is slated for a Carnegie Mellon University Miami campus, which Griffin has positioned as a way to make Miami a hub for education and innovation.
- • Mana acquired the assemblage for about $70 million, beginning in 2009, a return of roughly 15 times his cost if the reported figures hold.
- • Mana said most of the deal closed in June 2026 and that he believes the land could fetch more than the price he received.
Summary
Developer Moishe Mana has confirmed that billionaire Ken Griffin, founder and CEO of Citadel, paid $1.1 billion for Wynwood land in Miami. According to Mana, the roughly 30-acre parcel is the site of a planned Miami campus for Carnegie Mellon University (CMU). Griffin has presented the campus as a means of turning Miami into a center for education and innovation. Publisher reporting describes the transaction as the largest land assemblage deal in Florida. Most of the deal closed in June 2026, according to Mana.
Mana began acquiring Wynwood property in 2009, when the neighborhood was largely empty lots and graffiti-covered warehouse walls. He spent about $70 million assembling the site he later sold. Before the sale, he had floated large redevelopment concepts, including a 2015 proposal for as much as 10 million square feet across what is now Griffin's site. None of those plans were realized. Mana has said he believes the land could fetch more than $1.1 billion and that the sale was not primarily about money. "The whole transaction with Ken, it was not really about the money," he said. "I just passed on the torch."
Mana, who emigrated from Israel in the 1980s and built a moving company in New York before becoming a significant figure in Miami real estate, has long compared Wynwood to New York's SoHo. He saw in the neighborhood a gritty industrial district that artists had revitalized and that later attracted upscale retail and dining. Publisher coverage also reports that Mana initially turned down Griffin's team when they approached him about the property.
Beyond Wynwood, Mana has invested in Miami's Flagler District and is helping lead a beautification effort there.
Mana began acquiring Wynwood property in 2009, when the neighborhood was largely empty lots and graffiti-covered warehouse walls. He spent about $70 million assembling the site he later sold. Before the sale, he had floated large redevelopment concepts, including a 2015 proposal for as much as 10 million square feet across what is now Griffin's site. None of those plans were realized. Mana has said he believes the land could fetch more than $1.1 billion and that the sale was not primarily about money. "The whole transaction with Ken, it was not really about the money," he said. "I just passed on the torch."
Mana, who emigrated from Israel in the 1980s and built a moving company in New York before becoming a significant figure in Miami real estate, has long compared Wynwood to New York's SoHo. He saw in the neighborhood a gritty industrial district that artists had revitalized and that later attracted upscale retail and dining. Publisher coverage also reports that Mana initially turned down Griffin's team when they approached him about the property.
Beyond Wynwood, Mana has invested in Miami's Flagler District and is helping lead a beautification effort there.
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