Billionaire hedge-fund executive Ken Griffin is selling both of his Miami Beach penthouses for at least a 20% loss, Katherine Kallergis reported for the Real Deal. 

Griffin sold his larger penthouse for $35 million and is in contract to sell his second penthouse, which is on the market for $12.5 million, according to the Multiple Listing Service.

He paid $60 million for both units in 2015. At the time, it was considered a record for residential real estate in South Florida.

The two penthouses sit in the ultra-exclusive Faena House development on Miami Beach, where residents are offered lavish perks including a valet and private concierge service, an in-house spa and fitness center, a private beach club with full cabana service, and two swimming pools.

Together, the two glass-walled condos occupy multiple floors of the building, with 12,516 square feet of living space.

Accessible only by a private elevator, the larger penthouse comes with a 70-foot infinity pool out on its 9,900-square-foot, Brazilian-style terrace.

The 44-unit Faena House at 3315 Collins Avenue, was developed by Alan Faena and investor Len Blavatnik.

Griffin, the founder and CEO of Chicago-based hedge fund Citadel, has a net worth of about $21 billion, according to Bloomberg's Billionaire Index.

Source: Business Insider