Luxury Spec Home Breaks Miami-Dade’s Residential Record: 3 Indian Creek Island Estate Sells For $47 Million

2012 is shaping up to be a historic moment for South Florida’s residential market, 3 Indian Creek Drive closed this week for $47,000,000, trumping Miami Dade’s record sale of 14 Indian Creek Drive earlier this year. Investing 1,698 days on the market, local speculators Felix Cohen and Shlomy Alexander intended to add a product to the luxury residential landscape that had yet to be built in Miami, they purchased the vacant land located at 3 Indian Creek Drive in May 2007 for $10,306,400. Engaging local architect, Rene Gonzalez, collectively they turned out a winner. Complete with all the 21st Century bells and whistles this two acre tropical dwelling offers 200ft. of Biscayne Bay water frontage, 10 bedrooms and 14 bathrooms distributed over 30,000sf of living space and a certified green house designation.

Available Inventory: Indian Creek Island

• 12 Indian Creek Drive asking $45,000,000
• 17 Indian Creek Drive asking $38,000,000
• 38 Indian Creek Drive asking $15,900,000

Available Inventory: Trophy Condos

• The Setai Miami Beach: 101 20th Street PHV-B asking $36 Million…a FLIP from 2010
• Continuum South Tower: 100 S Pointe Drive #3603 asking $35 Million
• One Bal Harbour: 10295 Collins Avenue #2604 asking $38 MIllion

2012 Condo Record Breakers

• The Setai Miami Beach: 101 20th Street PH A sold for $21,500,000
• Continuum South Beach: 100 S Pointe Drive Triplex (floor 40-42) sold for $25,000,000
• St. Regis Bal Harbour: 9703 Collins Avenue combo unit sold for $24,600,000