A two-acre estate on Miami's Indian Creek Island has fetched top dollar.
An unidentified European buyer spent $15 million on 4 Indian Creek Drove, a waterfront property on the exclusive Indian Creek Island.
Located in the Biscayne Bay, this prime community boasts a private police unit, country club and golf course. The area is also north of Miami Beach, and a short distance from downtown Miami and South Beach.
Representing the property's seller was Pablo Alfaro of Esslinger Wooten Maxwell, one of the nation's largest real estate firms.
While information regarding the seller’s identity was not available, public records linked the land to L&L Indian Creek Properties where South Plainsfield, N.J.’s Leroy Schechter is at the helm.
In 2005, when the real estate market was booming, the property sold for $11.4 million. In 2010 and 2011, the land, which is alongside the Indian Creek golf course, was worth $7.2 million.
“This parcel represents the great attraction people across the world have for owning property in South Florida,” Alfaro told the South Florida Business Journal. “We worked tirelessly to ensure that the buyers' needs were met, and this purchase will enable them to build their dream home in one of the most sought-after communities.”
Source: South Florida Business Journal