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.
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.
“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.”
Once a cold-weather destination, tourists are flocking to Miami Beach in summer, too. An off-season boom is transforming the city and its environs from a wan summer ghost town into a magnet for visitors of every stripe.
South Florida saw existing home sales hit stride in January, with more than 2,500 condos sold in the month, the largest since 2005. Buyers, many of whom are investors, are looking for the best deals and that has led sellers of both new and existing condos to cut prices.