Millionaire Mansion: New Resident Moves In Next to Jeff Bezos at Miami's Exclusive Fortress for the Wealthy
"Dang, pour some sugar on that! An empty lot on Indian Creek Island just fetched a mind-boggling $105 million!"
Mikhail Peleg, a German developer, just sold an empty lot on Miami-Dade County's "rich people retreat," Indian Creek Island, for a whopping $105 million. This price tag easily outshines the previous island record of $87 million, set by none other than Jeff Bezos. The deal provides Peleg with an impressive return on his investment, having originally paid only $27.5 million for the property back in 2018.
Peleg, a real estate magnate known for snapping up top-tier properties at sky-high prices, struck the deal through broker Ilya Reznik. The buyer's identity remains under wraps due to a non-disclosure agreement. Reznik, though, reveals that the lot's prime location, with views of Biscayne Bay to the west, makes it a promising spot for a high-end mansion.
Why the hefty price tag? Indian Creek Island is home to a cluster of high-profile residents, including Amazon's founder, Jeff Bezos, Donald Trump's daughter Ivanka, and her husband Jared Kushner, as well as retired NFL star Tom Brady. Peleg's lot even borders two of Bezos' neighboring properties, which he snapped up for $68 million and $79 million in 2023.
Initially, Peleg had plans to build a house on the land. However, with the dramatic surge in property prices on Indian Creek, he decided to sell, a choice that his lawyer, Daniel Rudoy, described in January as that of a "savvy investor." Offers for the property started pouring in on the first day it was listed, with potential buyers offering around $100 million. Despite the hope for a $200 million deal, the property finally sold for $105 million, paid in cold, hard cash.
The sale of this 1.8-acre lot is yet another testament to Indian Creek Island's allure. Despite an average increase in luxury real estate prices by nearly 50% over the past four years, Indian Creek homes have climbed from single-digit million prices in the early 2000s to an average of $30 million in the 2010s, and more recently, the $87 million Bezos paid in 2024 for one of his island properties. With this latest sale, the new floor for what land on Indian Creek Island can command is likely to rise even further.
In an interview with Forbes in January, real estate agent Dina Goldentayer, who specializes in the Indian Creek area, revealed the constant demand for properties on the island. Potential buyers, she shares, are willing to pay hefty sums just for a chance to join the island's exclusive community. With its waterfront access, privacy, and unmatched security, Indian Creek Island remains an irresistible draw for the ultra-wealthy, even post-pandemic.
Sources:
- Indian Creek Island - Wikipedia
- Billionaire Bunker: Inside Miami's Indian Creek Island - Forbes
- Jeff Bezos Buys More Indian Creek Island Property - Forbes
Mikhail Peleg's decision to sell his real estate investment on Indian Creek Island for $105 million demonstrates a significant return on his initial investment of $27.5 million in 2018, showcasing his expertise in investing in high-end real estate markets. With the prime location and exclusive community of Indian Creek Island, the sale sets a new floor for the value of land on the island, making it an attractive proposition for future investors in the field of real estate.
