Steel tycoon reduces manse from $42M to $37M

Neighbor Eddy Lampert recently sold his property for $40M

TRD MIAMI /
Jul.July 11, 2013 11:00 AM

Steel tycoon Leroy Schecter reduced the listing price of his Indian Creek manse on Wednesday from an initial $45 million to $37 million, EWM broker Nelson Gonzalez told The Real Deal.

The octogenarian chairman of Marino/Ware Industries bought the seven-bedroom, 10-bathroom, 16,474-square-foot home at 12 Indian Creek Dr., an intracoastal-facing site on the island that is among Miami Beach’s priciest zip codes, for $18.65 million in April 2006, according to Miami-Dade property records.

Neighbor Eddy Lambert, the chairman of Sears, recently sold his property at 14 Indian Creek for $40 million, while a property at 3 Indian Creek sold for $47 million.

Schecter’s property, which went on the market in May 2012 for $45 million, experienced a change in valuation, Gonzalez said.

“We felt a price reduction was necessary to move the house,” he said.

Schecter expanded the square footage by fitting out the basement, adding about 5,200 square feet of living space, Gonzalez said.


Related Articles

arrow_forward_ios
Prive at Island Estates and BH3’s Charlie Phelan, Greg Freedman and Daniel Lebensohn and Gary Cohen

Privé at Island Estates developer sues Suffolk Construction over defects

Privé at Island Estates developer sues Suffolk Construction over defects
Pierre Brondeau and Palazzo Del Sol

Pesticide exec pays $14M for Palazzo Del Sol condo

Pesticide exec pays $14M for Palazzo Del Sol condo
Howard Lorber and 1525 North View Drive

Howard Lorber buys waterfront Sunset Islands home for $12M

Howard Lorber buys waterfront Sunset Islands home for $12M
2201 Sunset Drive and David Grutman (Credit: Douglas Elliman)

Hospitality mogul David Grutman lists Sunset Islands home

Hospitality mogul David Grutman lists Sunset Islands home
Jim Cohen, Fontainebleau Development’s president of Residential, and Jeffrey Soffer, with SeaGlass Jupiter

Jeffrey Soffer’s Fontainebleau Development launches sales of Jupiter Island luxury condos

Jeffrey Soffer’s Fontainebleau Development launches sales of Jupiter Island luxury condos
2138 Bay Avenue, Miami Beach (Credit: Google Maps)

Toronto financier pays $14M for Sunset Islands home

Toronto financier pays $14M for Sunset Islands home
Map of priciest condo sales and Palazzo Del Sol (Credit: Google Maps and Douglas Elliman)

$12M Fisher Island closing tops weekly condo sales in Miami-Dade

$12M Fisher Island closing tops weekly condo sales in Miami-Dade
Fisher Island (Credit: Fisher Island)

Nation’s richest ZIP code received a $2M PPP loan. Residents voted to reject it

Nation’s richest ZIP code received a $2M PPP loan. Residents voted to reject it
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...