The Real Deal Miami

Leroy Schecter gets $28M for Miami Beach manse

Steel magnate sells Indian Creek Drive home for $17M below original list price
By Eric Kalis | July 22, 2014 09:45AM

12 Indian Creek Drive

12 Indian Creek Drive

Steel magnate Leroy Schecter got $28 million for his waterfront Miami Beach mansion, The Real Deal has learned.

The Leroy Schecter Revocable Trust sold the 12 Indian Creek Drive home on Monday, according to a written statement from Clear Title Group, which handled the closing. The transaction has not been recorded by Miami-Dade County. Schecter paid $18.7 million for the property in April 2006.

Indian Creek #1 LLC is the buyer of the seven-bedroom, 16,474-square-foot manse. The company is managed by New York attorney Lawrence Markowitz.

Nelson Gonzalez of EWM represented Schecter’s trust in the sale. Nina Rudolph of Harding Realty represented the buyer. Clear Title Group chief operating officer Eric Jacobs arranged the closing.

The trust first put the mansion on the market in May 2012 with an asking price of $45 million. That was later reduced to $37 million.

Home features include a nine-seat theater, library and billiard room, according to Gonzalez’s website. Past residents include Beyonce, Jay-Z and Julio Iglesias.