The Real Deal Miami

Jackie Soffer lists Indian Creek Island teardown for $30M

Soffer, who planned to develop property, wants nearly $370 psf for the waterfront land
April 10, 2017 03:55PM

Aerial view of 26 Indian Creek Island Road (Credit: Felipe Ariano). Inset: Jackie Soffer

Developer Jackie Soffer wants to flip a waterfront teardown on Indian Creek Island for $29.5 million.

Soffer bought the nearly 2-acre property at 26 Indian Creek Island Road in 2007 for $11.5 million, which means she’s looking to flip it for more than double its last sale.

The 6,400-square-foot home was built in 1948 and will likely be torn down, listing agent Mirce Curkoski told the Wall Street Journal. Curkoski is co-listing the property with Alexa Eve Iacovelli and Albert Justo of One Sotheby’s International Realty.

At $29.5 million, the price breaks down to nearly $370 per square foot for the land.

The exclusive island, with about three dozen homes, is west of Surfside. Some of America’s 500 wealthiest people own properties on the island, including activist investor Carl Icahn, car dealership mogul Norman Braman and hedge fund manager Eddie Lampert.

In 2015, Indian Creek saw three big ticket sales: the $30 million sale of financier Charles Johnson’s former home; the $23 million/$288-per-square-foot sale of the 80,000-square-foot lot at 2 Indian Creek Island Road; and the nearly $26 million sale of 9 Indian Creek Drive for a similarly sized lot, the latter of which broke down to about $321 per square foot.

Property records show Soffer’s brother Jeff Soffer, co-CEO of Turnberry and husband to supermodel Elle Macpherson, owns a nearby estate at 27 Indian Creek Island Road.

Jackie Soffer, co-chair and CEO of Aventura-based Turnberry Associates, originally planned to develop the property, which she does not live in. She lives with her real estate developer husband Craig Robins in Miami Beach. Soffer is currently overseeing the roughly $200 million expansion of Aventura Mall, and the firm has Turnberry Ocean Club under construction in Sunny Isles Beach. [WSJ] – Katherine Kallergis