The Real Deal Miami

Indian Creek lot sells for record $27.5M

Vladimir Krasavtsev sold the property to a Delaware LLC
By Katherine Kallergis | January 31, 2018 12:30PM

9 Indian Creek Drive (Credit: Realtor.com)

Miami Beach resident Vladimir Krasavtsev just sold a vacant lot on Indian Creek Island for $27.5 million, marking a new record for waterfront land in the pricey enclave.

Property records show SMM Sunny Holding LLC, a Delaware company, paid about $345 per square foot for the site at 9 Indian Creek Drive. Mirce Curkoski and Albert Justo of One Sotheby’s International Realty represented Krasavtsev, and Irina Artemova of Luxe Living Realty represented the buyer.

The $27.5 million price tag beats a previous land record for Indian Creek when Krasavtsev paid $25.69 million for the 1.8-acre site in 2015. “Originally they were going to build a dream home and things changed and they decided to sell it,” Curkoski said.

An attorney represented the buyer, he said. Artemova could not immediately be reached for comment on the buyer’s identity.

The 80,000-square-foot lot was briefly listed for sale at $31.5 million, but Curkoski said the sale was an off-market deal. “We listed it as we were getting close to [closing] to open it up to potential buyers,” he said.

It has about 200 feet of water frontage.

The exclusive island, with about 40 properties, is home to some of the 500 wealthiest people in the U.S., including activist investor Carl Icahn, car dealership mogul Norman Braman, and developers Jackie Soffer and Jeffrey Soffer.

In July, Julio Iglesias listed an 8-acre assemblage of waterfront land on Indian Creek Island for $150 million. The singer-songwriter is looking to sell lots 4, 5, 6 and 7 in Indian Creek for $18.75 million per acre or $470 per square foot. Each property has 80,000 square feet.

Jackie Soffer listed a waterfront teardown at 26 Indian Creek Island Road for $29.5 million last year as well. Curkoski said it’s the only other similarly sized waterfront lot available for sale on Indian Creek.