The Real Deal Miami

Indian Creek mansion sells for $50M, marking new Miami record

Buyer shares the name of a trust managed by Qatari businessman Abdulhadi Mana Al-Hajri
By Katherine Kallergis | February 06, 2019 09:30AM

3 Indian Creek Island Road

UPDATED, Feb. 6, 5:30 p.m.: A waterfront mansion on the exclusive Indian Creek Island sold for $49.9 million, setting a new record for single-family home sales in Miami.

Property records show AVK Land Holding LLC, managed by Russian attorney Andrey M. Kaydin, sold the 10-bedroom, 14-bathroom home at 3 Indian Creek Island Road to Angouleme Holdings II Limited Land Trust, which could be the same trust as one managed by Qatari businessman Abdulhadi Mana Al-Hajri.

3 Indian Creek Island Road

The nearly $50 million deal shatters a previous record for single-family home sales in Miami-Dade County, held by the same property when it sold in 2012 for $47 million.

The most expensive residential sale is still the $60 million sale of two units at Faena House, which billionaire hedge funder Ken Griffin purchased in 2015 and is now looking to sell.

The Indian Creek home features a 3D theater, recording studio, vertical garden and indoor reflecting pools, rooftop bar and Jacuzzi, a 100-foot pool and cabana, six wet bars and an outdoor beach area with pink sand imported from the Bahamas, according to a release from Douglas Elliman. The mansion has nearly 23,000 square feet of indoor space, and other terraces that bring the actual square footage up to 30,000 square feet. It was built on an 80,000-square-foot lot in 2011.

The private island, with about 40 properties, is home to some of the wealthiest people in the U.S., including activist investor Carl Icahn, car dealership mogul Norman Braman, and Julio Iglesias.

In 2017, Iglesias listed an 8-acre assemblage of waterfront land on Indian Creek Island for $150 million.

A vacant, 80,000-square-foot lot at 9 Indian Creek Drive sold about a year ago for $27.5 million.

Oren and Tal Alexander of Douglas Elliman represented the seller, and Ralph Arias of One Sotheby’s International Realty represented the buyer. Elliman and Arias declined to comment on the buyer.

The home was built in 2011 by Shlomy Alexander, the Alexander brothers’ father, and Felix Cohen, a spec home developer.