Singer Julio Iglesias buys Indian Creek home for $15.2 million

Singer Julio Iglesias has paid $15.2 million for a home adjacent to the empty tract he owns on Indian Creek Island in an off-market transaction, The Real Deal has learned.

Sources say Iglesias intends to demolish the property, which is located at 7 Indian Creek Drive, to build a new home. 

It had been owned by Baltimore developer Paul Frederick Obrecht, who died in November.

Obrecht paid just $775,000 for the property in 1981, according to the Miami Dade County Property Appraiser’s office.

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The Obrecht family could not be reached for comment at its office in Timonium, Md., and nor could Iglesias through a spokesperson.

The six-bedroom, five-bathroom, 5,504-square-foot home had an assessed value of $7.73 million last year, according to the Miami-Dade County Property Appraiser’s office.

Iglesias’ manse at 5 Indian Creek Drive was listed for $28 million in 2006, among the most expensive homes in the United States at the time.

After failing to sell it, the singer demolished the property in 2008. It remains a vacant lot.