A 10-bedroom, 14-bathroom estate in the exclusive enclave of Indian Creek Island has sold for $50 million — the most paid for a single-family house in Miami-Dade history.
The mansion, located at 3 Indian Creek Island Road, previously set the record for the highest price when it sold in 2012 for $47 million to a Russian buyer who paid cash.
The identity of the new buyer was not disclosed. The cash sale was confirmed via public records provided by the Miami-Dade Clerk of Courts. The sale closed on Feb. 1.
The home features a 3D movie theater, a 100-foot swimming pool, a rooftop sky bar and a private beach with pink sand imported from the Bahamas.
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Brothers Tal and Oren Alexander of Douglas Elliman Real Estate represented the seller in the transaction. Ralph Arias of ONE Sotheby’s International Realty represented the buyer, whose name was not disclosed.
The title of most expensive home ever sold in Miami-Dade still belongs to the eight-bedroom penthouse and adjoining unit below at the Faena House tower in Miami Beach, which were sold together for $60 million in 2015. The buyer was the hedge fund billionaire Kenneth C. Griffin, who also plunked down $238 million for a Manhattan penthouse in January.
Ron Shuffield, president and CEO of EWM Realty International, said there are existing single-family homes in Miami-Dade that would be valued in excess of $50 million.
“But none of these homes have yet sold and been recorded through our Multiple Listing Service or public record,” Shuffield said.
According to the most recent data available from the Miami Association of Realtors, sales of single-family luxury homes (priced at $1 million and above) rose 25.8 in December 2018 compared to the same period in 2017. Luxury condo sales dropped 4.8 percent over the same period year over year.
Recent high-priced real estate transactions in Miami-Dade include a five-bedroom penthouse at Fortune International Group’s Jade Signature tower in Sunny Isles Beach, which closed on Feb. 5 for $18.5 million, and a newly constructed waterfront estate at 6010 North Bay Road, which sold on Feb. 5 for $17 million.