WISH YOU WERE HERE: 18 INDIAN CREEK DRIVE, INDIAN CREEK, FL 33154
The private island of Indian Creek, located on Biscayne Bay between Miami Beach and Bal Harbour, is a secluded community of waterfront estates comprising the most expensive real estate per square foot of any neighborhood located in Dade County. Like most residential offerings today, the prices at the top of the market are not immune to reductions. Since the start of 2009, the high end has demonstrated a trend of decreasing the ‘ask’ followed by a ‘sale.’ South Beach luxury oceanfront condos seem to be in fashion, as reflected in recent penthouse sales at Il Villaggio and Continuum I.
Will Miami’s ultra waterfront properties conform? One of the premier lots on Indian Creek Island, 18 Indian Creek Drive was originally listed for $25.M in September 2009; and subsequently reduced yesterday to $19.5M. Interesting fact, the property last traded 25 years ago, June 1, 1984 for $1.15M*. Designed by Alexander Luis, the existing structure was built in 1956.
PROPERTY HIGHLIGHTS:
- 7, 541 SF living area
- 80,000 SF lot (200×400′)
- 245″ water frontage (deep water dock under construction)
- South facing waterfront exposure
- gated entry
- 6 bed, 6 1/2 bath
- elevator
- 3-car garage
Photos of 18 Indian Creek Drive:
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2009 PRICE REDUCTIONS ON INDIAN CREEK ISLAND:
- 40 Indian Creek Drive was listed in July 2008 for $15.9M. It was reduced to $12.9M in January 2009.
- 34 Indian Creek Drive was listed for $15M in May 2008. It was reduced to $9.7M in March 2009 and further reduced to $8.9M in April 2009.
ALSO AVAILABLE FOR SALE ON INDIAN CREEK ISLAND:
- 3 Indian Creek Drive – $57M
- 12 Indian Creek Drive – $35M **
- 4 Indian Creek Drive (vacant land) – $18M **
- 38 Indian Creek Drive – $14.9M
- 22 Indian Creek Drive – $12.9M**