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Spotlight On: Real Estate
Originally published: Monday, August 1, 2011 (3:12:39 a.m. ET)

The home at 3 Indian Creek Drive on Indian Creek Island was completed earlier this year and carries an asking price of $60 million. (Photo courtesy of
Featured Property: 3 Indian Creek Dr., Indian Creek
Listing Broker(s): Jill Eber/Jill Hertzberg

Asking Price: $60,000,000.00

Written by: Thomas Stottlemyre

IT CARRIES THE MOST expensive asking price of any home currently on the South Florida real estate market, and most observers believe that in this economy it would require a great miracle for the developers, Shlomy Alexander and Felix Cohen, to receive an offer anywhere within remote of the gaudy $60 million for which they're hoping.

The manse sits on the quiet northwestern end of über-exclusive Indian Creek Island, which is located a few blocks from Collins Avenue on Miami Beach, and is walking distance from the tony, trendy Bal Harbour Shops.

There are but three dozen houses, give or take, on Indian Creek, which features an 18-hole, par-72, 6,662-yard golf course on its interior. Perhaps oddly, the island has its own zip code, State of Florida sworn police force, and armed boat patrol.

So much security naturally begs the question of why the need exists for it or whether the residents are overly paranoid.

The group includes a smattering of American pop culture icons from the worlds of finance (investors Carl Icahn and Norman Braman); professional and amateur sports (coaches Don Shula and Rick Pitino); fashion (Calvin Klein co-founder Barry Schwartz); entertainment (singer Enrique Iglesias); and real estate (heirs to the Turnberry fortune Jeffrey and Jackie Soffer).

In addition to the 10 bedrooms, 10 full bathrooms, four half-baths, five kitchens, panic room, wine cellar, chromotherapy spa, massive outdoor waterfall, and approximately 30,000 square feet of living space, the house is replete with a 100-foot infinity-edge pool, a 50-foot vertical garden atrium, a seven-car garage, a rooftop lawn, and a makeshift beach adjacent to the sparkling waters of Biscayne Bay.

With five distinct modules to the estate, the developers strived to give the future owners and their guests the feeling of never knowing when they are indoors or outdoors. The project was completed earlier this spring and was listed with the South Beach-based realtors Jill Eber and Jill Hertzberg, the duo that first gained national prominence when they brokered the deal that put former Miami Heat center Shaquille O'Neal and his family into 26 Star Island in 2004.

Miami-Dade County has assessed the land value at $7.2 million, which has left the investors with an annual tax bill of $183,058 since construction of the massive new project first began in the summer of 2007.

Indian Creek Island spans more than 250 acres and is ranked in the top-10 richest American cities every year.

• To inquire about a showing of this property, you can reach either Jill Eber or Jill Hertzberg at their Michigan Avenue office at: 305.341.7447.
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