Indian Creek Residences & Yacht Club Penthouse Achieves Record-Breaking Price in Bay Harbor IslandsJanuary 25, 2024
Penthouse 1 at Indian Creek Residences & Yacht Club, a luxurious boutique development condo in Miami’s Bay Harbor Islands, has entered into a contract for sale, setting a record-breaking price for the islands even before being publicly listed. With an asking price of $12 million, this penthouse sale establishes a new benchmark for total sale price and price per square foot. For comparison, the existing condo sale price record for the Bay Harbor Islands is $3.325 million, dating back to a condo sale 2014.
Situated within the exclusive Indian Creek Island, often called the “Billionaire’s Bunker” and home to notable figures like Jeff Bezos, Tom Brady, and Ivanka Trump, Penthouse 1 offers unparalleled views. This full-floor residence, the largest penthouse on the islands, spans 5,293 square feet, featuring 75 feet of unobstructed waterfront vistas, a private terrace, a wine wall feature, and access to the development’s amenities. These include one of the area’s exclusive private yacht clubs, a rooftop pool, spa, fitness center, outdoor screening lounge, and more.
The swift sale, occurring within three months of the launch of Indian Creek Residences & Yacht Club sales, underscores the robust demand for luxury new developments on the Bay Harbor Islands. Since 2019, there has been a remarkable 117% increase in the average closed price in Bay Harbor, coupled with an 85% increase in the average closed price per square foot. The islands are experiencing a significant transformation, establishing themselves as a premier luxury destination in a Miami neighborhood with a distinctive sense of community.
Developed by Landau Properties, led by Jonathan Landau, the boutique building comprises nine luxury condominium homes and six yacht slips, offering one of the few private yacht clubs in the region. OFFICIAL Partners exclusively manage sales and marketing.
The eight-story waterfront development, designed by renowned architect Kobi Karp with interiors by Linda Zarifi of Zarifi Design, departs from the typical glass towers of Miami’s new developments. It pays homage to Bay Harbor’s mid-century modern design with curved edges, neutral natural materials, and sculptural details. The lush landscaping by Enea Garden Design further enhances the resort-like atmosphere.
In addition to the elegant residences, Indian Creek Residences & Yacht Club boasts a comprehensive resort-style amenities package. These amenities include an owners’ yacht club and private marina, a world-class spa, a state-of-the-art fitness center, an outdoor yoga lawn, a waterfront lounge with a hot tub, a creative space called The Parlour, and a landscaped rooftop terrace featuring a pool, dining area, outdoor kitchen, and bar. The building is complemented by a full-time doorman, a resident concierge, and 18 private parking spaces.