Billionaire real-estate developer Jorge Perez, known as Miami’s “Condo King,” has put his sprawling waterfront mansion on the market for $33 million.Jorge Perez and wife Darlene Perez at an art event in Miami, Florida, in March 2018.
John Parra/Getty Images for Perez Art Museum Miam
Nicknamed Miami’s “Condo King” for his prolific real-estate development in the area, Perez has an estimated net worth of $1.7 billion. He would rake in a more than a $31 million profit if he sells the home at its asking price: He paid $1.45 million for the site in 1994, according to The Wall Street Journal.
Perez is the founder, chairman, and CEO of Florida’s Related Group, which has built more than 100,000 condominium and apartment residences, according to the company.
The developer did not immediately respond to Insider’s request for comment for this story.
Perez’s mansion, known as Villa Cristina, sits on a 40,000-square-foot plot of land that encompasses three lots in the upscale Coconut Grove neighborhood of Miami.
1 Oak Studios
It’s part of the exclusive Hughes Cove gated community, which only has about 10 homes.
Jill Hertzberg and Jill Eber of The Jills Zeder Group of Coldwell Banker Realty hold the listing.
The residence has 10,000 square feet of interior living space and has 482 feet of water frontage.
The rest of the grounds are occupied by manicured lawns and a sculpture garden.
1 Oak Studios
The home also includes a garage with room for four cars.
After 25 years at Villa Cristina, Perez and his wife downsized to a one-bedroom condo nearby earlier this year, a Related Group spokesperson told the Miami Herald.
Real-estate developer Ian Bruce Eichner has sold his three-level Miami Beach penthouse for $35 million, six years after he put it on the market, Candace Taylor reported for The Wall Street Journal.
Douglas Elliman Real Estate
The 11,031-square-foot condo, at the top of the 42-story Continuum tower in the South of Fifth neighborhood, was Eichner’s personal penthouse. He first put it on the market it in 2015, and it was most recently listed for $39.9 million, per the Journal.
Before selling it, Eichner had been renting out the penthouse for up to $200,000 per month, the developer told the Journal.
In May 2019, I got a tour of the Continuum penthouse, which was then the most expensive condo for sale in Miami-Dade County, listed at $48 million.
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The final sale price was a roughly 27% discount from its 2019 asking price.
When I visited, the penthouse was listed with Eloy Carmenate and Mick Duchon of Douglas Elliman. Both agents are now at Corcoran and held the listing there, according to the Journal.
During my visit, my first look at the triplex penthouse was the grand entryway.
It also offers views of Fisher Island, the richest ZIP code in the US, where the average income is $2.2 million and the beaches have sand imported from the Bahamas.
It’s been called the “Billionaire Bunker” and one of the “wealthiest, private, most secure communities in Miami Beach and the world.”
Indian Creek is a village of about 42 people on a tiny private island in Miami’s Biscayne Bay. Its “Billionaire Bunker” moniker stems from its wildly wealthy and high-profile residents, including billionaire investor Carl Icahn, supermodel Adriana Lima, and Spanish singer Julio Iglesias.
In the past couple of months, the island has gained some new high-profile residents, including Tom Brady and Gisele Bündchen. The seven-time Super Bowl winner and his supermodel wife paid $17 million for a mansion on Indian Creek that they’re planning to tear down and replace with a new, eco-friendly mansion, Page Six reported in December.
The news of Brady and Bundchen’s purchase followed reports that Ivanka Trump and Jared Kushner had dropped $32 million on a waterfront lot on the exclusive island, which Insider reported on last year when Julio Iglesias put it up for sale.
In 2019, Insider got a tour of the island from Nelson Gonzalez, a luxury realtor and the senior vice president of EWM Realty International. Here’s what it’s like on the exclusive, high-security island.
Indian Creek is a village of about 40 residents on a tiny private island in Miami’s Biscayne Bay.
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It’s been nicknamed the “Billionaire Bunker.”
The village’s 34 homes are built around the perimeter of the island, giving them all waterfront views. The center is occupied by an 18-hole golf course and a country club.
“Indian Creek is an exclusive 300-acre island located on the beautiful waters of Biscayne Bay and recognized as one of the wealthiest, private, most secure communities in Miami Beach, and the world,” Michael Light, the founder of Miami Luxury Homes and senior director of luxury sales at Douglas Elliman, wrote on his website.
In May 2019, when I got an exclusive tour of Indian Creek Village, I arrived at the island in an Uber. We were stopped at the guardhouse before even getting on the island.
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My name was on a list of expected guests, so I didn’t have a problem getting in.
Indian Creek’s police department monitors the only entrance to the island.
The headquarters of the Indian Creek Village Police.
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The island is protected by a private 13-person police force, according to my tour guide, Nelson Gonzalez, a luxury realtor and the senior vice president of EWM Realty International.
The force even patrols the perimeter of the island from the water.
Indian Creek Village is only accessible by car. A single bridge spans the waterway from Surfside.
Katie Warren/Business Insider
After we drove across the bridge, I was dropped off in the driveway of one of the island’s opulent mansions.
Homes in Indian Creek are rarely up for sale. At the time of my visit, there was only one house on the market: an eight-bedroom, Mediterranean-style mansion for $24 million.
Katie Warren/Business Insider
I was able to take a tour and photograph the home because it’s for sale, but I wasn’t allowed to take photos of any other houses on the island.
In February 2019, an Indian Creek estate that wasn’t officially on the market sold for $50 million, breaking the record for the most expensive single-family home sold in the Miami area.
The Alexander Team of Douglas Elliman Real Estate
It was the second time the home broke that record, after selling for $47 million in 2012, Insider’s Lina Batarags previously reported.
A pristine 18-hole golf course spans the center of the island.
The island’s residents are protected by a private 13-person police force that patrols the perimeter from the water and by land.
“This is not one of the most accessible venues for the visiting golfer, so you’ll need to befriend a member to tee it up on the classical William S. Flynn-designed course here at Indian Creek, which dates back to the 1930s,” the website reads.
I wasn’t allowed to get out of the car and walk around the island, so I took photos through the windows.
Katie Warren/Business Insider
Gonzalez told me that the island is high-security and that the residents are very concerned with privacy. I spotted one of the private police cars patrolling the island about two minutes into my tour.
The island has just one street, Indian Creek Island Road. It’s bordered by lavish homes on one side and the perfectly manicured golf course on the other.
Katie Warren/Business Insider
Most of the village’s homes sit behind gates, partially shrouded from view by palm trees.
High-profile investors, Russian billionaires, professional coaches, models and singers, and even US senators have called Indian Creek Village home.
The clubhouse includes a swimming pool, a fitness center, a massage and steam room, locker rooms, a bridge room, and a marina. It was built in 1929 by Maurice Fatio, the architect who designed many of the most famous estates in Palm Beach.
After my tour, I was driven back out of Indian Creek Village.
Katie Warren/Business Insider
While I’d expected a degree of security on the private island, I didn’t expect it to be quite at that level, from the 13-person private police force to the screening at the guarded gatehouse to the ban on setting foot outside the car or taking photos of the homes.
The island is really small — the driving tour took at most 20 minutes, and that was moving slowly with frequent stops.
The most telling detail of my short time on the island is that I don’t remember seeing a single civilian on the street or in the yards, but I saw at least two members of the police force.
So while the level of security is definitely, and understandably, a draw to wealthy residents, I found it to be a bit of a deserted island.
Public records show that Thiel bought the property from the former chief executive of Ford Motor Company, Jacques Nasser, through an LLC called Atlantic View Holdings.
The waterfront property comprises two homes that span a combined 10,041 square feet, as well as two outdoor swimming pools and a private boat dock, according to the Multiple Listing Service.
It sits on the manmade Venetian Islands in Biscayne Bay. The 72-year-old Nasser, who was Ford’s CEO from 1999 to 2001, bought both homes in 2005 for $5 million, per Mansion Global. Before it was acquired by Nasser, the house was the site of the 1996 season of MTV’s “The Real World: Miami.”
Thiel, who was a co-founder of PayPal and Palantir and sits on the board of Facebook, bought the property for slightly less than the original $19.9 million listing price from July.
Take a look at the sprawling waterfront compound.
The 72-year-old former chief executive for Ford Motor Company sold his Miami compound for $18 million, Mansion Global reported.Peter Thiel’s Miami property.
The Venetian Islands – which straddle the cities of Miami and Miami Beach – is made up of six exclusive manmade islands: Biscayne Island, San Marco Island, San Marino Island, Di Lido Island, Rivo Alto Island, and Belle Isle.
The Venetian Islands.
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Nasser’s former compound sits on Rivo Alto Island.
Jacques Nasser bought the home in 2005 for $5 million, four years after he retired from Ford, per Mansion Global.
Nasser in Germany in 2001.
Frederic Pitchal/Sygma/Sygma via Getty Images
He served as the CEO of Ford Motor Company from 1999 to 2001.
The Venetian Islands property has parking space for four cars.
The home’s listing agent, Dora Puig, declined to comment on the identity of the buyer who snapped up the property that Nasser owned for 15 years. Public records seen by Insider revealed Thiel as the buyer.
Keith Rabois, Thiel’s colleague at the Founders Fund venture capital firm, bought a $29 million mansion on the island in December, just a 20 minute walk from Thiel’s property.
Keith Rabois is a venture capitalist who made early investments in companies like DoorDash and Airbnb.
