A triplex penthouse that was once Miami’s most expensive listing just sold at a 27% discount after 6 years on the market. Take a look inside.

miami beach penthouse
The penthouse offers stunning views of South Beach and downtown Miami.

  • Real-estate developer Ian Bruce Eichner sold his Miami Beach penthouse for $35 million after 6 years on the market, per the WSJ.
  • The 11,031-square-foot condo occupies three floors at the top of a 42-story tower.
  • I toured the penthouse in May 2019, when it was the priciest listing in Miami-Dade County.
  • See more stories on Insider’s business page.
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.

continuum miami

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.

Eichner, who founded the Continuum Company, finished the Continuum condo in the early 2000s. 

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.

penthouse miami beach

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.

miami beach penthouse

Source: Douglas Elliman

During my tour, I found that the living room, pictured below, was decorated in neutrals with black and gold accents.

miami beach penthouse

Source: Douglas Elliman

The formal dining room stuck to the white-and-marble theme.

miami beach penthouse

Source: Douglas Elliman

The eat-in kitchen has stainless-steel appliances and marble countertops to match the floors …

miami beach penthouse

Source: Douglas Elliman

… as well as three ovens and a built-in espresso machine.

miami beach penthouse

Source: Douglas Elliman

The penthouse has seven bedrooms, each of which has floor-to-ceiling windows and sweeping views.

miami beach penthouse

Source: Douglas Elliman

This bedroom opens up to a long terrace that connects to the master suite.

miami beach penthouse

Source: Douglas Elliman

In the master suite, wraparound floor-to-ceiling windows fill the room with sunlight and open up to views of the ocean.

penthouse miami beach

Source: Douglas Elliman

A private terrace off the suite overlooks South Beach and downtown Miami.

miami beach penthouse

Source: Douglas Elliman

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.

fisher island miami

Source: Insider

The master bathroom features marble floors, double vanities, and large mirrors.

penthouse miami beach

Source: Douglas Elliman

A marble soaking tub overlooks the ocean.

miami beach penthouse

Source: Douglas Elliman

The bathroom also has a walk-in double shower and its own small terrace.

miami beach penthouse

Source: Douglas Elliman

And then there’s the penthouse’s main terrace, a massive 6,091-square-foot outdoor space.

miami beach penthouse

Among the home’s other amenities is a screening room.

The penthouse also has a private pool, which sits on the level above the main terrace and overlooks the Atlantic Ocean.

miami beach penthouse

Eichner, who’s based in New York City, told the Journal that he was looking for another vacation home in the Miami area.

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I got a tour of Citi’s new wealth hub in Singapore for high-net-worth clients, a 30,000-square-foot space with ‘garden pods’ for meetings. Look inside.

singapore citi wealth hub
The space features “garden pods” for meetings.

  • I toured Citi’s new wealth hub in Singapore for its high-net-worth clients.
  • It was designed to cater to clients with assets starting at 250,000 Singapore dollars, or about $186,000.
  • It felt more like an upscale lounge than a bank. It was full of trees, a free café, and “garden pods” for meetings.
  • See more stories on Insider’s business page.
Global investment bank Citi has opened a 30,000-square-foot wealth hub on Singapore’s Orchard Road, the city-state’s glitzy luxury shopping thoroughfare.

singapore citi wealth hub

The Citi Wealth Hub on Orchard Road, Citi’s largest wealth hub globally, was created to cater to the bank’s Citigold and Citigold Private Clients, who must have at least 250,000 Singapore dollars ($186,000) and SG$1.5 million ($1.1 million) in investable assets respectively. 

The idea is to bring together Citi’s Singapore-based relationship managers and wealth specialists in a central location where they can advise these clients on building their wealth, according to a Citi spokesperson. 

While Citi doesn’t disclose its numbers of Citigold and Citigold Private Clients, there’s no shortage of wealthy potential clients in Singapore.

singapore

The city-state is home to 3,732 ultra-high-net-worth individuals, or individuals worth at least $30 million, according to Knight Frank’s 2021 Wealth Report.

In the 2021 Global Financial Centres Index that ranks global financial centers, Singapore ranked fifth overall after New York, London, Shanghai, and Hong Kong.

“Citi has an enormous opportunity to serve the growing affluent segment in Singapore,” Brendan Carney, CEO of Citibank Singapore Limited and Global Consumer Banking, said in a statement announcing the opening of the wealth hub in December. 

I recently got a tour of the Citi Wealth Hub, which spans 30,000 square feet across four floors. The seventh floor is dedicated to the Citigold Centre for Citigold clients, who must have at least SG$250,000 ($186,000) in assets.

singapore citi wealth hub

Clients are greeted by a sleek reception area with fresh flowers. Like everywhere else in Singapore right now, everyone is required to check in with contact tracing app Trace Together.

The Citigold Centre is a large glass-walled atrium with meeting pods, a cafe, and an abundance of greenery.

Singapore citi wealth hub

Ministry of Design, the interior design firm responsible for the space’s biophilic design, refers to the atrium as a “Banking Conservatory.”

It certainly didn’t feel like any bank I’d been in before.

singapore citi wealth hub

Instead of tellers or conventional meeting rooms, there are “garden pods” where clients can meet with their wealth managers.

Each pod is set up with a round table, four chairs, and a screen where a relationship manager can advise the client using a larger screen instead of a laptop or tablet.

singapore citi wealth hub

Source: Citi

A free cafe serves Lavazza coffee, TWG tea, and chocolate bon bons from local pastry chef Janice Wong.

singapore citi wealth hub

Source: Citi

And there are other nooks throughout where clients can meet with their relationship manager or just lounge with a coffee.

singapore citi wealth hub

Source: Citi

The most exclusive part of the wealth club is the Citigold Private Client Centre on the eighth floor.

singapore citi wealth hub

To become a Citigold Private Client, you must have investable assets of at least SG$1.5 million, or about $1.1 million. 

These clients gain access not only to the wealth hub in Singapore, but to a dedicated relationship manager who consults with a team of specialists, including portfolio counselors and mortgage specialists, to best advise the clients.

The Citigold Private Client Centre is a smaller, intimate space, filled with small meeting nooks – and still plenty of greenery.

singapore citi wealth hub

Source: Citi

From this area, Citigold Private Client members can order something from the cafe with one of the staff and have it delivered to them.

singapore citi wealth hub

Source: Citi

The wealth hub has 30 client advisory rooms that are named after national trees and flowers of countries where Citi has a presence.

singapore citi wealth hub

Source: Citi

The Citi employees who work at the wealth hub occupy the sixth floor.

singapore citi wealth hub

Plastic dividers separate individual workspaces in the plant-filled office.

The wealth hub can house more than 300 relationship managers and wealth specialists, but in Singapore, only 75% of a company’s employees are currently allowed to be in the office at one time.

singapore citi wealth hub

Source: The Straits Times

My tour of the Citi Wealth Hub made it clear that the luxe space was designed for a world where in-person meetings and events were the norm.

singapore citi wealth hub

During my tour, the Citi spokesperson emphasized that the wealth hub was meant to bring clients together with their relationship managers and wealth specialist for in-person rather than online meetings.

The initial plan was also to hold seminars and talks with business leaders, according to the Citi spokesperson. Right now, the only events are online.

In the pandemic, people have grown more accustomed than ever to virtual meetings, and in-person events have become much more limited.

Still, Singapore is likely closer to a return to in-person normalcy than most other countries, as the city-state has contained the virus and reported only 30 deaths throughout the pandemic.

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Inside Miami’s exclusive, high-security ‘Billionaire Bunker,’ where Tom Brady and Gisele Bündchen paid $17 million for a mansion they’re planning to demolish

indian creek island
The island’s residents are protected by a private 13-person police force that patrols the perimeter from the water and by land.

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.

indian creek village miami

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.

indian creek island

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.

indian creek island
The headquarters of the Indian Creek Village Police.

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.

indian creek island

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.

indian creek mansion miami

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.

The house sold for $17 million in April 2020.

Though it was the only one on the market when I visited, houses in the village have been known to sell without being officially listed.

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.

indian creek village mansion miami

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.

indian creek island
The island’s residents are protected by a private 13-person police force that patrols the perimeter from the water and by land.

The Indian Creek Golf Course is one of the prime golf courses in Florida, according to the website Top 100 Golf Courses.

“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.

indian creek village

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.

indian creek village

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.

indian creek village miami
An Indian Creek Village home in 2001.

Among the wealthy people who have owned homes on the island are supermodel Adriana Lima, former Sears CEO Eddie Lampert, and now, NFL star Tom Brady and supermodel Gisele Bündchen.

One of the island’s most famous residents is the singer Julio Iglesias, who owns several properties on the island, Gonzalez told me.

indian creek village miami
An Indian Creek Village home belonging to Iglesias, photographed in 2001.

It’s one of his parcels that Ivanka Trump and Jared Kushner are said to have bought for $32 million.

In 2017, Iglesias was asking for $150 million for four contiguous vacant lots he owns on the island. Together, the properties would offer 800 feet of water frontage.

The singer and actor Ricky Martin also lived on the island at one point, but it’s unclear whether he still does.

indian creek village
Martin’s house in Indian Creek, pictured in 2001.

His home is “quite small compared to the houses of the area,” according to Getty.

Billionaire investor Carl Icahn also calls the village home.

carl icahn

Icahn paid $7.5 million for his 14,000-square-foot Indian Creek vacation home in 1997, according to Forbes.

Yet another notable resident of Indian Creek was Don Shula, former head coach of the Miami Dolphins.

don shula indian creek miami
Shula at his home in Indian Creek Village.

Shula, who died in May 2020, and his wife lived in a sprawling white house on the island for more than 20 years.

The Indian Creek Country Club, a sprawling Mediterranean-style structure, sits on the island’s southwest shore.

indian creek village

“The Indian Creek Country Club is Miami-Dade County’s most exclusive, and controversial, private society,” Gus Garcia-Roberts wrote in the Miami New Times in 2011.

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.

Next to the clubhouse is a massive banyan tree.

indian creek village

Florida is one of the only places in North America where banyan trees, which are native to tropical Asia, can be found.

After my tour, I was driven back out of Indian Creek Village.

indian creek village

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.

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