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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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.
“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.
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.
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.
After my tour, I was driven back out of 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.