Penthouse at INDIAN CREEK RESIDENCES & YACHT CLUB sets new price record for BAY HARBOR ISLANDS

Penthouse at INDIAN CREEK RESIDENCES & YACHT CLUB sets new price record for BAY HARBOR ISLANDS

  • Joelle Oiknine
  • 01/26/24

Penthouse 1 at Indian Creek Residences & Yacht Club, the Kobi Karp-designed ultra-luxury boutique development condo on Miami's Bay Harbor Islands, has gone into contract before even being publicly listed. Asking $12 million, the penthouse sale sets a record price for the islands, in terms of total sale price and price per square foot. For comparison, the current condo sale price record for Bay Harbor Islands is $3.325 million, for a condo that sold in 2014.

Penthouse 1 overlooks the exclusive Indian Creek Island, known as "Billionaire's Bunker" and home to the likes of Jeff Bezos, Tom Brady and Ivanka Trump. The full-floor home, the largest penthouse for sale on the islands, spans 5,293 square feet and offers 75 feet of unobstructed waterfront views, as well as a private terrace, wine wall feature and access to the development’s amenity collection, including one of the area's only private yacht clubs, a rooftop pool, spa, fitness center, outdoor screening lounge and more.

The sale comes fewer than three months after Indian Creek Residences & Yacht Club launched sales, illustrating the strong demand for luxury new development on the Bay Harbor Islands. Since 2019, the average closed price in Bay Harbor has increased 117% and the average closed price-per-square-foot has increased 85%. The islands are in the midst of a major transformation, emerging as a new luxury destination in a pocket of Miami that feels more like a neighborhood than many other areas.

Indian Creek Residences & Yacht Club is being developed by the NYC and Miami-based Landau Properties, led by Jonathan Landau. The boutique building offers nine luxury condominium homes and six yacht slips, providing one of the only private yacht clubs in the area and a sought-after opportunity for waterfront views of the coveted Indian Creek Island and exclusive Indian Creek Country Club.

The eight-story waterfront development is being designed by acclaimed Miami-based architect Kobi Karp with interiors by Linda Zarifi of Zarifi Design, representing the designer’s first ground-up condo in Miami. A counterpoint to the tall, boxy, glass towers that have become synonymous with new development in Miami, the boutique, high-design building will pay homage to Bay Harbor's large concentration of mid-century modern design. Curved edges, neutral natural materials and sculptural details define the building inside and out. Lush, tropical and mature landscaping by Enea Garden Design will envelope the building and convey a resort-like return to nature.

In addition to expansive, elegant homes, Indian Creek Residences & Yacht Club will offer a comprehensive, resort-style amenities package for residents. The owners’ yacht club and private marina is complete with one shared slip and five available for purchase, dockmaster concierge services and an outdoor lounge with bar. Additional amenities include a world-class spa with sauna and steam rooms, dedicated treatment room and red-light therapy room; state-of-the-art fitness center; outdoor yoga lawn; outdoor waterfront lounge with hot tub; The Parlour, a flexible creative space with a custom wet bar offering personal storage, coffee bar, home office space and entertainment lounge with a high-fidelity audio system; and a 2,600-square-foot landscaped rooftop terrace featuring a pool, private dining area, outdoor kitchen and bar, and outdoor screening pavilion with lounge seating. The building also offers a full-time doorman, resident concierge and 18 private parking spaces.

Renderings via Williams New York

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Joelle Oiknine has been recognized as one of the Top Ten producing agents at ONE Sotheby’s International Realty as well as being named to the Real Trends WSJ Top 100 agents in Miami on multiple occasions.

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