Introduction to the Record-Breaking Sale
The secretive investor behind a record-setting “billionaire bunker” transaction in Miami is celebrating his success. The seller of an undeveloped parcel right next door to Jeff Bezos has been revealed as a man named Mikhail Peleg, according to a release. The German developer and investor snagged $105 million for the plot on Monday, marking a record property price for the ultra-exclusive Indian Creek Island.
The Sale Details
The identity of the buyer could not be determined, but paid in cash, Forbes reported. Peleg sold his empty Indian Creek Road parcel (far left) for $105 million, saying goodbye to his neighbor of two years, Jeff Bezos. Romain Maurice/MEGA
Jeff Bezos, who owns two properties adjacent to the parcel, photographed with Lauren Sanchez. Dave Benett/amfAR/Getty Images for amfAR
Peleg is married and lives in Switzerland with two daughters, Sophia and Maria. He purchased the roughly 2-acre strip of land in 2018 for $27.5 million. Peleg’s initial plans to build were ultimately scrapped, agent Ilya Reznik previously told The Post.
The Investment and Its Potential
Peleg had high hopes for the man-made island when he snapped up his empty plot there seven years ago. “When I purchased this property in 2018, it was the highest sale price on the market,” Peleg said in a statement shared with The Post. “People told me I was overpaying, that it wasn’t a smart investment. But I saw the long-term potential in both the land and the vision we had for the property.” The property at 9 Indian Creek Island Road listed for $200 million late last year. Besides the eye-watering price tag, the property made headlines for its proximity to Jeff Bezos’s holdings there. The Amazon billionaire purchased two neighboring homes in 2023 for $68 million and $79 million, respectively.
The Property’s Features
Occupying 200 feet of west-facing waterfront along Biscayne Bay, the parcel boasts views of downtown Miami and space enough for a deep-water megayacht to dock. Indian Creek Island is home to a number of wealthy homeowners. AFP via Getty Images
The $105 million sale beats out an island record set by Bezos last year. Romain Maurice/MEGA
The Sales Process
The property underwent two price cuts during its tenure on the market, down to $150 million in March and $130 million in June, according to Zillow. Initial reports of the under-contract sale in early June quoted a $110 million sales price from a developer familiar with the deal, but the mystery buyer paid out $5 million less than expected. The deep-pocketed buyer, previously identified only as “an international finance executive,” by the Wall Street Journal, closed on Monday for $105 million.
Record-Breaking Sale and Its Implications
The final sales price for the empty parcel is just $15 million shy of Miami’s most expensive home sale, but certainly sets a new record for Indian Creek Island. The previous record was set by Bezos himself, who purchased an $87 million home on the other side of the island last year while the parcel’s neighboring two homes underwent renovations. “I believe that truly exclusive locations, even if expensive, always prove profitable,” Peleg said in his statement.
The Exclusive Island Community
Access to the island is heavily restricted. Its tony inhabitants, including Tom Brady, Carl Icahn, Jared Kushner and Ivanka Trump, are secured by their own police force and a marine patrol. Just 41 homes currently occupy the island.
Conclusion
The sale of Mikhail Peleg’s lot for $105 million marks a significant milestone in the luxury real estate market, showcasing the high demand for exclusive properties in prime locations. The record-breaking sale highlights the potential for long-term profitability in investing in unique and highly sought-after areas like Indian Creek Island.
FAQs
- Q: Who sold the lot on Indian Creek Island for $105 million?
A: Mikhail Peleg, a German developer and investor, sold the lot. - Q: How much did Mikhail Peleg initially purchase the lot for?
A: He purchased it in 2018 for $27.5 million. - Q: What is notable about the location of the sold lot?
A: It is located next to properties owned by Jeff Bezos and boasts 200 feet of west-facing waterfront along Biscayne Bay. - Q: What is the security like on Indian Creek Island?
A: Access to the island is heavily restricted, with its own police force and a marine patrol. - Q: Who are some of the notable residents of Indian Creek Island?
A: Notable residents include Tom Brady, Carl Icahn, Jared Kushner, and Ivanka Trump.
