Indian Creek Real Estate - Rick Pitino's House Reduced To $13,900,000

UPDATE: priced at $15,900,000 USD

The Indian Creek Island home of Rick Pitino, former NBA New York Knicks coach, and coach of the University of Louisville basketball team since 2001, has been on the market for sale since mid-September 2008, with no takers at the $14,900,000 asking price. Mr. Pitino recently reduced the price by $1,000,000, hoping to bring in a buyer for his ultra-luxury mansion located on Indian Creek, one of Miami’s most exclusive communities. The island has only 38 waterfront properties, and is an incorporated city with it's own police force, private country club and golf course. A public safety department was created by the city in 1994, in order to provide security and medical services to this entirely exclusive and private community. Mr. Pitino’s home is a stunning 2 story Mediterranean waterfront mansion, situated on a 53,696 square feet lot, with 7,295 square feet of interior living area, featuring 5 fabulous bedroom suites, 6 and one half bathrooms, a state of the art kitchen, a gym, and open balconies and terraces with gorgeous panoramic views. The property next door was also recently for sale for $12,900,000. The slightly larger home, with 7,888 square feet of interior living space, is situated on a 53,736 square feet lot. At the end of March, the property was sold –- for $9,300,000.

Rick Pitino's House In Indian Creek

Indian Creek Island Home To Victoria's Secret Model Adriana Lima

Indian Creek, an exclusive island just north of Miami Beach, has recently become home to Brazilian Victoria's Secret model Adriana Lima, 28, and her husband, professional basketball player Marko Jaric, 31, who just agreed to a contract to finish the remainder of the Spanish League season for Real Madrid, a european professional basketball team. The couple, who recently had their first child, plan to remodel the 1958 house, a 7,582 square feet structure, situated on a 1.84 acre lot, with 200 linear feet of water frontage on beautiful Biscayne Bay. The home located at 22 Indian Creek Island Road, is one of only 38 waterfront properties on Indian Creek Island, sometimes referred to as America's most exclusive municipality. The island is an incorporated city with it's own police force, and a private country club and golf course. A public safety department was created by the city in 1994, in order to provide security and medical services to one of America's finest communities. The estate was listed for sale in March of this year for $12.9 million, but the price was dropped 3 months later, to a more reasonable $10.95 million, before the property was sold and closed this month for $9 million.

Adriana Lima's House In Indian Creek, FL

Indian Creek Home Sold For $7,050,000

36 Indian Creek Island Road Sold for $7,050,000
A marvelous home on Indian Creek sold and closed this week for $7,050,000. The 6 bedrooms, 6 bathrooms, 8,510 square feet home located at 36 Indian Creek Island, sits on a lot measuring 54,844 square feet, with 137 linear feet of waterfront. Described as a magnificent French Neo-classical masterpiece, the home features manicured gardens, and looking glass pool. The interior features a graceful twin staircase, 26 ft high domed ceilings, a marble fireplace, carved mahogany built-ins, and hand-painted frescoes. At first glance, the immediate question that comes to mind with a home like this, is why so cheap? The answer: this wonderful home is not quite as pricey as most of the others on Indian Creek because it is located directly adjacent to the bridge that leads on to the island, and the property is not on the wide bay, i.e., it looks across the intracoastal waterway to far less expensive homes in Surfside.

Indian Creek Luxury Real Estate At Any Price?

12 Indian Creek Drive For Sale $32,000,000
Although the real estate market has slowed dramatically throughout the nation, as well as in the Miami area, it seems that some people are unaffected, especially in the high-end market. For example, in May 2006, an ultra-luxury home on exclusive Indian Creek, namely the property located at 12 Indian Creek Drive, sold for the hefty price of $18,650,000. Today, just more than a year and a half later, the same property is on the market for sale, but this time at a whopping price of $32,000,000. In 2004 and 2005, it was very common to see homes sell at inflated asking prices, but even as prices have come down substantially in Miami Beach, the most luxurious homes seem to hold value. The property mentioned above will most likely have to come down millions of dollars in price, in order to sell in the next year or two, unless, of course, the real estate market makes a magical turn around in a very short period of time. That would be very nice, but is highly unlikely in a market place which so heavily favors buyers.

Julio Iglesias Razes Indian Creek Home

Julio Iglesias Indian Creek Estate
World famous singer Julio Iglesias recently razed his Indian Creek Island Estate. The large 10,328 square foot home no longer met his family needs, according to the 64 year old singer. The home was on the market for $25,000,000, but his agents were unable to find a buyer. Unwilling to sell the property below market value, Iglesias razed the existing home, and the news is that he plans to build a Spanish hacienda on the beautiful 4 acre lot. Indian Creek Island is an exclusive Miami Beach community with its own private golf course. The front of every home in Indian Creek faces the golf course, and the back of many of the homes feature the wide bay, with amazing vistas, making this some of the most desirable real estate in all of Florida. Indian Creek is a city, with it’s own police force; Indian Creek Village was incorporated and the police department was created in 1939.

Indian Creek Mansion Sold For $20,000,000

23 Indian Creek Drive sold for $20,000,000
A beautiful estate home just sold on Indian Creek for $20,000,000. 23 Indian Creek Drive was listed for sale at an asking price of $23,500,000 and closed 3 days ago. The 80,000 square feet property is an urban oasis bordered by 200 feet of water in the rear, and an 18 hole golf course in the front. Indian Creek is located on Miami Beach, but is actually an incorporated city with its own police force.

BACK TO TOP