Julio Iglesias' $15.2 Million Island Creek Mansion
by Sep Niakan | September 05, 2013
In 1981 a 2 acre Indian Creek Village home was priced at $775,000, $1.9 million today. Just last year Julio Iglesias, famous Latin singer and father of Enrique Iglesias, purchased it for $15.2 million, a $13.2 million takeaway.
Well worth it to Iglesias, who’s said “After a lifetime of traveling the world, I can say that Indian Creek is my favorite place on the planet.” Given the locale’s lush Miami Beach views, great harbor, central golf course, and relative seclusion, that’s easy to believe.
The 5,500 square ft home is spectacular, but temporary. The Iglesias family plans to reside there while developing a 20,000 square ft Spanish hacienda on a neighboring 4 acre lot, which he’s owned for over three decades. The larger property used to host his 8 bed, 7 bath, 10,000 square ft home. However lovely, the former residence wasn’t suited for his family of seven: “The house was built for a couple. Suddenly I had five kids,” he explained.
For six years Iglesias tried selling the lavish structure, but resolved to keep it after no offers and markdowns totaling $8 million, from 2002’s $32 million to 2008’s $24 million. “We went down, down, down, and then I thought, you know, this is too cheap.”
Smart move, as the prime North Miami property is only expected to gain value. Of course, Indian Creek Village residents and an army of contractors are glad the forever-young crooner is sticking around.
by Sep Niakan | November 29, 2016
This is a story of how one Miami condo dweller (that's me, Sep Niakan) gave up his car at the end of his lease and gained freedom (and $$) in its place. If you have been thinking of getting rid of your car or know someone who is, read...
by Sep Niakan | November 24, 2016
Lending, specifically FHA lending, is inching forward in favor of Miami Condos. Before President Trump pulls out any game-changers, I thought it would be the right time to reflect on a Bill passed into law by President Obama this August. The...
by Sep Niakan | November 22, 2016
It’s been almost a year since BrickellHouse’s robotic parking garage blunder, and I’ve been thinking about what this means for the automated parking business in Miami condos. In brief, Boomerang Systems (the robotic garage...
by Sep Niakan | October 31, 2016
From a humble 9-to-5 district to after-dark playground for the it-crowd, Downtown Miami has had quite a turnaround in the past decade or so. According to the latest Miami Downtown Development Authority report, there are now 88,540 residents in...