Exclusive First Look: This $59 Million Waterfront Mansion In Miami’s “Billionaire Bunker” Is America’s Most Expensive Bitcoin Real Estate Deal Ever

For roughly 1,903 Bitcoin at right now’s conversion fee, Ivanka Trump, Spanish crooner Julio Iglesias, supermodel Adriana Lima, and dozens of different A-listers and titans of business may quickly turn into your neighbors in Miami’s most coveted tackle.

Domestically often called “Billionaire Bunker”, Indian Creek Island on Biscayne Bay on the bottom of Miami Seashore is by nearly each measure probably the most unique, safe, and celebrity-saturated residential enclave in America (sorry Hamptons and Palo Alto). If it had its personal zip code, it will be the costliest as effectively, with most properties buying and selling arms nowadays for north of $40 million.

“Indian Creek is the equal of St. Jean Cap Ferrat within the south of France or Discipline Level Circle in Greenwich, Connecticut,” says Douglas Elliman’s Dina Goldentayer, who has the itemizing, of comparable micro-UHNW actual property vortices world wide. “Each property is critical and sumptuous in its personal proper. And any tackle here’s a signifier of true wealth, success, and exclusivity.”

For Indian Creek Island’s present 40 residents—a lot of whom already pay tens of millions yearly for privateness and safety all over the place else they go—that’s precisely the best way they prefer it.

The roughly 300-acre island is accessible solely by a two-lane, gated bridge stationed by armed guards. It additionally maintains its personal around the clock, 13-person police power and marine patrol to repel the vacationers and paparazzi who learn articles like this one and determine that is their greatest shot to get a glimpse of Tom Brady and Gisele Bündchen, who lately dropped $17 million on the island for a “tear down” property.

Indian Creek Nation Membership, whose William Flynn-designed golf course has fewer members than Augusta, additionally takes up the complete heart of the island which signifies that no new growth can ever happen so unique all the time will stay unique.

However Indian Creek’s already hefty price ticket for privateness, the island’s latest itemizing, 37 Indian Creek Island Highway, is about to set a good larger ceiling shattering report, hitting the market this week at $59 million. And given Miami’s at present supercharged luxurious actual property market nowadays, there’s a very good likelihood it should commerce for greater than that.

The spec mansion is being constructed by iconic Miami Seashore developer Todd Michael Glaser and three companions, who purchased the property final summer season from legendary Latin selection present host Mario Luis Kreutzberger Blumenfeld a.okay.a “Don Francisco” for $24 million in an off-market deal that additionally was represented by Elliman’s Goldentayer (it’s been a very good yr for her). After the deal closed, the partnership promptly introduced plans to demolish Blumenfeld’s current 1987 residence and substitute it with one thing extra befitting a modern-day Bitcoin billionaire searching for an announcement property.

“I’m all the time searching for alternatives and trophy estates the place I can construct,” says Glaser of the chance to design one thing on Indian Creek for the primary time. “When Dina introduced me the pocket itemizing for this property, I knew I may create one thing particular right here.”

Glaser’s spec mansion sprawls over almost 16,000 sq. toes of modernist glass, wooden, and concrete on a 1 ¼ acre lot, and options structure and interiors by legendary Miami-luxe design home, Kobi Karp.

The principle degree’s 12’ ceilings will home a membership room, chef and prep kitchens, a media room, and a full fitness center and train studio, whereas the waterfront yard contains 134’ of bay frontage, dockage for yachts as much as 110’, tropical arboretum-quality landscaping, an expansive waterfront deck, and a pool and tanning beds completely positioned to look at the solar rise and set.

On the logic behind accepting Bitcoin as a proper foreign money for the property, Glaser is the sometimes pithy self he’s turn into recognized for. “If Gucci accepts bitcoin, then Todd Michael Glaser will too.”

Elliman’s Goldentayer, nonetheless, is barely extra bullish on the longer-term potential for the house the place cryptocurrencies and luxurious actual property meet.

“37 Indian Creek would be the most high-profile crypto transaction of its sort in America if it sells in Bitcoin due to the place it’s positioned,” she tells me. “The present report is held by a decrease penthouse at Arte Surfside that accepted crypto for a $22.5 million transaction in 2021. However this property has the potential to set information not just for crypto, but additionally for Indian Creek. Which means as extra strategies of crypto conversion turn into popularized, and sellers turn into extra snug with the method, this property can change all the pieces in Miami and past.”

As for the customer, says Goldentayer, they should imagine within the pleasure delayer precept initially because the home will take between 18 months to finish. The customer additionally wants quite a lot of associates or grandchildren.

“As its huge in dimension, I may see a big household or a tech bachelor with an prolonged entourage to be drawn to this personal enclave. I’m additionally going after the customer who loves trendy structure since Kobi Karp’s design is the embodiment of Miami’s ultra-luxury modernist motion.”

On the property’s important trendy design and facilities, Glaser agrees that there was no different technique to go given the situation and potential clientele.

“I’ve been constructing luxurious properties for over 20 years right here,” says Glaser. “Trendy has all the time been my go-to in Miami Seashore. It sells. This time will likely be no totally different.”

The largest query now’s whether or not 37 Indian Creek will promote on blockchain or the old school means. And the implications for actual property are a lot larger than who Tom and Giselle have for his or her subsequent neighbors.