Miami Beach Estate Home Sells for Record Breaking $47 Million

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In yet another sign the upper-end real estate property market is surging, ONE Sotheby's International Realty announced this week the closing on 3 Indian Creek in Miami Beach.

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Representing the buyer in the transaction is luxury property specialist, Inga Boutboul, who co-brokered this deal. The estate closed August 7th for $47 Million, making it the highest residential sale to date in Miami Dade County.

The exclusive Indian Creek residence is 30,000-square-feet featuring 10 bedrooms, 10 bathrooms and 4 half baths. Sitting on an 80,000-square-foot lot, the home includes an outdoor cascade, a rooftop lawn and Jacuzzi, a resort-style pool, and a garage large enough for seven vehicles.

Additionally, the astounding single-family home, which was built in 2010, has a wine cellar, a panic room, a chromo therapy spa and a massage room. The exquisite residence also boasts an elevator. The spectacular home has a full catering kitchen perfect for entertaining. With its light filtering louvered walls, this certified "green" house is one of a kind in South Florida.

The Island of Indian Creek is one of Miami Beach's most exclusive and well-guarded neighborhoods in Miami Beach. With about 40 high-end residences, a premier golf course and the exclusive Indian Creek Country Club, the island is often called "Billionaire Row" by Miami locals.

The home was built on-spec and originally listed for $60 million since early 2011 as construction of the home was nearing completion. The developers of the 10-bedroom estate home were Shlomi Alexander and Felix Cohen.

The buyer is Russian, whose identity has not been revealed.