4 Indian Creek Island Road (Google Earth)
A tight-lipped Russian lawyer who’s been making multimillion-dollar buys for clients in some of the country’s most prestigious zip codes just paid $21.6 million for a piece of dirt in the exclusive Indian Creek Island neighborhood.
Andrey M. Kaydin incorporated Alvak Holdings LLC, which purchased 1.84 acres on Biscayne Bay at 4 Indian Creek Island Road in a transaction recorded Wednesday.
The lot is one of only 32 on the affluent island off Surfside north of Miami Beach. All lots are on the water and back up to a golf course. Notable residents have included singer Julio Iglesias, retired Dolphins coach Don Shula and investor Carl Icahn.
Kaydin bought the property from 4 Indian Creek LLC, which acquired it from steel tycoon Leroy Schecter, the billionaire chairman of New Jersey-based Marino-Ware Industries and purveyor of high end real estate.
Schecter paid $11.4 million for the land in 2005 and made a nearly 32 percent profit when he traded it six years later for $15 million. He grabbed headlines in 2012 when another Indian Creek property—this time a 21,746-square-foot mansion—hit the market for $43 million.
And in November Schecter listed his plush pads at 15 Central Park West for $95 million before dropping the price to $70 million. The 85-year-old billionaire reportedly plans to leave the bulk of his fortune to charities after his death.
Schecter and Kaydin both have a connection to 15 Central Park West, where the attorney paid $22 million for a penthouse and where the famous residents include Robert DeNiro.