Want Bezos as Your Neighbor? Here’s the Cost To Live Alongside the Super Wealthy
Do you have tens of millions of dollars currently burning a hole in your pocket? If so, you may be able to live with celebrities and the ultra-wealthy in Florida’s most exclusive neighborhood.
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Indian Creek Village is an island community off the coast of Miami. Nestled among the other barrier islands of Miami-Dade County, this ultra-private island is one of the wealthiest and most secure neighborhoods in the United States. Residents include celebrities and billionaires like Jeff Bezos, Tom Brady and Julio Iglesias.
So how much money would you need to live in Indian Creek Village? Read on for a full breakdown.
What Is Indian Creek Village Like?
Indian Creek Village is a man-made barrier island in Biscayne Bay, Florida, spanning 294 acres, often called the “Billionaire Bunker.” According to the local government website, the island has only 41 lots, all on the waterfront. In the island’s center lies Indian Creek Country Club, whose golf course was designed by prominent course architect William S. Flynn.
The only access to the island is through the Indian Creek Bridge, which connects it to the other Miami barrier islands. The bridge is guarded by the Indian Creek Village police force, and anyone not on the resident or guest list is turned away. In fact, the island is so exclusive that even the Indian Creek police station and village hall aren’t located on the island. Instead, they are relegated to a building on the other side of the bridge.
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In June 2021, Indian Creek Village installed a new security system composed of perimeter security poles equipped with radar and camera technology. This system monitors the island’s perimeter, focusing on anyone in the water around the island, and sends real-time thermal video coverage to the local police. Other security systems include CCTV and a Solarbeam wireless setup that uses infrared barriers to detect motion. When these barriers are breached, an alarm is triggered.
There are no buildings or amenities on the island aside from the houses and the country club, so residents must venture outside for anything beyond those. However, that might not be an issue for people with enough wealth to own yachts and private jets.
Who Lives in Indian Creek?
Indian Creek Village is known for its high-profile list of residents. This includes individuals from various sectors such as business, entertainment and sports, who choose Indian Creek for its privacy and lifestyle.
Here are a few notable residents:
Jeff Bezos: The founder of Amazon and one of the world’s wealthiest individuals, Bezos owns multiple properties on the island, totaling over $230 million in value.
Tom Brady: The footballer and his then-wife, fashion model Gisele Bündchen, bought a lot in Indian Creek Village together. After their divorce, Brady retained the lot and the house he built on it, while Bündchen bought another property on the other side of the water.
Julio Iglesias: The renowned Spanish singer has long enjoyed the tranquility and security of Indian Creek, making it one of his homes since 1978. He bought a total of five parcels of land on the island, where he hoped to create a family compound. However, he said that his children had other plans, and he ended up listing four of the five lots for sale in 2017.
Jared Kushner and Ivanka Trump: The couple purchased a lot in Indian Creek in 2021. There were reports that they were rejected from joining Indian Creek Country Club due to objections from other members. However, they might not be unwelcome in the neighborhood — 42 of the 53 votes cast by residents of Indian Creek in the 2020 presidential election were for Ivanka’s father, Donald Trump.
Jaime Gilinski: The South American billionaire banker has reportedly purchased five neighboring properties on the island, from 18 to 22 Indian Creek Island Road.
David Guetta: The internationally acclaimed French DJ and music producer chose Indian Creek as his American home base, purchasing a luxurious property for $69 million in 2023.
Costs of Living in Indian Creek Village
The financial barrier to entry in Indian Creek Village is exceedingly high, making it accessible only to the wealthiest. Here’s a breakdown of the costs associated with living in this exclusive area.
Home Prices
Real estate prices in Indian Creek typically start at over $20 million — such as the $24 million home bought by Jared and Ivanka Trump, but some properties have sold for much more. David Guetta reportedly spent $69 million on his home, and Bezos recently bought his third house on the island for $90 million.
If you don’t have enough to buy in cash, you must factor interest payments into the equation. For a $30 million home, with a 30-year fixed-rate mortgage and an APR of 6.85%, you would end up paying over $32 million in interest over the length of the loan. This means that you’d have to pay over $60 million in total, and your monthly mortgage payment would be just over $157,000.
Annual Costs
Owning a home in Indian Creek comes with hefty ongoing expenses. Property taxes alone often run into hundreds of thousands of dollars annually, depending on the assessed value of the property. One of Bezos’ properties, 12 Indian Creek Island Road, had a property tax bill of $710,736.01 in 2023. Fees for security and community maintenance add to the cost.
The cost of maintaining a property like those in Indian Creek can also be substantial. This includes landscaping vast gardens, upkeep of private docks and pools and general costs of maintaining large homes.
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This article originally appeared on GOBankingRates.com: Want Bezos as Your Neighbor? Here’s the Cost To Live Alongside the Super Wealthy
