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Are Ivanka Trump and Jared Kushner trading the political life in Washington, DC, for some fun in the sun? According to the New York Post, the young couple have bought a nearly 2-acre lot of land in Florida for the tidy sum of $31.8 million.
“Javanka” allegedly purchased Lot 4 on Indian Creek Island, an ultraexclusive area near Miami. Also known as “Billionaires Bunker,” Indian Creek Island is widely regarded in elite circles as one of the most picturesque locations in the U.S., says Dolly Lenz, a real estate agent at the eponymous firm in New York City.
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Jennifer Lenz, a real estate agent at Dolly’s firm, knows this property well, as she and her team toured it recently for a client.
“It’s the perfect location since it’s close to everything great in Miami, and the spot is super secure. The police-to-resident ratio is the highest that we’re aware of anywhere in the nation,” Jennifer says.
The community reportedly boasts a 13-member police force for 29 residences, as well as an armed boat patrol.
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Proximity to a well-established religious community was also likely top of mind, Jennifer adds, as this lot is right next to Surfside, Miami’s largest Jewish neighborhood.
“There are great schools and hospitals nearby, and it’s the most peaceful, unassuming area while also being adjacent to business and entertainment hubs,” Jennifer says.
Are all the Trumps moving to Florida?
Aside from top-notch security and beautiful beaches, Kushner and Trump will also have some relatives in the area. Kushner’s brother, Joshua, and his wife, model Karlie Kloss, just bought a multimillion-dollar home in Miami.
They might also see a lot of President Donald Trump. After all, his private club Mar-a-Lago in Palm Beach is just a stone’s throw away, and let’s not forget that in September, he officially switched his private residence from Manhattan to Palm Beach.
Is this property truly worth over $30M?
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At more than $30 million just for 1.8 acres, you have to wonder if Ivanka and Jared overpaid. But from what the experts are saying, this hefty price tag is appropriate.
“It’s a seller’s market in Florida right now, so therefore this is a completely fair price,” says Dolly.
“There’s currently a 3.67-acre lot for sale for $70 million, so this asking price is right within range for this extremely prestigious enclave,” says Cara Ameer, a real estate agent with Coldwell Banker in Los Angeles.
But the next step will only add to the bottom line: building a house. The cost to construct an estate at a quality commensurate with this pricey location will be upward of $1,000 per square foot, Dolly adds.
The ultraluxury market is appreciating quickly, so a newly built house in this area will likely cost in the $50 million range. And don’t forget, like so many other wealthy New Yorkers, the couple are fleeing a high income–tax state for the income tax–free waters of Florida.
Yet not everything goes swimmingly when you try to live and build near the water. In fact, a few have already noticed that this property is at high risk for flooding.
“Miami’s proximity to hurricanes and tropical storms means whatever the couple builds has to be bunkered against the wind and water,” says Ameer.
As such, Jared and Ivanka will need costly hurricane proofing, including the kinds of windows and roofing that can withstand intense rain and pressure and electronically controlled shutters and other protections.
Indian Creek Island’s other famous residents
Jared and Ivanka’s alleged plot was once owned by the Spanish singer Julio Iglesias.
And if football is on tap at the Kushner-Trump household, this locale sports past and present stars of the gridiron, including the Philadelphia Eagles‘ former owner and Miami Dolphins‘ old coach, Don Shula.
“The couple should fit right in with the movers and shakers on the island and will engage in lots of power networking,” says Ameer.
What other properties do Ivanka and Jared own?
This rumored home-to-be in South Florida for Jared and Ivanka is yet another fabulous address to add to their real estate portfolio.
For the past four years they’ve been ensconced in a six-bedroom, five-bath rental mansion in the tony section of Kalorama in Washington, DC. And they also still own an apartment on Park Avenue in New York City as well as a home in Bedminster, NJ, on the property of the Trump National Golf Club.
The post Will Ivanka and Jared Live Here? Inside ‘Billionaires Bunker’ and Its One Huge Risk appeared first on Real Estate News & Insights | realtor.com®.
source https://www.realtor.com/news/celebrity-real-estate/ivanka-and-jared-buy-property-billionaires-bunker/
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