Real estate influencer and investor Tom Cruz has made headlines with his latest acquisition, a stunning waterfront mansion in Miami’s Belle Meade neighborhood. The impressive six-bedroom, 8,200-square-foot residence at 1125 Belle Meade Island Drive, which was listed for $18.9 million, was secured by Cruz for $17.8 million, representing a 6 percent discount from its initial asking price. This property initially hit the market in April the previous year with an ambitious price tag of nearly $20 million.
The seller, Hugo Ledezma, acquired the property in 2018 for $1.2 million and recently completed the construction of this new four-story abode. The mansion boasts lavish features including a 14-car garage, a theater, wine cellar, infinity pool, outdoor entertainment spaces, a dock, and a rooftop terrace, as stated in the listing.
Cruz, renowned for his presence on social media platforms like TikTok and Instagram with over 1.2 million and 100,000 followers respectively, has built his wealth through investments in Section 8 housing. He’s been actively involved in this federal low-income housing program since 2015, now overseeing nearly 700 housing units across four states.
Expressing his enthusiasm for the new property, Cruz highlighted its potential to accommodate his extensive car collection, which includes four Rolls Royces, a McLaren, and a Lamborghini, with plans to add more. The mansion also offers space for a yacht and is conveniently located near Brickell and Miami Beach.
Cruz recently relocated from North Carolina to Miami in pursuit of finding his dream home. Initially renting a condo in Brickell, he ultimately achieved his goal of owning a prestigious residence.
Representing the seller were Compass agents Nancy Batchelor and Michelle Shurtleff, while Cruz was represented by Minette and Ida Schwartz of The Schwartz Team, also affiliated with Compass. Minette Schwartz shared that she and her client explored various properties across Miami and Miami Beach, ultimately gravitating towards Belle Meade due to its ample waterfront opportunities.
The Belle Meade Island community has witnessed significant price appreciation during the pandemic. Cruz’s acquisition surpasses the previous neighborhood record set at $13.3 million in late 2021 for the residence at 1133 Belle Meade Island Drive. Before that, the waterfront spec home at 7311 Belle Meade Island Drive achieved a notable sale of $7 million in 2020, holding the record at the time.
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