Real estate influencer and TikTok sensation, Tom Cruz, known for his success in Section 8 housing, has set a new record in Miami’s Belle Meade neighborhood by acquiring an opulent waterfront mansion for $17.8 million.
Los Angeles, CA, 3rd November 2023, ZEX PR WIRE, The lavish six-bedroom residence spans 8,200 square feet and is located at 1125 Belle Meade Island Drive. Previously listed at $18.9 million, Cruz secured the property at a 6 percent discount from its original asking price after it first hit the market in April of the preceding year for nearly $20 million.
The seller, Hugo Ledezma, completed a new home on the 0.3-acre property, which he acquired for $1.2 million in 2018. This four-story marvel boasts a 14-car garage, a state-of-the-art theater, a well-appointed wine cellar, an infinity pool, expansive outdoor entertainment areas, a private dock, and a rooftop terrace, as per the listing details.
Cruz, with a substantial social media following of 1.2 million on TikTok and over 100,000 on Instagram, is recognized for his educational webinars and enlightening content regarding the benefits of investing in Section 8 housing. Since 2015, he has been actively involved in the federal low-income housing program, amassing nearly 700 housing units across four states.
Having recently relocated to Miami from North Carolina in April, Cruz had been renting a condominium in Brickell with the intent of acquiring a permanent residence. The Belle Meade neighborhood, situated in Miami’s Upper East Side, has been gaining traction as a burgeoning real estate hotspot.
Minette Schwartz, Cruz’s representative from The Schwartz Team at Compass, highlighted their extensive search across various prime locations in Miami, ultimately leading them to Belle Meade due to its unique waterfront opportunities. Nancy Batchelor and Michelle Shurtleff of Compass acted as the agents for the seller.
Cruz expressed his enthusiasm for the property’s ample garage space, perfectly accommodating his collection of luxury cars including four Rolls Royces, a McLaren, and a Lamborghini. Additionally, the mansion offers a dedicated area for a yacht and is conveniently located near Brickell and Miami Beach.
This notable transaction eclipses Belle Meade’s previous record of $13.3 million set in late 2021 and further exemplifies the soaring property values observed across South Florida during the pandemic. The acquisition is poised to further solidify Tom Cruz’s standing as a prominent figure in the real estate investment arena.