Roustam Tariko, self-made billionaire and founder of
Russian Standard Bank and Russian Standard Vodka, the leading premium vodka in
Russia, completed the most expensive home purchase in Miami Beach
when he bought a $25.5 million estate on Star Island
in late Spring.
Tariko is now the neighbor of another wealthy Russian
with a taste for Florida luxury living
. Vladislav Doronin, also sometimes
dubbed as the "Donald Trump of Russia", who is the chairman of
Moscow-based real estate developer Capital Group. Tariko paid $16 million in
2009 for the Star Island home previously owned by Shaquille O’Neal, the
now-retired professional basketball player.
International investors are flocking to the United
States, buying some of the priciest homes in America. As the broader housing
market slumps, especially in economically depressed areas throughout the Midwest
and stagnant metropolitan areas, plus an ever weaker dollar makes U.S. property
more of a bargain and a safe haven for foreign investment capital. Sales of
residences above $20 million are rising in New York, California and Florida,
which are popular business and vacation destinations for cosmopolitan
entrepreneurs and celebrities.