Iconic ’90s supermodel Cindy Crawford and her husband, businessman Rande Gerber, are set to be the newest uber-famous residents of Miami’s celebrity-packed North Bay Road. Property records show that the couple closed on their new five-bedroom, 3,800-square-foot house for a final price of $9,625,000 on December 30th, 2020.

The luxury residence sits on a 0.39-acre lot with more than 100 feet of frontage on scenic Biscayne Bay. Built in 1955, the home hasn’t been renovated since 1960, and it’s still packed full of historic charm without looking like a dated time capsule. Although the listing on Realtor.com states that the home is a whopping 526.63 percent more expensive than nearby properties, South Florida realtor Vickie Arcuri (who wasn’t involved in the sale) describes it as a “teardown” based on the photos.

True midcentury modern gem located on the most sought after location of prestigious North Bay Rd,” reads the listing. “Enter into this unique architecturally designed home surrounded by lush landscaping through wooden gates and an open foyer entry where you will find high ceilings and great walls for art throughout. The functional indoor/outdoor living makes it the perfect home for entertaining. Enjoy the bay breeze and breathtaking sunset views from the outdoor oasis that offers over 100+ ft of water frontage and unobstructed bay views.”

Whether they really do demolish the existing house to rebuild or just give it an extensive makeover, the process will be par for the course as far as Crawford and Gerber are concerned. A source told Page Six that the couple “really enjoy building and renovating houses,” having already done so with two previous homes in Malibu and Beverly Hills.

It’s hard to imagine paying over nine million dollars just for a lot in an area with a FEMA Flood Zone rating of 10/10, but that’s how exclusive this little stretch of Miami Beach is. Crawford and Gerber will now be neighbors with the likes of Karlie Kloss and Josh Kushner, who just bought a $23.5 million eight-bedroom estate down the street, and a host of other big names in fashion and business, like Tory Burch fo-founder Chris Burch, former J Crew CEO Mickey Drexler, and billionaire Barry Sternlicht.

Other celebrities who call North Bay Road home include Phil Collins, Dwayne Wade, and Gabrielle Union. Nearby Indian Creek Island, also known as “Billionaire’s Bunker,” has recently been in the news as the future home of Ivanka Trump and Jared Kushner. Tom Brady and his supermodel wife Gisele Bundchen also bought property there in December, with plans to tear down the current home and build their “environmentally friendly” dream mansion.

Wealthy people continue to flock to the Miami Beach area despite dire predictions about the city’s future as climate change advances. It’s considered the “most vulnerable” coastal city in the United States, with an additional six inches of sea level rise expected by the year 2030. About 10 percent of South Florida’s coastal areas will be underwater with a sea level rise of two feet, and a catastrophic five to six feet of sea level rise is likely by 2100.